Comment Text:
Dear Chairman Gensler and fellow Commissioners:
I am writing to urge you to implement & enforce the position limits in the precious metals markets as mandated by the Dodd-Frank Statute. It is my opinion that the amount of contracts held by any actor in the markets should be limited to 1,500 contracts or less. There should be strict enforcement by the CFTC of these limits once implemented.
The Dodd-Frank Statute is the Law of the Land; it is your duty to uphold the Laws of the United States. Past failures in dealing with the current situation of manipulation & fraudulent practices by the largest actors in these markets is destroying the markets credibility, price discovery, and is allowing the fraudulent practice of offering premiums in cash against silver delivery on contracts that are standing for delivery.
Turning a blind eye to these practices is enabling them to continue; it will eventually lead to the destruction of the U.S. futures markets as the investing community will be driven off-shore to find a free and fair marketplace. Now is the time to address these issues once and for all. If you cannot in good conscience implement the Statute, you should resign your positions immediately.
Respectfully,
Timothy S. Stewart
