By Charles Mackay
The Wall Street Examiner
Wednesday, January 24, 2006
http://wallstreetexaminer.com/?itemid=2078 [1]
It's coming. Despite roadblocks put up by the Silver Users
Association, the Securities and Exchange Commission (SEC), in
conjunction with the American Stock Exchange, has proposed new rules
that will guide the trading of the upcoming silver exchange-traded
fund (ETF).
Let's be clear -- the proposed rule from the SEC governing trading
of the silver ETF --
http://www.sec.gov/rules/sro/amex/34-53130.pdf [2]
-- should not be confused with the pending registration of iShares
Silver Trust (SLV) shares with the SEC. These are separate matters.
However, the SEC action indicates the very clear intention of the
SEC and AMEX to prepare for the eventual trading of the silver ETF.
The proposed rule will take at least until February 7, 2006, to be
approved, and possibly it could be subject to further delays and/or
changes.
The Silver Users Association (SUA) fears that the iShares Silver
Trust will cause investors to buy silver -- and that this will
result in a shortage of silver for users. But the SEC sees no
present shortage of silver available for trading. The SEC says in
the rule proposal that "there are published sources that do suggest
the significant size of the overall market."
There may be a shortage of silver in the future, but the SUA's
arguments shouldn't prevent the registration of the silver ETF's
shares. The SEC has no authority to act on forecasts concerning the
price and availability of silver. After all, isn't the purpose of
the market place to allow willing buyers and sellers to set the
price of commodity or stock -- and allow it to fluctuate over time?
And since the silver ETF, by its own definition, requires the
physical possession of the commodity -- silver -- there can be no
trading of the silver ETF shares unless it manages to acquire
silver.
The SEC previously approved the stock registration of a similar
trust for gold, set trading rules, and granted them special
exemptions. While there is no guarantee of approval, it looks
increasingly likely it will follow the same course for the silver
trust -- and approve the registration of SLV.
Be prepared for the spotlight to shine on silver.
----------------------------------------------------
To subscribe to GATA's dispatches, send an e-mail to:
gata-subscribe@yahoogroups.com [3]
To unsubscribe, send an e-mail to:
gata-unsubscribe@yahoogroups.com [4]
----------------------------------------------------
RECOMMENDED INTERNET SITES
FOR DAILY MONITORING OF GOLD
AND PRECIOUS METALS
NEWS AND ANALYSIS
Free sites:
http://www.cbs.marketwatch.com [6]
http://www.gold-eagle.com/ [8]
http://www.usagold.com/amk/usagoldmarketupdate.html [11]
http://www.GoldReview.com/ [13]
http://www.capitalupdates.com/ [14]
http://www.DailyReckoning.com [15]
http://www.goldenbar.com/ [16]
http://www.silver-investor.com [17]
http://www.thebulliondesk.com/ [18]
http://www.sharelynx.com/ [19]
http://www.mininglife.com/ [20]
http://www.financialsense.com [21]
http://www.goldensextant.com [22]
http://www.goldismoney.info/index.html [23]
http://www.howestreet.com [24]
http://www.depression2.tv [25]
http://www.moneyfiles.org/ [26]
http://www.howestreet.com [24]
http://www.minersmanual.com/minernews.html [27]
http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.html [28]
http://www.goldcolony.com [29]
http://www.miningstocks.com [30]
http://www.mineralstox.com [31]
http://www.freemarketnews.com [32]
http://www.SilverSeek.com [34]
http://www.investmentrarities.com [35]
http://www.kereport.com [36]
(Korelin Business Report -- audio)
http://www.plata.com.mx/plata/home.htm [37]
(In Spanish)
http://www.plata.com.mx/plata/plata/english.htm [38]
(In English)
http://www.resourceinvestor.com [39]
http://www.prudentbear.com [41]
http://www.dollarcollapse.com [42]
http://www.kitcocasey.com [43]
http://000999.forumactif.com/ [44]
http://www.golddrivers.com/ [45]
http://www.goldpennystocks.com/ [46]
http://www.oroyfinanzas.com/ [47]
Subscription sites:
http://www.lemetropolecafe.com/ [48]
http://www.goldinsider.com/ [49]
http://www.interventionalanalysis.com [51]
http://www.investmentindicators.com/ [52]
Eagle Ranch discussion site:
http://os2eagle.net/checksum.htm [53]
Ted Butler silver commentary archive:
http://www.investmentrarities.com/ [54]
----------------------------------------------------
COIN AND PRECIOUS METALS DEALERS
WHO HAVE SUPPORTED GATA
AND BEEN RECOMMENDED
BY OUR MEMBERS
Blanchard & Co. Inc.
