Ted Butler: One lie after another about silver shorts

Section:

5p ET Monday, December 21, 2009

Dear Friend of GATA and Gold (and Silver):

Silver market analyst Ted Butler asserts today that the May 2008 report issued by the U.S. Commodity Futures Commission's Division of Market Oversight, denying manipulation of the silver market resulting from concentration of short positions, was either a lie or an incompetent oversight. Subsequent CFTC reports, Butler says, show that the collapse of the Bear Stearns investment house in March 2008 and absorption of the firm by JPMorgan Chase & Co. led to the assumption by Morgan Chase of massive silver and gold short positions from Bear Stearns. Butler's commentary is headlined "One Lie After Another" and you can find it at GoldSeek's companion site, SilverSeek, here:

http://news.silverseek.com/SilverSeek/1261415180.php

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

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