Ted Butler: President Johnson pledged to rig silver market

Section:

11:14p ET Monday, May 11, 2009

Dear Friend of GATA and Gold (and Silver):

In commentary posted today at GoldSeek's companion site, SilverSeek, silver market analyst Ted Butler discovers something remarkable after digging out President Lyndon B. Johnson's announcement in 1965 that silver would no longer be a component of United States coinage. That is, the president proclaimed that the U.S. government would, if necessary, rig the silver market to prevent hoarding of silver coins.

Further, Butler reports, the amount of silver in the world per-capita has diminished by 95 percent over the last half century while the amount of gold per-capita has remained fairly constant. That, Butler argues, puts silver's price potential far ahead of gold's.

Butler's commentary is headlined "A Presidential Bombshell" and you can find it at SilverSeek here:

http://news.silverseek.com/TedButler/1242061902.php

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

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