Comment Text:
Dear Chairman Gensler and fellow Commissioners:
I am contacting you on my own behalf, as an individual investor, and urge you to approve the CFTC's staff proposal concerning position limits, including limiting exemptions to bona fide hedgers. I request that you reconsider the proposed formula for silver (Ag).
The current formula of 5,000 contracts is the equivalent of 25 million ounces of silver. This is too high of a threshold in light of the realities of the world silver market.
Please institute a 1,500 contract (7.5 million ounce) position limit for silver.
Respectfully submitted,
Bernard A. Torbik
