Comment Text:
Dear CFTC:
I think your all idiots, once again I wish to reiterate, that I would rather buy vegetables, than waste tax money funding the CFTC. You clowns haven't done anything with your worthless jobs, for the last 8 years. People have known that there was a concentrated short position for the past 8-10 years, and you yes men sycophants have done nothing. Even when I was a high school student, I knew there was a concentrated short position. WHAT HAVE YOU MORONS BEEN DOING FOR THE PAST 8 YEARS? Oh waiitttt.......
LOOKING AT PORN WITH YOUR PALS AT SEC?
http://abcnews.go.com/GMA/sec-pornography-employees-spent-hours-surfing-porn-sites/story?id=10452544
YES TO VEGETABLES
NO TO CFTC
LOLZ
I urge you to approve the staff’s proposal on position limits, including limiting exemptions to bona fide hedgers. I would ask you, however, to readjust the proposed formula in silver. The current formula would result in a position limit of over 5,000 contracts for any single speculator, on an all-months-combined basis. 5,000 contracts is the equivalent of 25 million ounces of silver. This is too high of a threshold in light of the realities of the world silver market.
There are only three mining companies in the world who produce more than 25 million ounces of silver per year and only a similar number of industrial consumers using more than that amount. Any speculator holding an amount of silver derivatives greater than what 99% of the world’s silver producers and consumers make or use in a year would have inordinate pricing power. The purpose of speculative position limits is to prevent such a circumstance.
Please institute a 1500 contract (7.5 million ounce) position limit for silver.
Sincerely,
Jim Nguyen
