Ted Butler hails new CFTC chairman's support for limiting derivatives positions

Section:

6:50p ET Thursday, August 1, 2019

Dear Friend of GATA and Gold:

Silver market analyst Ted Butler today welcomes a statement by the new chairman of the U.S. Commodity Futures Trading Commission, Heath Tarbert, that the commission "must issue long-awaited rules to limit derivatives positions that help unscrupulous traders corner commodity markets."

Butler writes: "The one thing the new chairman should recognize is that the big commercial shorts in Comex silver futures have never collectively bought back shorts to the upside and at a loss. Never is a very long time, but commitment-of-traders data confirms this clearly. The big shorts have never taken a loss on their short position. I would submit that such a trading record would be possible only in a rigged market. This one glaring fact, by itself, explains why there has been a decades-long silver price manipulation. The only question is whether the Comex commercial crooks will rig yet another selloff, enabling them to keep their perfect trading record intact."

Butler's commentary is headlined "Position Limits" and it's posted at GoldSeek's companion site, SilverSeek, here:

http://silverseek.com/commentary/position-limits-17711

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org


ADVERTISEMENT

Buy metals at GoldMoney and enjoy international storage

GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:

http://www.goldmoney.com/?gmrefcode=gata



Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Friday-Monday, November 1-4, 2019

https://neworleansconference.com/noic-promo/powellgata/

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16