Comment Text:
It does not matter whether or not there are any position limits in the silver market.
Make it 1,500 contracts. Make it 5,000 contracts. Make it whatever you want, because no one at the CFTC enforces the current rules against the illegal manipulation of the silver market. Why pretend that the CFTC will do its job in the future when every week blatant manipulation occurs in the silver market and related mining stocks while you (CFTC Commissioners) do nothing about it.
Also, whatever happened to that ongoing investigation into the silver market manipulation? How many years has it been going on now? Bart made a public announcement that the silver market has been (is being) manipulated, yet there still is no enforcement action against anyone (JPM, HSBC, others).
Who exactly is it that you are working for? The honest people of the United States or the corrupt Federal Reserve and the Banking Cartel (including Jamie Dimon and Blythe Masters at JPM). Never mind - we already know the answer to that.
In conclusion, this whole exercise in setting position limits is just a farce. You have already broken the law by not implementing the rules on time and will continue to break the law by not enforcing a reasonable limit (1,500 silver contracts) on your bosses in the future.
That's why I have decided to sign up for Andrew Maguire's new trading service. He has alerted you to the silver market manipulation in the past and understands when and how it is perpetrated. I will no longer be disadvantaged by the CFTC's lax enforcement in the silver market. In the future, you present no other choice to me than to take economic advantage of the ongoing manipulation through Andrew's service.
Hopefully after the Comex silver default later this year we'll get new CFTC Commissioners who actually take their mission seriously.
"The CFTC's mission is to protect market users and the public from fraud, manipulation, and abusive practices related to the sale of commodity and financial futures and options, and to foster open, competitive, and financially sound futures and option markets."
