Comment Text:
OPEN LETTER TO THE CFTC
February 23, 2011
Commodities Futures Trading Commission
3 Lafayette Center
1155 21st St. NW Washington, DC 50581
Re: Final Position Limits Letter
Dear Commissioners:
I have corresponded, with you all, many times in the past. Among other things because of your policy of failure/refusal/neglect to stop but rather to accommodate Silver Manipulation, I lost a fortune.
Equitable and appropriate position limits in silver should be NO MORE than 1,500 contracts or 7.5M ounces. The current proposed limit of over 5,000 contracts WILL NOT SOLVE THE PROBLEM OF MANIPULATION IN SILVER! The 1,500 contract limit is the correct amount and is STILL greater than any other current concentration in physical commodities traded on the COMEX.
Please do the right thing NOW... and
FIX THE PROBLEM WITH NO MORE THAN 1,500 CONTRACTS IN SILVER!
