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View Full Version : Interview With Theodore Butler posted 11/24



Greenbear
26th November 2010, 01:09 PM
Ted Butler discusses lawsuits filed against JP Morgan & HSBC, CRIMEX, silver short-squeeze, timing of increased margin requirements for silver, etc.

http://news.silverseek.com/SilverSeek/1290625106.php

JohnQPublic
28th November 2010, 07:15 PM
Interesting tidbit:

"...
Cook: OK, but how much silver do you think was purchased on balance and must be delivered to the SLV?
Butler: I had been guessing close to 20 million ounces, but much to BlackRock’s credit (they’re the new sponsor), the silver is being brought in much more quickly than when Barclays was the sponsor.
Cook: Where is the silver coming from?
Butler: No one knows for sure, but the hallmarks on many of the new bars being deposited were from Russia and China. I think that’s good, because as those two countries wake up to the silver manipulation, they should be unlikely to continue supplying material at artificially depressed prices.
Cook: I heard a big delivery came in to the SLV last week. True?
Butler: Yes, there was an extraordinary deposit of 11.3 million ounces into the SLV on Wednesday, November 10, the largest one day deposit in the ETF since 2006. This brings the deposits into the Trust to over 18 million ounces in little more than a week and a half, to a new record of over 344 million ounces."

JohnQPublic
28th November 2010, 07:19 PM
another:

"Butler: ... The reason the CME is so opposed to position limits is because of silver, not any other commodity. Don’t be fooled into thinking this isn’t a silver-specific issue.
Cook: Why only silver?
Butler: This is an important point. There is no position limit problem in any other commodity apart from silver. Not in oil, or grains or gold. Just silver. It’s the dirty secret that’s about to be revealed."

JohnQPublic
28th November 2010, 07:23 PM
Goes without saying:

"Cook: Let’s change directions. What about COMEX silver inventories? What’s going on with them?
Butler: Recently, COMEX warehouse inventories dropped to near four year lows, at just under 108 million ounces. This drop, importantly, was accompanied with great turnover (in and out movements); highly suggestive of tightness and that the inventory is held in strong hands.
Cook: What’s the historical perspective on this?
Butler: COMEX silver inventories are down 60% from the 280 million ounce peak in the mid-1990’s. In contrast, COMEX gold inventories are at a record high of over 11.3 million ounces, the highest in the 45 year history of the COMEX. This is an apples to apples comparison, as the COMEX is the dominant market for both gold and silver trading.
Cook: Are we in a shortage?
Butler: I think we are in the early stages of a silver shortage that is bound to grow more severe.
Cook: Won’t this cause a surge in mining production?
Butler: Sure, eventually. But any mining increase in response to higher silver prices will take many years to hit the market. It’s not like flipping a light switch.
Cook: You’ve mentioned three things that will drive up the price of silver. It looks like one of them, investment demand, is kicking in. Will it get bigger than this?
Butler: I think that’s a certainty, as more people are waking up to the silver story.
Cook: Your second bullish factor is industrial demand. Do you still expect industrial users to panic because of a shortage?
Butler: Ever see what’s left in a supermarket after a hurricane warning?
Cook: Where does the price of silver burn itself out if a buying panic occurs?
Butler: Use your imagination. Then double it.
Cook: Your final and biggest bullish factor is the end of the concentrated short position. What will this do?
Butler: Terminating the concentrated short position will end the decades-old manipulation itself. That will bring about an honest and free market.
Cook: How will they cover the short position?
Butler: By buying back the position, delivering against it or by defaulting on it.
Cook: What about going forward? What will no big short sellers mean for the future?
Butler: It will be a different world price-wise."

JohnQPublic
28th November 2010, 08:22 PM
Butler: Use your imagination. Then double it.


Wow! $246 / ozt :)

http://www.youtube.com/watch?v=ZOXG8wtxx_w

Easy as 123

Plastic
28th November 2010, 08:28 PM
Scary, I imagine 1Ag = 1Au.

SilverMagnet
29th November 2010, 03:17 PM
Total World Population = 6.8 Billion
Total US Population = 310 Million
Total above ground Silver = 1 Billion Ounces (or less)

Even if every American were to hold just 3 ounces, and this doesn't include all the other Silver holders across the globe, all above ground inventory would be claimed and out of circulation for industrial use. The global population has increased while the silver supply has decreased. All the while, the price is being artificially suppressed, the global fiat currency is on the verge of meltdown and industrial use is in greater demand than ever.

Never before has there been a greater opportunity to invest in the world's most useful metal. When the price explodes, there will be many who will wish that the manipulation had continued just a little longer in order to get their hands on more.

JohnQPublic
29th November 2010, 06:17 PM
Total World Population = 6.8 Billion
Total US Population = 310 Million
Total above ground Silver = 1 Billion Ounces (or less)

Even if every American were to hold just 3 ounces, and this doesn't include all the other Silver holders across the globe, all above ground inventory would be claimed and out of circulation for industrial use. The global population has increased while the silver supply has decreased. All the while, the price is being artificially suppressed, the global fiat currency is on the verge of meltdown and industrial use is in greater demand than ever.

Never before has there been a greater opportunity to invest in the world's most useful metal. When the price explodes, there will be many who will wish that the manipulation had continued just a little longer in order to get their hands on more.


And let's asume Ted Butler erred to the low side by a factor of two. BIG DEAL! Even a factor of 6.8. SO WHAT! Everyone in the world gets one ozt.

osoab
29th November 2010, 07:07 PM
This part made me scratch my head.


