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Ted Butler expects silver explosion soon, but GATA has questions

Section: Daily Dispatches

1:14p ET Friday, May 12, 2017

Dear Friend of GATA and Gold:

Silver market rigging investigator Ted Butler explains today why he thinks price suppression in silver is likely to end soon in an explosion because of the extreme and concentrated short position in the monetary metal.

GATA can only hope that Butler's commentary will flow from his keyboard to the Great Market Manipulator's ear (and we don't mean Yellen). But we wouldn't bet too heavily on Butler's assertion that "all price manipulations come to an end," an assertion that may be of no more value than the Infinite Monkey Theorem, which holds that with an infinite number of monkeys and keyboards, in infinite time at least one of them will type out "King Lear" or even Shakespeare's complete works:

For of course the human lifespan is not infinite but tightly limited, time remains money, and justice delayed remains justice denied. The theoretical inevitability of justice is of little use or consolation to the dead.

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Besides, even if the explosion in silver were to happen tomorrow there would be no guarantee of profits to silver investors.

If silver goes to, say, $100 per ounce, what's to prevent a government from reclassifying it as a strategic national resource and confiscating it as gold was once confiscated in the United States?

Other than recognition of government's administrative incompetence, which is always on display at the U.S. Veterans Administration and at state motor vehicles departments, what's to prevent governments from nationalizing the mines?

What's to prevent governments from imposing windfall profits taxes?

What's to prevent governments from openly outlawing markets? Governments are already destroying them surreptitiously.

Governments have done all this stuff before.

This is not to disparage Butler's work; far from it. It is to argue that Butler's work -- the pursuit of truth, liberty, limited and accountable government, and free and transparent markets -- is, like GATA's work, never to be concluded. Someone will be needed to do it long after Butler and those gathered in and around GATA are gone. For power always corrupts and thereby creates the nature of government: to oppress as much as to assist, to conceal the nefarious as much as to be accountable for it.

In such circumstances there is no inevitability, only possibility, and the monetary metals are important less for their intrinsic worth than for being liberty's weapons, which is why governments will always fear and seek to suppress them.

Butler's commentary today is headlined "Expecting the Unexpected" and is posted at GoldSeek's companion site, SilverSeek, here:

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

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