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Ted Butler: The real lesson of the London Metals Exchange's default in nickel
9p ET Monday, April 11, 2022
Dear Friend of GATA and Gold:
Silver market analyst Ted Butler notes tonight that the concentrated short position in silver futures and derivatives in the United States is many, many times larger than the short position in nickel that blew up and prompted default of the London Metals Exchange's nickel contract.
Butler writes that U.S. market regulators should be investigating the grotesque short position in silver.
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That there seems to be no regulatory interest in the silver short position suggests that the short position is actually a U.S. government position for which investment banks provide camouflage as brokers.
Such camouflaged intervention is fully authorized by the Gold Reserve Act of 1934, as amended, and presumably is why the U.S. Commodity Futures Trading Commission refuses to answer whether it has jurisdiction over manipulative trading undertaken by or for the government.
Butler's analysis is headlined "The Real Lesson of LME Nickel" and it's posted at GoldSeek here:
https://goldseek.com/article/real-lesson-lme-nickel
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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