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Interview with Jim Cook
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Thread: Interview with Jim Cook

  1. #1
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    Default Interview with Jim Cook

    Theodore Butler | September 28, 2017 - 9:32am

    Cook: Are you disappointed with the recent price action in silver?

    Butler: Of course, I thought we might finally be breaking out.



    Cook: What happened?

    Butler: Itís the same old story. As I outlined previously, we were setup for a strong rally at the recent lows, but whether the rally was of the now-typical $2 to $3 variety or the big one was based upon whether JPMorgan added aggressively to COMEX silver short positions. JPMorgan, once again, stopped the silver rally cold by adding massive amounts of short contracts, just as they have on every silver rally over the past ten years.



    Cook: How many contracts did they add?

    Butler: Over the course of eight weeks JPMorgan added 23,000 new short contracts, the equivalent of 115 million ounces (on top of the 75 million ounces they were already short).



    Cook: Why are they doing this?

    Butler: To make both short term and long term profits.



    Cook: How do they do that?

    Butler: JPMorgan buys back the added short positions at lower prices. They have always made short term profits, with never a loss Ė a track record impossible in a free market. Secondly, since they continue to buy physical silver hand over fist at their self-created lower prices, JPM will profit immensely on their massive physical position whenever they take their foot off the neck of the price.



    Cook: How much actual silver do you think they hold?

    Butler: At least 650 million ounces.



    Cook: How much longer do you think JPMorgan will be suppressing the price of silver so that they can accumulate more on the cheap?

    Butler: Thatís the billion dollar question to which I have no crystal ball. Truth be told, I thought they would have let it go when they held half as much silver as they do now. Back then they held three times as much as was held by the Hunt Brothers or Warren Buffett. Now JPM holds up to six times as much.



    Cook: Can they do this forever?

    Butler: Why would they? Thereís no payoff for accumulating forever. The only plausible explanation for anyone massively acquiring any asset is the expectation of higher prices. JPMorgan is accumulating silver for one reason and one reason only Ė to make as large a profit as possible.



    Cook: Is it possible the Government has given JPMorgan a mandate to hold down the price of gold and silver?

    Butler: I know this is a popular opinion that seems to make sense, but thereís little direct proof of that. Besides, thereís a much better explanation.



    Cook: What is that?

    Butler: JPMorgan and other big banks are having a field day taking money away from the managed money traders (the longs) in full view and making billions of dollars in the process. I think thatís the prime motive for the price manipulation, rather than some broad government conspiracy. The motive is big and easy money.



    Cook: Could the regulators put an end to this manipulation which you call a serious crime in progress?

    Butler: Sure, they could, but I doubt they will. They are probably embarrassed for not having intervened to this point. How does the CFTC come out now and crack down on JPMorgan after letting them slide for nearly ten years?



    Cook: Whatís the downside of the price of silver at todayís levels?

    Butler: A dollar or so, maybe more if JPMorgan and the commercials so decide. They need to get the technical funds to sell so that they can buy back their short positions. The only way JPMorgan and the commercials can do that is by rigging a series of new price lows that induces the technical funds to sell. I call it slicing the salami. That process seems to be underway and once it is complete, there will be little or no risk of lower prices.



    Cook: Whatís the upside for silver?

    Butler: Almost unlimited. Thatís what makes silver the best investment opportunity around. The risk in the short term is limited and when this current rig job on the COMEX is complete, there will be virtually no risk remaining Ė only massive profit potential.



    Cook: A lot of people have been holding silver patiently for a long time. What do you say to them to ease their frustration?

    Butler: Understanding the facts for why silver prices remain so low and why they will explode, are the only real solution to any frustration for why silver prices havenít moved higher. They are the reason to expect much higher prices to come. It would be far more frustrating if we didnít know about the COMEX and JPMorgan.


    Cook: Are you backing off your prediction that people can make ten times their money with silver?

    Butler: Heck no. In fact itís a lot more likely, mathematically, for silver to go up ten times from the current price than it will be at higher prices. And considering how little actual silver exists in the world and how much of that is now owned by JPMorgan, the odds for a ten-bagger are better than ever.

    Ted Butler

    September 28, 2017
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

  2. #2
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    Good gravy as my wife from the country farm use to say!!!

    Ted now believes JP Morgan owns 650 million ounces of Silver and building, think about that number and compare it to the COMEX warehouse totals and the amount in all of the worlds ETF's...

    Ted is still claiming the world supply is running out, apparently using JP Morgan as the reason for the supply shortage as anyone with half a brain knows it's been building as investors have not been adding very much over the past couple years and manufacturing is still behind in many areas.

    My favorite line of his:

    "Butler: JPMorgan buys back the added short positions at lower prices. They have always made short term profits, with never a loss Ė a track record impossible in a free market. Secondly, since they continue to buy physical silver hand over fist at their self-created lower prices, JPM will profit immensely on their massive physical position whenever they take their foot off the neck of the price."

    I still want to know how JP Morgan was able to get all the brokers to get some other suckers to settle their short contracts during that run up in the Silver price from August of 2010 to April of 2011 when it gained $30. Now I'm fairly confident that more than a couple investors during that time frame with long contracts did settle for a profit and someone holding the opposing short contract did have to take a hit on each one of those contracts that were closed. To actually try and make anyone believe JP Morgan or any other investor holding short contracts during that time frame was immune from taking a beating, well they might also believe in prehistoric animals still roaming around on the COMEX trading floor.

    To be fair, Ted does make one correct statement, even if it's just a wild a$$ speculation for the future, numbers don't lie:

    "Butler: Heck no. In fact itís a lot more likely, mathematically, for silver to go up ten times from the current price than it will be at higher prices."

    Let's see 10 x $17 = $170 versus 10 x $30 = $300, yep, makes sense...
    Last edited by valerb; 28th September 2017 at 18:25.
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

  3. #3
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    Cool laid back bear (with my mind on my money and my money on my mind)

    Better that Mr. Butler takes a firm position and expresses a strong opinion like a man, than to be the usual pussy.

    I just saw this Smoking Panda for the first time, and really like the design.


    If I were into gold and Chinese coins, (I'm into neither as both are overvalued) then I'd want one of them.
    The stoned expression on the panda is hilarious.
    "I foresee little future in 'the price of silver', I see a huge future for 'the price in silver'." - heartbone
    "The truth is called hate by those who hate the truth." - K

  4. #4
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    Quote Originally Posted by silverheartbone View Post
    Better that Mr. Butler takes a firm position and expresses a strong opinion like a man, than to be the usual pussy.

    Apparently you will always support anyone that is a professional Silver huckster for decades as long as they keep your $3,100 Silver spot price dream alive. Good luck in your fantasy land. I guess it's JP Morgans fault that ASE sales are down so drastically because they are not buying them by the tens of millions as they were in the past couple years, according to Teddy. Another one of that crazy old fossils theories and to think they would pay the US Mint an unnecessary $2 per ASE premium by the tens of millions and then turn them around and pay a refinery to turn them Back into 1,000 bars from once they came. Of course we all know management at JP Morgan is run by idiots and they do not use sound judgement when it comes to investment decisions. How is Teddy privy to such inside information, it's his squad of turn coat raptors that are pissed at JP Morgan of course. I guess it's only fitting that someone old enough to personally know prehistoric animals would be able to solicit their assistance.
    Last edited by valerb; 29th September 2017 at 23:40.
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

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