Comment Text:
Position limits in silver trading are set too high. JPMorgan's 25,000 contracts to the short side is very manipulative indeed. I can remember when the Hunt brothers were forced to sell their long position in the silver market because of market manipulation. What is the difference? I also remember in 1989 the Chicago Board of Trade forced an Italian named Farruzi to sell his position in the soybean market, because he was considered to be cornering the market. I know because my crop lost half of it's value that year. Soybeans are a renewable resource silver is not. I am in agreement with Theodore Butler on position limits set at 1500 contracts net short position. What good would a speed limit of 50 MPH do in a school zone. Limits are set for the good of all involved. JPMorgan stands to lose big time if silver goes up substantially. Who bails them out ? Not my dime. Yours? Any way isn't it a crime to manipulate the market?
