Comment Text:
The C.F.T.C. has proposed a limit of 25 percent of the deliverable supply of the underlying commodity. Senator Bill Nelson of Florida has proposed a bill that would put that position limit at 5 percent of the deliverable supply. He says the C.F.T.C.’s limit is so high that it would encourage speculation and make markets more volatile.
I am an extremely aware and concerned citizen and businessman, knows about how the speculation works in the marketplace and have my MBA in Finance. This is what caused the “Oil Bubble” in 2008 (as well as many other commodities such as steel), and THIS NEEDS TO BE OUTLAWED IN THE FUTURE. The Dodd-Frank bill is supposed to accomplish this, and your agency is supposed to write the rules as to how to accomplish this goal. We need to limit the trading position at 5 % of supply, not 25%. Otherwise, Wall Street and the speculators win again and the ordinary citizen and business is left in the dust paying the profits to the wealthy once again.
Please use common sense and do not submit to the pressures of Wall Street and the money wealth grabbers who make their millions off the backs of the ordinary citizen and businessman because the government allows it. The Bush era “ANYTHING GOES” days are thankfully long gone. Thank you and DO THE RIGHT THING as Frank-Dodd is intended!!!!
Ken Alpert