909 Poydras St., Suite 1900
New Orleans, Louisiana 70112
888-413-4653
http://www.blanchardonline.com [55]
Centennial Precious Metals
Box 460009
Denver, Colorado 80246-0009
1-800-869-5115
http://www.USAGOLD.com [56]
Michael Kosares, Proprietor
cpm@usagold.com [57]
Colorado Gold
222 South 5th St.
Montrose, Colorado 81401
http://www.ColoradoGold.com [58]
Don Stott, Proprietor
1-888-786-8822
Gold@gwe.net [59]
El Dorado Discount Gold
Box 11296
Glendale, Arizona 85316
http://www.eldoradogold.net [60]
Harvey Gordin, President
Office: 623-434-3322
Mobile: 602-228-8203
harvey@eldoradogold.net [61]
Gold & Silver Investments Ltd.
Mespil House
37 Adelaide Rd
Dublin 2
Ireland
+353 1 2315260/6
Fax: +353 1 2315202
http://www.goldinvestments.org [62]
info@gold.ie [63]
Investment Rarities Inc.
7850 Metro Parkway
Minneapolis, Minnesota 55425
http://www.gloomdoom.com [64]
Greg Westgaard, Sales Manager
1-800-328-1860, Ext. 8889
gwestgaard@investmentrarities.com [65]
Kitco
178 West Service Road
Champlain, N.Y. 12919
Toll Free:1-877-775-4826
Fax: 518-298-3457
and
620 Cathcart, Suite 900
Montreal, Quebec H3B 1M1
Canada
Toll-free:1-800-363-7053
Fax: 514-875-6484
http://www.kitco.com [66]
Lee Certified Coins
P.O. Box 1045
454 Daniel Webster Highway
Merrimack, New Hampshire 03054
http://www.certifiedcoins.com [67]
Ed Lee, Proprietor
1-800-835-6000
leecoins@aol.com [68]
Lone Star Silver Exchange
1702 S. Highway 121
Suite 607-111
Lewisville, Texas 75067
214-632-8869
http://www.discountsilverclub.com [69]
Miles Franklin Ltd.
3015 Ottawa Ave. South
St. Louis Park, Minn. 55416
1-800-822-8080 / 952-929-1129
fax: 952-925-0143
http://www.milesfranklin.com [70]
Contacts: David Schectman,
Andy Schectman, and Bob Sichel
Missouri Coin Co.
11742 Manchester Road
St. Louis, MO 63131-4614
info@mocoin.com [71]
314-965-9797
1-800-280-9797
http://www.mocoin.com [72]
Resource Consultants Inc.
6139 South Rural Road
Suite 103
Tempe, Arizona 85283-2929
Pat Gorman, Proprietor
1-800-494-4149, 480-820-5877
Metalguys@aol.com [73]
http://www.buysilvernow.com [74]
Swiss America Trading Corp.
15018 North Tatum Blvd.
Phoenix, Arizona 85032
http://www.swissamerica.com [75]
Dr. Fred I. Goldstein, Senior Broker
1-800-BUY-COIN
FiGoldstein@swissamerica.com [76]
The Moneychanger
Box 178
Westpoint, Tennessee 38486
http://www.the-moneychanger.com [77]
Franklin Sanders
1-888-218-9226, 931-766-6066
----------------------------------------------------
HOW TO HELP GATA
If you benefit from GATA's dispatches, please
consider making a financial contribution to
GATA. We welcome contributions as follows.
By check:
Gold Anti-Trust Action Committee Inc.
c/o Chris Powell, Secretary/Treasurer
7 Villa Louisa Road
Manchester, CT 06043-7541
USA
By credit card (MasterCard, Visa, and
Discover) over the Internet:
http://www.gata.org/creditcard.html [78]
By GoldMoney:
http://www.GoldMoney.com [79]
Gold Anti-Trust Action Committee Inc.
Holding number 50-08-58-L
Donors of $1,000 or more will, upon request,
be sent a print of Alain Despert's colorful
painting symbolizing our cause, titled GATA.
Donors of $200 or more will receive copies
of "The ABCs of Gold Investing" by Michael
Kosares, proprietor of Centennial Precious
Metals in Denver, Colorado, and "The Coming
Collapse of the Dollar" by James Turk and
John Rubino.
GATA is a civil rights and educational
organization under the U.S. Internal Revenue
Code and contributions to it are tax-deductible
in the United States.