Ted Butler's address to last month's Phoenix conference

8:07p ET Thurday, March 24, 2011

Dear Friend of GATA and Gold (and Silver):

Silver market analyst Ted Butler, whose many years of tireless research and advocacy brought the silver price suppression scheme to light, doesn't make too many public appearances. So his address to Cambridge House's Phoenix Resource Investment Conference and Silver Summit last month may be of special interest. Butler describes his efforts to get the attention of the U.S. Commodity Futures Trading Commission and his initial hopes for the CFTC's new chairman, Gary Gensler. Butler concludes:

"I have been asked if I have finally given up on Gensler doing anything about the silver manipulation and the enactment of legitimate speculative position limits. In a word: No, I have not given up on him. The pace to legitimate position limits in silver has been agonizingly slow. But at least there is a pace, something that was lacking until he became chairman less than two years ago. Yes, there is an ongoing silver investigation by the Enforcement Division of the CFTC, now in its third calendar year, and that is shameful. But you have to put things in perspective. A manipulation that has persisted for decades must be given time to end. I sense Gensler is on the right path. Also, I must acknowledge the courageous role of Commissioner Bart Chilton over the recent past. There is no doubt in my mind that Gensler and Chilton are dedicated public servants whose primary interest is in making our markets more transparent and fair. But they won't succeed without our help."

Butler's address is headlined "Silver Review and Outlook" and you can find it at GoldSeek's companion site, SilverSeek, here:

http://news.silverseek.com/SilverSeek/1300983928.php

And at 24hGold here:

http://www.24hgold.com/english/news-gold-silver-silver-review-and-outloo...

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