Comment Text:
RE: Position Limits by Investment Banks in Silver
17 March 2011
To the CFTC:
It is urgent that you take action immediately after your prolonged investigation of this matter, to initiate a 1500 contract position limit in Silver for ALL INVESTORS THEREIN, with NO EXCEPTIONS, AND NO GRANDFATHERING OF PRIOR illegal positions that violate the new limits.
The financial markets are more frequently seen by small private investors as rigged in the favor of huge investment banks, and your contiinued grandfathering of large position limits would further undermine already very shaky confidence in our U.S. markets, and the moral integrity of our once great institutions, both private and public.
As a Federal Retiree I am more secure financially than many average, everyday Americans who have lost their jobs in this economic fiasco brought about largely by the abusive financial practices of overly large, and under-regulated American financial institutions. But even with a Federal pension, some Social Security from previous work, and my savings, I am still struggling to protect my wealth from the misguided policies of the Congress and Federal Reserve of the United States.
As a small investor in precious metals as a way of protecting my financial future, I am outraged at the ongoing, blatant manipulation of the price of silver by the bullion banking cartel, which only serves to disillusion those of us whom you are charged with protecting.
As a citizen and an investor, I urge you again: DO YOUR JOB REGULATING THESE GIANTS -- initiate and enforce, these position limits
Respectfully submitted,
Bill Carroll, Ph.D.
Clinical Psychologist (retired from Department of Defense)
