Comment Text:
Dear Chairman Gensler and Commissioners:
I am a widow with nearly all the money from the sale of my farm in silver. I expected tne volatility--but not the incredible manipulation that has been allowed to flourish unchecked for so long.
I urge you to limit exemptions to bona fide hedgers. I would ask you also, however, to readjust position limits of over 5,000 contracts for any single speculator, on an all-months-combined basis. 5,000 contracts is incredibly high in light of the realities of the world silver production and usage.
A speculator holding an amount of silver derivatives greater than what 99% of the world’s silver producers and consumers make or use in a year would have criminally high pricing power. Position limits supposedly prevent such exploitation.
A 1500 contract position limit for silver is the reasonable response.
Sincerely yours,
Harariet Hodges
