Comment Text:
Dear Chairman Gensler and fellow Commissioners:
!!! Please institute a 1500 contract (7.5 million ounce) position limit for silver !!!
A position limit of over 5,000 contracts for any single speculator (which does nothing to stop the massive manipulation that goes on in the market) is simply absurd -- helpful only to J.P. Morgan and other "too big to fail" banks. You are supposed to serve the citizens of the United States, right?
Please do not think for one second that just because you have connived at massive manipulation thus far, that it shall never come to light. I urge you to look into the exponentially growing popularity of websites such as tfmetalsreport.blogspot.com that prove how quickly the public is catching on to these shenanigans, and how indignation and mockery are being aimed at you, and building into a fierce storm minute by minute.
Here's another site, Jesse's Cafe Americain, where the eloquent proprietor explains how his "heart sickens" at the obvious manipulation that went on Feb 24, 2011 when the markets were raided during access hrs with very low volume.
"Regulators are in place to keep an eye on big players with deep pockets and a far reach. In a properly regulated market the CFTC would immediatly pull the trading records for today and track the big sellers, and inquire as to the reasons for their sudden selling in a quiet market."
In short, please prove to American citizens that the fox is not watching the henhouse. Please institute a 1500 contract (7.5 million ounce) position limit for silver.
Sincerely,
Blake S. Baldwin
