Comment Text:
Dear Chairman Gensler:
The position limits currently defined for precious metals, particularly silver, are not reasonable. No speculator should be able to control 5000 contracts, equal to 25 million ounces of silver. This level is not compatible with the realities inherent in the silver market. That large of position allows blatant manipulation of the market.
Please institute a silver position limit within reasonable limits, such as 1500 contracts (7.5 million ounce). As it stands today, the CFTC in my mind is an egregious partner in today's world of market manipulation, and failing to perform its stated function. Establishment of appropriate position limts would reverse that perception.
Respectfully submitted,
Chris McCammon
