Comment Text:
Dear Chairman Gensler and fellow Commissioners:
I am a citizen who has come to understand that levels of corruption have been integrated throughout our social, financial and political system. I fear that our county's ideals that include fairness and integrity are rapidly diminishing and alienating the common man.
I urge you to approve the staff’s proposal on position limits, including limiting exemptions to bona fide hedgers. I would ask you, however, to readjust the proposed formula in silver. The current formula would result in a position limit of over 5,000 contracts for any single speculator, on an all-months-combined basis. 5,000 contracts is the equivalent of 25 million ounces of silver. This is too high of a threshold in light of the realities of the world silver market.
Please institute a 1500 contract (7.5 million ounce) position limit for silver and bring some balance into this market place.
Respectfully,
Don Celestino
