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Antal Fekete: Putting loincloth on the naked bogeyman

Section: Daily Dispatches

12:01a ET Thursday, June 12, 2008

Dear Friend of GATA and Gold:

Economist and monetary historian Antal E. Fekete contends that there is not a big concentrated naked short position in silver, as silver market analyst Ted Butler long has concluded from commodities exchange data. No, Fekete believes that the silver behind the enormous short positions is out there, somewhere, just not in commodities exchange warehouses, and that the major listed short sellers are actually agents of all sorts of silver holders who are profitably putting their metal to work in the trading pits.

At least Fekete seems to agree with Butler that the silver market might benefit from greater transparency, since, apparently, Fekete's innocent scenario and Butler's sinister one would look the same on the books of the exchanges.

Fekete's new essay is headlined "Putting Loincloth on the Naked Bogeyman" and you can find it at GoldSeek's companion site, SilverSeek, here:

And at 24hGold here:

Or at this abbreviated link for 24hGold:

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

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