Comment Text:
Fair 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.
I am not a US citizen but the Comex situation with regard to the precious metals market, in particular Silver, affects the whole world and I am amazed that certain organizations (supposedly set up to monitor unfair market conditions and trading) knowlingly allow an obvious manipulative position (currently on the short side) to exist without any liability.
The greater problems exist in this world because markets are manipulated, a free open market encourages correct and proper trading. It is not the holy grail of reducing recessions but all ups and downs will find their own equilibrium, reducing the disproportionate size of swings that exist when markets are illegally manipulated.
