Comment Text:
Dear Chairman Gensler and fellow Commissioiners:
I urge you to approve your staff's proposal on position limits, including limiting exemptions on legitimate hedgers. I would ask you, however, to readjust the proposed formula in silver. The current formula would result in a position limit of over 5,000. contracts for any single speculator, on an all-months-combined basis. 5,000. contracts is the equivalent of 25 MILLION ounces of silver. This clearly is too high of a threshold in light of the realities of the world silver market.
Please institute a 1,500. contract (7.5 million ounces) position limit for silver.
Sincerely,
Ron Jamieson, II
