Comment Text:
It is time for the CFTC to require reasonable position limits on precious metals contracts, particularly silver. A requirement for no more than 1500 contracts would be in line with those in other markets, and would not only be reasonable, but prevent the criminal manipulation of the markets that distinctly appears to have been carried out repeatedly for years by a very few large banking institutions.
The continuing chaos in the silver market is 100% due to the poor enforcement of commodity law by the CFTC.
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.
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.
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. Please give this your prompt attention.
