Comment Text:
I strongly support position limits in the silver market, but at a much lower amount than your staff recommends.
Their recommendation is for a maximum of 5,000 contracts, which is equal to 25 million ounces of silver. As I am sure you are aware, there are only 3 silver miners who produce that much silver (in a year!). Giving a single trader that much power over the silver market constitutes bad management and is extremely ill-advised.
It is important to LOWER that 5,000 contract amount to something which is reasonable and which still allows liquidity of the silver market.
I believe that the correct limit is 1,500 contracts and ask most strongly that you set that as the limit. 1,500 contracts!
Sincerely,
