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Comment for Proposed Rule 75 FR 80174

  • From: Larry Smith
    Organization(s):
    Individual

    Comment No: 50616
    Date: 6/29/2011

    Comment Text:

    What defines "excess speculation"? To me the users/suppliers reflect true supply/demand. So for sure its "excess" when speculators outnumber users/suppliers, as is the current case I believe. However, I'm led to believe that "some" speculation helps with liquidity.My "vote" is for the CFTC to obey the spirit and intent of the Dodd-Frank Law and set rules on "position limits" to curb excess speculation... especially in oil...where for my taste users/suppliers would outnumber speculators by at least 2:1.

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