Comment for Proposed Rule 76 FR 4752
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From:
Henry LeRoy Henderson
Organization(s):
National Society of Professional Engineers
NumbersUSA
National Right to Work Committee
Federation for American Immigration Reform
Republican National Committee
First United Methodist Church
American Contract Bridge League
Comment No:
34076
Date:
3/30/2011
Comment Text:
It is my understanding that large banking institutions have been using a commodity trading stradegy in silver futures for a number of years that, essentially, controls the spot price of silver. As a federal regulating commission, I applaude your consideration and recommendations to establis reasonable methods to preclude this manipulation of a free market.
Please consider lowering your recommended position limit to 1,500 contracts (7.5 million ounces) from your proposed 5,000 contract position limit (25 million ounces). It also seems prudent to preclude exemptions except for the few bona fide hedgers.
