Comment Text:
The position limit in silver should br no more than 1500 contracts to be in line with all other commodities, there is no reason as to why it should be any different.
The current proposal falls short of stopping manipulation due to concentration, you may as well just give the manipulators a license to carry on and let them keep doing what they have been doing for years.
The continuing chaos in the silver market is 100% due to the poor enforcement of The delay in the investigation in illegal trading in gold and silver and enforcement of commodity law has made investors lose all faith in the CFTC. The CFTC should have cracked down on this abuse a long long time ago.
No special higher limits to contracts held should be given to banking or any financial institutions for hedging as they are not legitimate users or suppliers of the commodity of silver. They deal in paper contracts, no real silver is ever delivered or received.
Anything other than strict enforcement of position limits will be nothing more than a capitulation by the CFTC to the manipulators of silver therefore will be deemed by the public as the CFTC being as criminal as the manipulators themselves, and legal action should be taken against all parties involved.
Unless the CFTC are in the pockets of the "manipulators", there is absolutely no reason for anything other than a maximum 1500 contract limit. I urge you to do the right thing and prove you are up to the job you have been given, stand up to these crooks and put them in their place once and far all, for the sake of the country and the financial system.
