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Ted Butler: What matters most in gold and silver

Section: Daily Dispatches

... Updating the link below ...

11a ET Monday, May 18, 2020

Dear Friend of GATA and Gold (and Silver):

Silver market analyst Ted Butler writes today that the eight major shorts in silver are bearing unprecedented losses lately with little likelihood that others will take the short positions off their hands. The concentration of this short position, Butler writes, is why silver is so cheap relative to gold.

Butler concludes: "But as the big shorts wait for a miracle, the open losses continue to grow and all the visible signs indicate no new big shorts are about to come in and take their place. Scotiabank seems to want out in the worst way and HSBC reportedly just lost $200 million in a single day.

... Dispatch continues below ...


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"Maybe JPMorgan can stem the tide for a while by continuing to sacrifice more accumulated metal and adding to shorts on higher prices, but that will only increase the focus on how corrupt the most crooked bank of all time really is.

"The CFTC knows for sure the real story, as does the Justice Department, as well as the super-crooks at the CME Group, as it would be impossible for any of them to be that clueless. But aside from encouraging and facilitating short-term selloffs, time may have finally run out for the big shorts. Particularly in a macroeconomic environment that would appear to foster continued and increasing gold and silver buying, the eight big shorts would seem to be in a bad position. And even if they do succeed in smashing prices temporarily, there is no guarantee or even likelihood of generating the massive speculative selling they need to get off the hook.

"The silver story was always about the concentrated short position and when the final chapter is written that will become obvious."

Butler's analysis is headlined "What Matters Most in Gold and Silver" and it's posted at GoldSeek:

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

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