Tom Szabo: Silver ETF ironies

1:58a ET Sunday, March 5, 3006

Dear Friend of GATA and Gold:

Resource Investor has posted a long analysis of the
prospects for and likely impact of an exchange-traded
fund in silver, written by Tom Szabo of an Internet
site GATA has not yet followed, SilverAxis.com. It's
titled quot;Silver ETF Ironiesquot; and predicts that the U.S.
Securities and Exchange Commission will decide that
the silver market isn't liquid enough to support an
ETF and remain orderly.

Of course, people will have to decide whether an
quot;orderlyquot; market is not also a synonym for a rigged
market and whether quot;orderlyquot; is necessarily a higher
virtue than free. And as silver market analyst Ted
Butler has argued, if there is a government
proclamation that silver is too scarce to allow it
to be purchased more conveniently at retail, silver
is likely to become even scarcer as investors,
sophisticated and unsophisticated alike, take the
hint.

You can find Szabo's analysis here:

a href=http://www.resourceinvestor.com/pebble.asp?relid=17599http://www.resourc...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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