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Ted Butler: All talk, no action at CFTC
9:41p ET Tuesday, March 30, 2009
Dear Friend of GATA and Gold (and Silver):
Silver market analyst Ted Butler tonight replied to U.S. Commodity Futures Trading Commission member Bart Chilton about whether CFTC reports can be relied upon to demonstrate market manipulation. Butler argues that Chilton simply defaults when he suggests that overwhelmingly concentrated short positions on the Comex may be hedged by long positions in private markets elsewhere. For it is the Comex that sets the price, Butler writes, excessive concentration there is just that, that's the only market the CFTC can regulate directly, and so it should do its duty.
Butler's commentary is headlined "All Talk, No Action," and you can find it at GoldSeek's companion site, SilverSeek, here:
http://news.silverseek.com/TedButler/1238529622.php
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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