Comment Text:
Dear Commissioners:
It seems obvious that one or two huge banks manipulate the price of silver and that you should impose position limits to protect the public, small investors and industrial users. The proposed 5,000 contract position limit for silver, 25 million ounces, still gives those banks too much dominance over real world producers and consumers. A more appropriate limit would be about 7.5 million ounces which is larger than what the majority of the world’s silver producers and consumers make or use in a year.
Please institute a 1500 contract (7.5 million ounce) position limit for silver.
Respectfully submitted,
Les Chambers
