Comment Text:
As a long-time market participant, investor and active business entity (FundSoft.com) involved in the provision of data services, data systems and MetaStock trading software, I would strongly encourage the commission to impose position limits on silver in line with current existing policy as exists in the other markets. Having no position limits on silver leaves the market open to gross manipulation and abuse and undermines the purpose of the market which is to provide clear price signals between producers, consumers and investors. I believe that not having position limits on silver seriously impairs the market's ability and purpose of sending clear price signals to producers in order to ensure adequate supply matched to demand. Unfortunately this does not appear to be happening and instead of producers allocating the appropriate amount of capital to ensure having adequate supply of this strategic metal, we are now in a situation where gross under supply appears ready to significantly upset the market due to critical physical shortages that cannot be easily rectified simply by decree. I would strongly encourage the commission to give serious consideration to imposing position limits on silver in order to restore and ensure proper functioning of this market to free market price signals as failing to so has the potential to see even greater problems arising in the future.
