Ted Butler: A simple and constructive solution


8p ET Tuesday, October 30, 2007

Dear Friend of GATA and Gold:

In his latest commentary, silver market analyst Ted Butler says it would be easy for Barclays to remove all doubt over whether real silver is backing its silver exchange-traded fund -- just publish the serial numbers of the bars held by the fund, as State Street Bank does for the gold held by its gold ETF.

Publishing bar numbers indeed is a start, but it still is no guarantee that someone else does not also have a claim to the same bars -- that, say, some of the bars are not just leased from a central bank.

It is, as Butler says, a matter of trust. And if you're trusting anyone connected with Wall Street to do right by you and your metal, good luck to you. As the saying goes, you trust your mother but you cut the cards.

You can find Butler's new commentary, "A Simple and Constructive Solution," at GoldSeek's companion site, SilverSeek, here:


CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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