Comment Text:
It is time to stop manipulation of the precious metals markets. To do this naked short selling must be eliminated.
Right now the volume of silver sold short vastly exceeds that available for sale on the COMEX. Imposing limits on the number of contracts is a small step in the right direction, but this does not nearly go far enough.
It is not good enough to state that the contracts can be rolled over or settled in cash - this is manipulation and fraud designed to force prices down The same is true of equities that are sold short without availability of sufficient shares to cover. This should be illegal and the perpetrators should be prosecuted.
