Comment Text:
Dear Sirs
The CFTC needs to put in the limits of 1,500 contracts on the short side and end the manipulations of the silver market. The time is fast approaching that low silver prices will end with an explosive termination upwards. Silvers low price in the face Major decline in supplies, and the naked short positions that are becoming impossible to cover. The Comex warehouses do not contain the needed silver to meet the open interest of silver for March 2011 delivery.
The CFTC needs to tell the Comex officials that they have to halt the alleged speculation in the silver market and stop to denying that a physical shortage has finally caused the price to move. The rules need to be changed now to avoid real shortages for those who need silver to operate their business. Holders of short positions know cannot conjure real silver out of thin air!
Investors holding physical silver now smell blood in the water and are refusing to sell unless the price climbs much higher. Please consider this move before the board members are summoned to testify at Congressional hearings concerning the suddenly recognized silver shortages, and how years of naked short selling have deepened the crisis by choking off production.
Don Anderson
Marietta, GA
