Comment Text:
Concerning position limits of comodities,
1. All parties must play by the same rules. It is fundamentally a part of the free market economy.
2. The purpose of the comodites and futures markets are to support manufacturing and alow for a stable pricing of a given comodity from the point that the resource is listed untill the contract is delivered. To that end leveraged speculation is counter productive. The simplest solution would probably to require physical delivery on a comodity.
This would have the effect of forcing a reality check in the speculation. If I want to speculate on a given comodity then I simply need to come up with the cash to buy or the comodity to deliver. After the delivery If I want to trade, exchange or return the asset to the market for future speculation that is my business...
These two ideas would allow the market to be open, supplying the price stability the exchange was created for and alow speculation without dammage to the stability of nations.
Eric Marvin
