Ted Butler: Don't stop complaining about shorting of SLV
4:45p ET Monday, December 19, 2011
Dear Friend of GATA and Gold:
Silver market analyst Ted Butler, who was complaining about manipulation of the silver market before GATA was formed to complain about manipulation of the gold market, today provides an update about the short position in the major silver exchange-traded fund SLV, which creates a vast but imaginary supply of silver and thereby suppresses the price, a short position that shouldn't be allowed, a short position overwhelmingly concentrated in the hands of JPMorganChase.
Butler concludes: "Concentration on the Comex and the amount of short selling in SLV is stark, verifiable, and visible to all. Both will tell you all you need to know about the unusual behavior of the price of silver when analyzed with a common sense filter. But the greatest lesson of all is what all this short selling should tell you about the future behavior of silver prices.
"More than anything else, this need by a few commercial crooks to resort to excessive and manipulative short selling should tell you about the real condition of the physical silver market. It is because the silver market is so tight and that large quantities of real silver are unavailable that the commercial crooks have to sell short so blatantly. If you can't sell the real thing, you sell the next best substitute. Without the Comex and SLV short selling, the price of silver would be dramatically higher. Since there has never been a legitimate explanation for the concentration on the Comex or the excessive short selling in SLV, I am convinced both forms of manipulation and fraud are coming to an end, as the scrutiny increases. You should not let up in complaining about these crooked shorting mechanisms or in acquiring the cheap silver they have created."
Butler's commentary is headlined "SLV Short Position Update" and it's posted at GoldSeek's companion site, SilverSeek, here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Be Part of a Chance to Discover
Multi-Million-Ounce Gold and Silver Deposits in Canada
Northaven Resources Corp. (TSX-V:NTV) is advancing five gold and silver projects in highly prospective and politically stable British Columbia, Canada.
Check out the exploration program on our Allco gold/silver project :
-- A large (13,000 hectare) property, covering more than 15 square kilometers of a regional mineralized trend just 3km from a recently announced 1.2-million-ounce gold and 15-million-ounce silver deposit.
-- The property hosts historic high-grade silver workings and many mineral showings as well as former mines at the property's northern and southern boundaries.
-- A deep-penetrating airborne geophysics survey has just been completed on the entire property and neighboring deposits and its results are eagerly awaited.
To learn more about the Allco property or Northaven's other gold and silver projects, please visit:
Or call Northaven CEO Allen Leschert at 604-696-3600.
Join GATA here:
Vancouver Resource Investment Conference
Sunday-Monday, January 22-23, 2012
Vancouver Convention Centre West
Vancouver, British Columbia, Canada
California Investment Conference
Saturday-Sunday, February 11-12, 2012
Hyatt Grand Champions Resort
Indian Wells, California, USA
Support GATA by purchasing a silver commemorative coin:
Or by purchasing a colorful GATA T-shirt:
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon:
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
The United States Once Again Can Establish
a Stable Dollar Worth Its Weight in Gold
Lewis E. Lehrman, chairman of the Lehrman Institute, sponsor of The Gold Standard Now project, has released a plan to restore economic growth through a stable dollar.
The plan, titled "The True Gold Standard: A Monetary Reform Plan Without Official Reserve Currencies," responds to the recurrent economic crises of the last century and outlines a detailed proposal for America's leadership on "how we get from here to there." That is, how we get from the present unstable paper dollar to a stable dollar as good as gold.
James Grant, author and editor of Grant's Interest Rate Observer, says of the Lehrman plan: "If you have ever wondered how the world can get from here to there -- from the chaos of depreciating paper to a convertible currency worthy of our children and our grandchildren -- wonder no more. The answer, brilliantly expounded, is between these covers. America has long needed a modern Alexander Hamilton. In Lewis E. Lehrman the country has finally found him."
To learn more and to sign up for The Gold Standard Now's free, noncommercial, weekly report, "Prosperity through Gold," please visit: