Comment Text:
From: Warren Sanders
I strongly support the “Proposed Rule 76 FR 4752 // 17 CFR Parts 1, 150 and 151 Position Limits for Derivatives” .
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.
Just as many countries are in the midst of full out civil revolt against government cronyism to big business, it is important that American Government stand up for our citizens,especially right now, with so many families struggling, and unemployment lingering, we cannot allow corporate speculators to unduly affect our food and gas supplies and prices.
A. 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.
B. 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.
Best regards
Warren W. Sanders
