Comment Text:
Dear Sirs,
For what it's worth, I will comment on the silver limits.
I have watched the machinations of the various markets including silver for a number of years and am deeply disturbed by the lack of fairness and common sense used in the price discovery processes. It is very disheartening when the processes are skewed so control and manipulation are the end objective for whatever reasons beyond their true purpose of price discovery.
I believe that size limits is a perfect example of the above. Obscenely large limits begs cornering the market. Hedging for producers is healthy. Creating a casino for investment houses does nothing but distort the true market and distorted allocation of resources, as if we haven't seen enough of that.
Large limits sets the stage for the idiotic thinking that one can trade away a problem which I believe bankers and regulators have colluded in doing. Nothing more than kicks a dangerous can down the road for which we as a people will pay later.
So I implore you to do the just thing in this regard and look beyond temporary, short-sighted problems and follow the principles embodied in this once great country.
Vaughn F McCain
