Comment Text:
Dear Chairman Gensler and fellow Commissioners!
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 position limit for silver.
Rectify this situation immediately - the eyes of the world are upon you, and they do not like what they see.
Respectfully submitted
Jürgen Reich
From Germany