Butler: I’ll let the market tell us, but much higher than we’ve been in silver.
Cook: Do you think it will overshoot?
Butler: I think it’s impossible for it not to overshoot.
Cook: You think that Chairman Gensler at the CFTC is a straight shooter, right?
Butler: I think he walks on water. I may be dead wrong, but I’m a pretty good judge of human character.
Cook: Will he cure the silver mess?
Butler: If he follows the law and what he knows to be right.
Cook: Is he more competent than prior chiefs?
Butler: Gensler is the smartest guy in any room. It would be an insult to compare him to any former chairman or chairwoman.

Gensler is a former Goldman Sachs guy. Why would Butler put any faith in this dude?

Serpo
29th November 2010, 10:16 PM
Total World Population = 6.8 Billion
Total US Population = 310 Million
Total above ground Silver = 1 Billion Ounces (or less)

Even if every American were to hold just 3 ounces, and this doesn't include all the other Silver holders across the globe, all above ground inventory would be claimed and out of circulation for industrial use. The global population has increased while the silver supply has decreased. All the while, the price is being artificially suppressed, the global fiat currency is on the verge of meltdown and industrial use is in greater demand than ever.

Never before has there been a greater opportunity to invest in the world's most useful metal. When the price explodes, there will be many who will wish that the manipulation had continued just a little longer in order to get their hands on more.


And why shouldnt it be worth as much as gold some day, or is silver just going to be gobbled up and there is none left.It has to go up in price so its not wasted as much for a start.More people will use something with silver being a part of it, it has to go up in price and quickly in fact.

If it dosnt everyone knows, so everyone will feast on cheap silver.....cant lose,up or down.

Serpo
29th November 2010, 10:22 PM
This part made me scratch my head.


Butler: I’ll let the market tell us, but much higher than we’ve been in silver.
Cook: Do you think it will overshoot?
Butler: I think it’s impossible for it not to overshoot.
Cook: You think that Chairman Gensler at the CFTC is a straight shooter, right?
Butler: I think he walks on water. I may be dead wrong, but I’m a pretty good judge of human character.
Cook: Will he cure the silver mess?
Butler: If he follows the law and what he knows to be right.
Cook: Is he more competent than prior chiefs?
Butler: Gensler is the smartest guy in any room. It would be an insult to compare him to any former chairman or chairwoman.

Gensler is a former Goldman Sachs guy. Why would Butler put any faith in this dude?


Obviously Butler likes the guy and Butler would have plenty of experience with this type.
Take it as a positive because until Butlers hunch is proved wrong then things are looking good,at the same time heaps of court cases are coming about silver manipulation.The writing maybe on the wall for the silver manipulators......esp after the kaiser report(just kidding)

SilverMagnet
30th November 2010, 02:10 AM
And why shouldnt it be worth as much as gold some day, or is silver just going to be gobbled up and there is none left.It has to go up in price so its not wasted as much for a start.More people will use something with silver being a part of it, it has to go up in price and quickly in fact.

If it dosnt everyone knows, so everyone will feast on cheap silver.....cant lose,up or down.


It is a win win situation for those of us who are stacking while the price is low. Mainstream press is starting to pick up on it though and I don't suspect we have much more time before it takes off to an Intergalactic level.

Plastic
30th November 2010, 08:49 AM
Look at silver climb! :o

osoab
30th November 2010, 07:34 PM
This part made me scratch my head.


Butler: I’ll let the market tell us, but much higher than we’ve been in silver.
Cook: Do you think it will overshoot?
Butler: I think it’s impossible for it not to overshoot.
Cook: You think that Chairman Gensler at the CFTC is a straight shooter, right?
Butler: I think he walks on water. I may be dead wrong, but I’m a pretty good judge of human character.
Cook: Will he cure the silver mess?
Butler: If he follows the law and what he knows to be right.
Cook: Is he more competent than prior chiefs?
Butler: Gensler is the smartest guy in any room. It would be an insult to compare him to any former chairman or chairwoman.

Gensler is a former Goldman Sachs guy. Why would Butler put any faith in this dude?


Obviously Butler likes the guy and Butler would have plenty of experience with this type.
Take it as a positive because until Butlers hunch is proved wrong then things are looking good,at the same time heaps of court cases are coming about silver manipulation.The writing maybe on the wall for the silver manipulators......esp after the kaiser report(just kidding)


I really can't put any faith in a former Goldman guy that is in an appointed .gov position. See Hank Paulson.

The fact that Butler has faith in the CFTC to do anything seems extremely hopeful imho. If .gov has previously turned a blind eye/corroborated in the scam, putting faith in them now seems like a dead end.

Greenbear
30th November 2010, 08:06 PM
Butler: Ever see what’s left in a supermarket after a hurricane warning?
Cook: Where does the price of silver burn itself out if a buying panic occurs?
Butler: Use your imagination. Then double it.
Cook: Your final and biggest bullish factor is the end of the concentrated short position. What will this do?
Butler: Terminating the concentrated short position will end the decades-old manipulation itself. That will bring about an honest and free market.
Cook: How will they cover the short position?
Butler: By buying back the position, delivering against it or by defaulting on it.
Cook: What about going forward? What will no big short sellers mean for the future?
Butler: It will be a different world price-wise."

Ignoring other phenomenal fundamentals for a moment, what happens when silver reaches $200... $300 and above? At that point it is no longer too small a fish to fry for the big investors who can finally hop on board... then the price skyrockets from there! One of the factors keeping the silver price down is that big investors like hedge funds, and billionaires cannot invest in it, they are locked out because the price is too low and they are not allowed to corner the market evidenced by the Hunt brothers, and Buffet (who was rebuffed). How many times in history has the price of a commodity been so artificially suppressed that it has become rare, so that even the big boys in the know cannot jump on board?