Comment Text:
February 24, 2011
Commodities Futures Trading Commission
3 Lafayette Center
1155 21st St. NW Washington, DC 50581
Re: Final Position Limits Letter
Dear Commissioners:
Our relationship goes back many years as I have continually voiced my displeasure about the continued fraud and manipulation taking place on the COMEX in gold and especially in SILVER. Here are links to some of my more recent letters I've written you:
CFTC Delays 60-Day Notification To Assist Manipulators
http://www.roadtoroota.com/public/504.cfm
Flawed Silver Investigations and Breaking The Law
http://www.roadtoroota.com/public/484.cfm
New CFTC Gold/Silver Regulatory Framework
http://www.roadtoroota.com/public/207.cfm
BLATANT MARKET MANIPULATION IS EMBARRASSING THE "NEW" CFTC
http://www.roadtoroota.com/public/443.cfm
CFTC: Where Is The Justice?
http://www.roadtoroota.com/public/400.cfm
CFTC Hearing and the Wall of Silence
http://www.roadtoroota.com/public/315.cfm
I'm going to make this comment VERY short and to the point unlike my tirades thrown in your direction in the past....
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.
Do the right thing...
FIX THE PROBLEM WITH NO MORE THAN 1,500 CONTRACTS IN SILVER!
What are the members of the CFTC going to do for employment, when the US dollar either collapse or defaults?? And at the rate things are going what's your gut say to the time frame?? SOON! Do you all want a legacy of corruption to follow you ALL into the history books. What about the shame you ALL will bring to your families. DO THE RIGHT THING!! "We the People" are not going away or roll over and play dead! You think it's bad at the Wisconsin Capital, wait till "WE THE PEOPLE" start marching in front of your office!
Respectfully submitted
Jerry M Fares
