Comment Text:
As the end of the comment period for hard position limits on metals futures is upon us, I am once again writing to the CFTC in an effort to stop the egregious concentrated short position on silver by JP Morgan Chase, in particular. Free markets are the best way to keep America strong, not markets manipulated by Wall Street, governmental entities, or other entities with a vested interest in keeping metal prices lower than the free market would otherwise allow. Concentration is the key to manipulation and the CFTC's own data and other publically available information clearly identifies large scale position concentrations by a few entities in the silver market.
With this in mind, I respectfully request the CFTC implement a hard limit on individual entities (and their affiliates) of holding a maximum 1,500 silver futures contracts, and/or the equivalent derivatives, at any one time. This will greatly reduce the ability of any one player to control prices in any market where price discovery is the law of the land.
Sincerely,
Steven Fink
