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Ted Butler: A new silver issue for the Justice Department

Section: Daily Dispatches

2:47p ET Saturday, February 16, 2019

Dear Friend of GATA and Gold:

The most recent futures trader positioning report from the U.S. Commodity Futures Trading Commission, silver market analyst Ted Butler writes, raises monopolization and restraint-of-trade issues that should be investigated by the Justice Department.

... Dispatch continues below ...


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Butler writes: "As of the close of business on Jan. 15, the eight largest traders on the short side of New York Commodity Exchange silver futures held a net (pure) short position of 95,577 contracts, the equivalent of nearly 478 million ounces of silver, or roughly 60 percent of annual total mine production. The four largest traders held a net short position of 70,627 contracts, the equivalent of more than 350 million ounces or roughly 40 percent of total annual world mine production.

"In terms of the average short holdings of each trader, the four largest traders average more than 87 million ounces per trader, while the eight largest traders hold short nearly 60 million ounces per trader.

"No silver mining company produces 60 million ounces per year."

Butler's analysis is headlined "A New Silver Issue for the Justice Department" and it's posted at GoldSeek's companion site, SilverSeek, here:

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

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