Comment Text:
Every week when I go to the grocery store and find prices have risen another 10-12% is evidence enough that there is far too much dependence on gambling in commodities markets such as food and oil. Living on a very small disability income, I assure you that this hurts more than just the pocketbook, not only of myself, but every other disabled or low income American.
I urge you to curb excessive gambling in commodities markets like food and oil.
While many factors contribute to today’s highly volatile commodity prices, it is clear that excessive speculation is partially responsible, as shown in dozens of studies by respected institutions such as Princeton, MIT, Petersen Institute, University of London, Yale, the United Nations and the U.S. Senate.
Speculation thus imposes financial hardships on families around the country. Sudden rises in gas and food prices force us to make difficult decisions and sacrifices. Especially right now, with so many families struggling, and unemployment barely beginning to decrease, we cannot allow speculators to unduly affect our food and gas prices.
Please put in place effective position limits rules, and do not allow them to be undermined by exemptions or exceptions, or allow Wall Street gamblers to escape them.
Thank you for your consideration.
