Comment Text:
Thank you for this opportunity. My name is Cris Skinner. My family and I are moderate consumers of fuel, food and other commodities, but we still feel the pinch at the grocery store and at the pump. My mother and many of her siblings are on fixed incomes and my sister as a teacher, all of us hurt, sometimes dearly, when these prices go up. Moreover, in a global economy futures trading in commodity derivatives is linked both to malnutrition and civil unrest throughout the world.
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.
We cannot afford a repeat of the 2008 food and gas price bubbles, so the CFTC should put in place strong position limits to control excessive gambling.
The CFTC should not allow exemptions or exceptions that undermine the rule, and should not give any exemptions to banks, hedge funds or other financial players.
Thank you for your interest in public comment, and I hope that strong, meaningful rules will be set to prevent misuse, "gambling," with such vital resources.
