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Despite selloff, Butler tells King World News he's bullish, blasts LBMA
11:11a ET Saturday, April 17, 2010
Dear Friend of GATA and Gold (and Silver):
Today silver market analyst Ted Butler gives what may be his best weekly interview yet to Eric King of King World News. Butler says:
-- Last week's precious metals selloff was another Comex manipulation that may not last much longer.
-- There has been a sharp decline in the metal claimed to back the silver exchange-traded fund SLV and this may signify that the metal is needed somewhere else by the price managers amid a worsening shortage of metal.
-- Market analyst Jim Rickards' interview last week with King World News (called to your attention by GATA on Wednesday, http://www.gata.org/node/8546) was important for citing the lack of transparency of the London Bullion Market Association. "You can't depend on anything the LBMA says," Butler complains, adding that the LBMA discloses "nothing verifiable" and "I wouldn't trust anything from the LBMA."
-- Having sued Goldman Sachs for fraud on Friday, the U.S. Securities and Exchange Commission may give courage to the U.S. Commodity Futures Trading Commission to act against Goldman and other investment banks in their manipulation of the commodities markets.
-- Silver is set up to take off imminently.
You can find Butler's interview with King World News here:
Or try this abbreviated link:
Let's hope that the Great Market Manipulator is listening -- and that's not Bernanke.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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Each flow-through unit consists of one common share in the capital of the corporation (a "flow-through share") and half of one non-flow-through common share purchase warrant (a "warrant"). Each whole warrant shall entitle the holder to acquire one non-flow-through common share in the capital of the corporation (a "warrant share") until 5 p.m. Vancouver time on the date 24 months following the closing date (as defined herein) at a price of $0.70.
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