Comment Text:
Dear Chairman Gensler and fellow Commissioners:
I am sixty years old and have lost faith in our markets. Watching the CFTC stall and refuse to take action as markets are clearly manipulated is no longer acceptable. Now is the time to restore our faith in the CFTC.
The proposed position limit for silver is way too high at over 5,000 contracts. This proposal would allow a speculator to hold an amount of silver derivatives greater than what 99% of the world's silver producers or consumers make or use in a year. This allows the above speculator too much pricing power.
Please institute a 1500 contract (7.5 million ounce) MAXIMUM position limit for silver.
Respectfully submitted,
Lou Frazer
