Comment Text:
I urge you to curb excessive gambling in commodities markets like food and oil. Gambling by way of financial speculation on precious commodities at this time of world shortages is criminal activity that ought to be treated as such.
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 world. 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. The American people are hurting, we are outraged at the fleecing of our country by banksters and criminal financial gambits, and we are watching closely.
Thank you for your consideration.
