Comment Text:
10-005
COMMENT
CL-01555
From:
Sent:
To:
Subject:
Jeff
Friday, April 9, 2010 12:59 PM
Metals Hearing
RE: position limits for precious metals
Ladies and Gentlemen:
PUBLIC COMMENT:
Thank for the opportunity to comment on the issue of position limits for precious metals. Please
establish a speculative position limit in COMEX silver of no more than 1500 contracts. Please
restrict any hedging exemptions from those limits to legitimate hedgers. Please stop the levels of
concentration in COMEX silver futures that have been experienced over the past few years on the
short side of the market.
THERE should be no reason for any non producer or consumer group to be hedging
more than 150,000 onz of gold that is almost $ ,2bil
Same thing for 135,000.000 oz of silver
This is not supporting or adding liquity to a market This is Price suppression
The risk here is a short squeeze which might Hurt Major Bullion Banks which I would
have to bail out
Sincerely,
J. Shannon
Nevada
