Comment Text:
As an individual investor, I believe that no institution, commercial interest, or producer should be able to control over 1% of the yearly production of global SILVER OR ANY METAL. I review the COT report (Commitment of Traders) every week, and am appalled at the huge number of short contracts in the hands of so few financial institutions.
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.
Regards,
Jayme McAllister
