Comment Text:
Please implement effective position limits to help stop the ongoing COMEX market manipulation by the large banks that have recklessly destroyed our free market system. Silver has the largest short concentration of all the commodities and position limits in silver should be implemented immediately. A reasonable limit is no more than 1,500 contracts or 7.5M ounces.
It is incredible that your investigation of 2 years has not led you to this step long ago, as anyone with a high school (or maybe grade school) education, can look at the patterns of trading between the Asian markets, London Market, NY Comex, and the Electroni Access Market, and see that almost daily attacks on the silver price by the paper shorts occur, usually starting in London, or failing that, in NY, and if the market actually trades up for the day, huge selling occurs often, which would not be the pattern of a profit motivated hedger seeking to maximize price, in the thinly traded Access market. No other market in history has had similar trading patterns.
Please do not ignore these signals any longer, and carry out the task that is your mandate!
Colin Walker
