Alasdair Macleod: Refuting Ted Butler's criticism


By Alasdair Macleod
GoldMoney, Jersey, Channel Islands
Tuesday, July 16, 2019

Following last Thursday’s article on silver ("A Whale Is Accumulating Silver Futures"), Ted Butler, an analyst who specifically follows silver futures on Comex, responded in an article posted on Silverseek entitled "Wrong Whale."

I have decided I must refute his allegation that what I wrote is factually incorrect.

... Dispatch continues below ...


Glint Completes L5 Million Private Placement
and Welcomes Sprott as Strategic Investor

Company Announcement
Thursday, June 13, 2019

Glint Pay Inc. (, the first-mover company that enables physical gold to make instant payments using a debit Mastercard, today announced the completion of a private placement of L5 Million in London-based parent Glint Pay Ltd. The financing was led by Sprott, an alternative asset manager and a global leader in precious metal and real asset investments with approximately $8 billion in assets under management.

Founded in the United Kingdom in 2016, Glint established the first app-based account in February 2018 giving clients in Europe a low-cost way to buy, sell, and save physically allocated gold and for the first time instantly spend it via the Glint Mastercard anywhere Mastercard is accepted. Glint Pay then added multiple currency wallets, including U.S. dollars, British pounds, and euros in July 2018. The company is working on its launch into the United States. ...

... For the remainder of the announcement:

The problem right from the start is there are very few facts to go on, something I made clear in my article. In the absence of hard facts, it therefore amounts to one conspiracy theorist's view against another's. The difference is that in my article, for the avoidance of doubt, I clearly admitted this role for myself while Butler does not.

It is also important to understand that the real market for silver derivatives is in London forwards, which has only recently started to offer end-of-day clearing and vaulting figures. As I wrote in my article, looking at Comex is like observing the dog’s tail and not seeing the dog. ...

... For the remainder of the commentary:

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