Comment Text:
Dear Chairman Gensler,
History talks of enough incidences where the authorities failed to do their work and
prevent the misdeeds flourishing within their jurisdiction. By not forcing the rule of law,
something for which they were appointed and paid, they thus became the instruments
of crime and destruction. Today you and your staff at CFTC stand at one such
crossroad: either you enforce the honest position limits in commodities like silver or
simply stand by and let the rot develop in your domain.
History also gives enough proofs that misdeeds never last forever, and when they do
unwind, they do so with vehement pressure, disrupting entire ecosystem for a while.
The same fate awaits silver market. If you fail to check the powerful shorts - and those
who are helping them to stay short - you are simply failing to do your job. This may not
harm you immediately, but in the long run you will remember very well that you did not
do the job you were paid for.
Please institute a 1500 contract (7.5 million ounce) position limit for silver (which is a logical limit) and save the silver market from explosive situations. It is possible that most people would not even come to know that you did your job well and saved the silver market from a major disruption, it is possible that nobody would thank you for that, but it is sure that your chest would stay puffed with the feeling that comes from doing your job right.
Sincerely,
Shailendra Kumar,
Panchgani, India.
