Comment Text:
Please institute a speculative position limit at 1500 contract (7.5 million ounce) for the Silver commodity.
I am proposing this limit because I think that a larger limit will continue a likely distortion away from a free silver market 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.
