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viernes, 30 de julio de 2010

FOOD CRISIS 2010

FOOD CRISIS 2010 THREAD


http://www.godlikeproductions.com/forum1/message1148074/pg1

domingo, 25 de julio de 2010

Ted Butler Interview transcript

1) Mr. Butler, We thank you for this opportunity . First I would like to ask you about your background . It would be interesting to understand how you entered the gold and silver markets, and how you slowly became a global authority in these matters.

I started as a commodity broker at Merrill Lynch in 1972 and have been an independent analyst for the past 20 years or so.

2) How did you discover the gold and silver manipulation in the markets.

The silver manipulation dawned on me in 1985, when I discovered the obscenely large short position in COMEX silver which was out of line with every other commodity. Later I discovered how gold and silver leasing and forward selling were also manipulating the price of each.

3) Some of the most frequent questions on the web is : if the gold and silver manipulation is that obvious now, why nobody has took the opportunity to get in and force the market to a default

Just because it hasn’t happened yet, doesn’t mean it won’t happen, especially in silver. Also, if someone big came in with the intent to move prices higher, that person could be accused of manipulation, something to be avoided. It’s much better that a lot of investors buy silver, instead of just one or two large investors.

4) What can you say about the Hunt Brothers event and do you see a comex default coming? You have been warning about this. Do you have a deadline for a comex default?

It does appear that the Hunt Brothers did manipulate silver prices higher in 1980, because without their buying I doubt silver would have gone to $50 back then. Today, it’s the opposite in that many investors are buying silver which is much healthier. I think a COMEX default is a real possibility, although it is not certain. What is certain is that if a market is artificially depressed in price, as I believe silver is, then that must result in a physical shortage at some point. Of course, no one can say precisely when.

5) What is your current view of the markets, the comex inventories, and your latest analysis about gold and silver

The silver physical market looks tighter than I have ever seen and it’s just a matter of time before that is reflected in the price.

6) What are the most important indicators, reports you follow on a weekly basis to understand the gold and silver price dynamics?

I try to look at everything, including physical developments, regulatory developments and changes in the market structure as indicated by the weekly Commitment of Traders Reports. But it’s important to remember that these are short term factors and the silver investor stands a better chance of success by holding for the long term.
7) What are the best sources of information for fundamental analysis of the gold and silver markets? What works for you?

While I look at everything possible, the thing that works for me is to apply common sense in interpreting the data. I always ask myself, what’s the most logical way to judge the data?

8) Thanks, Ted. we would like to know what are the main sources of information you follow religiously. Who are those analysts or organizations you follow closely ?

I listen to what everyone says, but I am more concerned with the reasons they give to back up their conclusions. Then I try to filter the data and the opinions in an intelligent manner.


9) What is your current view of the US /Europe sovereign debt crisis and currency crisis. How do you see gold and silver for the rest of 2010, and 2011?

I’m more concerned with silver than gold, because silver represents a better value to me. I follow all these macro-economic stories, but I don’t think they matter much for silver.

10) Do you have an opinion related with the latest FED policies and what would you expect to happen as a result of their policies?

No opinion at all.

11) If you were chairman of Federal Reserve, what policies you would like to implement the first day?
I haven’t a clue, so I guess it’s a good thing there is no chance I would ever be in that position.

12) What is your opinion about the Obama administration.

I didn’t vote for him, but I don’t know what I would have him do differently, given all the circumstances he inherited. It’s easy to criticise anyone, but much more difficult to come up with constructive alternatives to what is being criticized.

13) Could you explain with simple terms how the “gold suppression network” operates, who are their members, and how they keep “ the game alive” from such a long time

While I was among the very first to point out the gold manipulation due to leasing and concentrated short selling, compared to silver, gold is hardly suppressed any more. After all, it is at all time highs, due largely to investor buying and the end of leasing. Silver is where the manipulation is alive and active.

14) What are the undeniable evidences you could offer in a court now about the gold and silver manipulation?

The US Government’s own data which shows an unusually large concentration on the short side on the COMEX. Concentration is the proof of manipulation. Further, government data shows that one large US bank, JPMorgan is the biggest silver short of all. What the heck is a US bank doing being short so much silver?


15) How much gold and silver investors should hold in their portfolio? Could you tell us the composition of your portfolio ?

I’m not a financial advisor, but I’m very over weighted to silver.

16) Which are your favourite gold and silver companies?

I’ll take a pass on that, as I would then be obligated to follow up as I changed my mind.

17) What can you say about the current CFTC commission? What do you believe the CFTC is going to do with position limits in the gold and silver markets

I still have a high regard for Chairman Gensler, although I have grown impatient with his failure to deal with the silver manipulation in a more timely manner. The new law, just signed by the npresident appears to mandate position limits. Now the real questions are what will the level be for silver and will the Commission continue to look the other way when it comes to the big silver shorts or will they be included in position limits?

18) The Baltic Dry Index, which is an economic indicator of future commodity demand is down almost 60% in 2 ½ months. The “deflation talk” is back again. Some analysts believe that “deflation” evidences and the supposed “ M3 contraction” are undeniable evidences that gold and silver will be under control. What are your comments on this?

That’s not in my area of knowledge.

19) What is your view on gold and silver ETF’S, do you recommend any of these instrument vehicles?

It gets many upset, but I think they are generally fine and have helped the supply/demand equation. I think people should buy Silver Eagles or silver they can hold instead of SLV if they can. But if the choice is between SLV or nothing silver, then they should buy the SLV

20) Do you believe GLD and SLV are still tools for the manipulation scheme? What are the evidences pointing in that direction if this is the case?

I never thought they were tools of the manipulation, except their shares should not be allowed to be shorted.

21) Do you believe physical bullion is the best way to buy gold and silver , or what are the investment vehicles you recommend now

Physical silver is still the best way to own silver.

22) Finally, do you see a gold and silver standard coming later? How this crisis is going to end according to your view?

I don’t see a metal standard, but I could be wrong. Maybe we could have some type of gold standard, but there’s not enough silver for any kind of standard. Since there is less silver bullion in the world than there is gold bullion and the price of silver is so cheap, people can establish their own silver standard now by buying silver while it’s available at current prices. As far as the crisis ending, I think there will always be some crisis to contend with. The trick is to deal with it on a personal basis and get on with the business of living. I think owning silver here will go a long way towards helping people cope with whatever financial crises develop in the future.

MY INTERVIEW TO TED BUTLER

So, I am publishing my interview to Ted Butler in English on GLP

here is the link:

http://www.godlikeproductions.com/forum1/message1143592/pg1

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