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Comment for Proposed Rule 76 FR 4752

  • From: Josh Kauffeld
    Organization(s):
    None

    Comment No: 29594
    Date: 2/25/2011

    Comment Text:

    There are only three mining companies in the world who produce more than 25 million ounces of silver per year and only a similar number of industrial consumers using more than that amount. Any speculator holding an amount of silver derivatives greater than what 99% of the world’s silver producers and consumers make or use in a year would have inordinate pricing power. The purpose of speculative position limits is to prevent such a circumstance.

    Please institute a 1500 contract (7.5 million ounce) position limit for silver.

    Respectfully submitted,

    Josh Kauffeld

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