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Ted Butler: The real lesson of Societe Generale

Section: Daily Dispatches

3p ET Tuesday, February 5, 2008

Dear Friend of GATA and Gold:

Silver market analyst Ted Butler argues that the real problem behind the recent catastrophic trading losses at Societe Generale was the same one behind the catastrophic losses at the Amaranth Advisors hedge fund and Barings Bank and the same one behind the potential catastrophe of the silver market: the failure to require adequate margin in support of enormously concentrated positions. Butler's new commentary is headlined "The Real Lesson of SocGen" and you can find it at GoldSeek's companion site, Silver Seek, here:

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

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