Ted Butler - silver's guru has challenged the CFTC to update their regulations and is requesting support of those that agree.

http://www.investmentrarities.com/ted_butler_comentary09-14-10.shtml

Here is the letter I sent to the CFTC should anyone wish to use it.

I have been following the recent concerns regarding potential manipulation with respect to futures trading for some time. I have read many articles and letters written by Ted Butler, and in numerous investment journals I see that he is considered the foremost expert with respect to silver markets.
As a result of my own thorough analysis of his writings and the opinions of many whom I respect, I am officially requesting the CFTC to introduce regulations regarding position limits for all commodities and more specifically for silver as suggested by Mr. Butler in his letter sent to you dated September 13, 2010(see attached).

I believe this matter to be of the uptmost importance in ensuring market forces are able to function and that excessive speculation and the potential for manipulation in such markets is minimized. Since I believe failure to enact such regulations are both detrimental to market forces and will result in greater suspicion that markets can and in some cases are rigged I would certainly appreciate being advised by the commission of the reasoning for not adopting his 1% solution or something more stringent.

Best regards,

orgy