Comment Text:
It is hard for me to believe that the CFTC would consider that 5,000 contracts is a justifiable solution to the current problem. My firm opinion is that a "fair and appropriate position limit 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 closer to the correct amount but is STILL greater than any other current concentration in physical commodities traded on the COMEX. It is my sincere hope that the CFTC will have the foresight and courage to implement this realistic limit for the sake of all the investors who have suffered for years at the hands of the unscrupulous manipulators. Perhaps we can return to a “real” market with “true” price discovery.
Regards,
Hugh Stanfield
