Comment Text:
Dear Sirs:
Like most Americans today, I have to watch my pennies. As a senior citizen, I am dismayed at the rising cost of necessities.
The article "Speculators Get a Break in New Rule" by Gretchen Morgenson published in the New York Times reveals that market prices
are frequently being driven by speculators.
According, to the Times article, "The C.F.T.C. has proposed a limit of 25 percent of the deliverable supply of the underlying commodity. Mr. Nelson last week proposed a bill that would put that position limit at 5 percent of the deliverable supply."
Americans, especially seniors, should be protected from price increases in necessities that are purely the result of speculation. I support Senator Bill Nelson's Anti-Excessive Speculation Act of 2011. I urge the C.F.T.C to reconsider you proposal and adopt Senator Nelson's more reasonable proposal.
Sincerely,
James M. Bentley
Nokomis, FL 34275
