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.
Today, I read the Reuters report that "BARCLAYS SAYS CFTC SHOULD DEFER DECISIONS ABOUT NATURE AND EXTENT OF POTENTIAL LIMITS UNTIL AFTER IT COLLECTS NEW DATA ABOUT OTC MARKETS"
From another source I read:
The U.S. futures regulator said on Monday it has canceled its latest rule-making meeting scheduled on March 30. The U.S. Commodity Futures Trading Commission did not give a reason for the cancellation.
If true then the public comments have not been fully taken into consideration, meaning a decision has been made using other considerations.
I hope the CFTC can act decisively, to right the obvious wrong on position limits, and clear the air of the stench of corruption.
