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Despite selloff, Butler tells King World News he's bullish, blasts LBMA

Section: Daily Dispatches

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, 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.


Private Placement Offering for Silver Phoenix Resources Inc.

Silver Phoenix Resources Inc. [CNSX: SP] has announced a non-brokered private placement offering to raise up to $2 million by issuance of up to 4 million flow-through units at a price of $0.50 per unit. Non-flow-through common shares are being offered on the same terms to interested subscribers.

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.

The proceeds raised from the offering will be used for general exploration and to drill the 100-percent-owned River Jordan Property. This historic property hosts the King Fissure [aka River Jordan] lead, zinc, and silver deposit.

Following a comprehensive field program in 1991, a structural re-interpretation of the complex folds hosting the King fissure deposit resulted in a major increase in potential mineralization to 20 million tonnes of 7.5 percent lead, 7.5 percent zinc, and 100 g/t silver [Laird and Clark, 1991]. The estimated tonnage of the light rare earth and niobium-bearing extrusive carbonatite unit is on the order of 33,750,000 tonnes, with no ore grade currently established.

Interested parties can contact:

William J. Murray, President and CEO
Silver Phoenix Resources Inc.
Box 134 / 4631 75th Ave. NE
Canoe, British Columbia, V0E 1K0 Canada

For more information about the River Jordan Property, please visit:

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Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon:

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Free Booklet from Centennial Precious Metals on Pre-1933 Gold Coins

Centennial Precious Metals' new booklet, "Pre-1933 Gold Coins: Security, Privacy, and Opportunity in a Time of Economic Uncertainty" by Michael J. Kosares, is available to the firm's current and prospective clientele. Kosares is also the author of the widely read introduction to gold ownership, "The ABCs of Gold Investing -- How to Protect and Build Your Wealth with Gold" (1996, 2004).

You can register for your free hard copy here:

A printer-friendly version is available here:

Or you can order by telephone by calling Marie Ballard at Centennial Precious Metals at 1-800-869-5115x106.