Ted Butler: The real speculators


5p ET Tuesday, June 10, 2008

Dear Friend of GATA and Gold:

Studying commodities exchange data, silver market analyst Ted Butler reports that the price of oil has been driven up not by the current scapegoats, index funds holding for the long term, but by panicked short speculators covering their positions. Butler argues that the explosion in oil prices is what will be coming in silver, for the same reason, only more so, because the short position is in even fewer hands than the short position in oil. Butler's new commentary is headlined "The Real Speculators" and you can find it at GoldSeek's companion site, SilverSeek, here:


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

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