Alasdair Macleod: Refuting Ted Butler's criticism

Section:

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 ...



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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:

https://www.goldmoney.com/research/goldmoney-insights/refuting-ted-butle...

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