Comment Text:
Dear CFTC Chairman Gensler and fellow Commissioners:
RE: Silver Contract Limits
The silver market is running pell-mell into a supply shortage. Said shortage is the direct result of government sanctioned, illegal manipulation and it's resulting depression of the silver market and industry. Such manipulation was made possible because of concentrated contract positions permitted via excessive contract limits and special interest induced exemptions. The position limit of 5000 contracts along with near meaningless exemptions has been very profitable for the manipulators and the exchanges, but disastrous for traders and the industry.
To avert further damage to the silver industry, a position limit of 1500 contracts with meaningful limited exemptions is urgently needed.
Michael O'Connor
Please institute a 1500 contract (7.5 million ounce) position limit for silver.
Respectfully submitted,
Ted Butler
