"Exemptions should be granted only to bona fide hedgers."

This is a symptom of the bought off by banks syndrome. There should be NO EXCEPTIONS. Hedge funds are just another opportunity for the JP Morons of the world to just open up a shell company, fund it, and limit its business to being a hedge fund.

The only exemption should be to holders or producers who place silver in a margin account. Then we could get these "commodities" out from under the paper weights.

Why would ANY sane person believe that the gambling casino should set the price of a commodity?