Comment for Proposed Rule 76 FR 4752

Comment Text:

I am a US citizen and PhD student in economics currently studying abroad, and I have travelled extensively in developing countries. I was shocked at the devastation that higher food and oil prices caused for hundreds of millions of people around the world in the poorest countries in 2008. Today prices are rising for people everywhere again, including struggling families at home in the US. Because the price increases are so high above the underlying long-term fundamentals without any clear increases in demand, it is obvious that among other issues, something fishy is going on with speculators on futures markets. While many aspects of Dodd-Frank are being watered down, this establishment of strong position limits on food and fuel commodity traders is one big chance for the CFTC to show some real leadership and secure greater financial stability for people everywhere.

I am writing to urge you to do the right thing and take concrete steps to curb excessive gambling in commodities markets like food and oil.

Please put in place effective position limits rules, and do not allow these to be undermined by loose exemptions or exceptions, or allow institutional investors to escape them.

Thank you for your consideration.