Comment Text:
The Cftc has failed to fulfill its basic mission of preventing manipulation of commodity markets as far as silver is concerned. You have allowed one or two large entities to manipulate silver prices by maintaining a huge outsized short position and look the other way when it is massively increased to the detriment of fair markets. That manipulation has now gotten so far out of hand that it has drastically increased silver demand because of those low prices and the stage has been set for those big shorts to go bankrupt, default, or cause a massive price spike in silver. This is the very definition of market manipulation-using large positions to cause price movements to the detriment of everyone else. You are allowing the same situation as occurred when the Hunt Brothers had outsized long positions many yrs ago-look where they ended up.
A fair position limit should be around 1500 contracts to prevent this type of manipulation and insure the market is fair to ALL participants-not providing a method for stealing from small investors by large commercials/banks.
