Comment Text:
To Whom It May Concern --
As a small business owner struggling to move forward in a difficult economic environment, I find it disheartening that a select, small group of individuals has the ability to manipulate commodity futures to their advantage while the rest of us suffer the consequnces of their actions. When 50% of futures trading is conducted by speculators who have no interest in ever holding or utilizing the underlying commodities, the benefit of induced volatility flows to a few while the cost flows to the rest of us. In this arrangement, there is no discernable benefit to the larger economy. In fact, manipulation within the silver market by traders (speculators) like JP Morgan Chase or within the oil market by Goldman Sachs makes it look like the foxes are in charge of the hen house.
I urge you to take appropriate and immediate actions in order to curb the impact of speculator dominance and market manipulation in futures trading.
Thank you,
James Wood
