A Hidden Silver Default?

[webmaster]

Subject:A Hidden Silver Default?
By: Theodore Butler

Overview: Today I am going to write on a subject that I feel is of the utmost importance to all silver investors. It’s particularly important to those holding shares of the Barclays silver ETF, traded on the American Stock Exchange under the symbol SLV. Because this may prove to be quite controversial as well, I will attempt to be thorough in my discussion, in the hopes that my words will not be misinterpreted. Although I will try to keep it short and simple, there is much to discuss.

Link: http://news.silverseek.com/TedButler/1213640342.php

[FedFixNix]

Originally Posted by webmaster

Subject:A Hidden Silver Default?
By: Theodore Butler

Overview: Today I am going to write on a subject that I feel is of the utmost importance to all silver investors. It’s particularly important to those holding shares of the Barclays silver ETF, traded on the American Stock Exchange under the symbol SLV. Because this may prove to be quite controversial as well, I will attempt to be thorough in my discussion, in the hopes that my words will not be misinterpreted. Although I will try to keep it short and simple, there is much to discuss.

Link: http://news.silverseek.com/TedButler/1213640342.php

Ted, I for one, am very grateful for your honesty and persistence. There is much to discuss indeed.

Of course this also ties into the "Naked Bogeyman" thread here:

http://forums.silverseek.com/showthr...ted=1#post5853

...and the exchange between Jason Hommel and Antal Fekete about whether or not there is naked short selling and price manipulation in the PM markets.

Thank you for writing and posting this excellent detective work.

FedFixNix

[Duffminster]

Hi,

I have a good deal tied up in SLV and I am concerned about this issue of this article. I will happily write a letter. That being said, I'm hoping someone could draft a good one page (two at the most) that would be a form letter that all of us SLV holders could send, I'll pass it around on some of the other forums of SLV investors.

Any help with this would be appreciated. Also, Mr. Butler, if you read this post I hope you will find your way over to the the yahoo groups for finance under the SLV and post there as there is often great debate on your letters and theory taking place there.

Thanks,
Duffminster

[mls56]

Originally Posted by Duffminster

Hi,

I have a good deal tied up in SLV and I am concerned about this issue of this article. I will happily write a letter. That being said, I'm hoping someone could draft a good one page (two at the most) that would be a form letter that all of us SLV holders could send, I'll pass it around on some of the other forums of SLV investors.

Any help with this would be appreciated. Also, Mr. Butler, if you read this post I hope you will find your way over to the the yahoo groups for finance under the SLV and post there as there is often great debate on your letters and theory taking place there.

Thanks,
Duffminster

Duffminster, I hope you get good imput on your draft! You are doing us all a great service, many of us are not writers, but we do take this subject to Heart, we owe Ted & all that show concern for other much, Thanks so much, from a Southern Man!!

[Round Town]

for following thru with your investigation on the ETFs. Mr Hommel and Mr Fekete have gotten sidetracked by their own positions on usury/spread and have forgotten the original point, of the shorts manipulating the market. Lets hope this article can prove a basis of fraud that seems to be extensive and root it out so that we can have a market free of manipulation.

Also I wonder, where on earth have the ETFs gotten all of the silver, without creating a shortage, that they have in the vaults? I can barely buy a few ounces at a time from a local coin dealer. He just don't have the wares to sell. He keeps telling me that everybody is buying right now.

The view from my pile, yours may be different.
Bob

[JesterJay]

Bob,

Mr Butler tells us where most of the ETF silver came from.
130 million ounces from Mr. Buffet. I am sure they had almost all the other 65 million ounces lined up and reasonably ready to go BEFORE they got the OK to form the ETF.

They had an inside track on how this decision would go. You KNOW THAT. How could they have done it with so little effect on the market, otherwise? Now they are short selling and leasing out that stockpile too, evidently.

I have been saying for the last 2 years that the ETFs and other "hold it for you" entities DO NOT HAVE THE SILVER to back their obligations. I guess Ted just proved that for me.

The more things change, the more they stay the same.
JesterJay

Originally Posted by Round Town

Also I wonder, where on earth have the ETFs gotten all of the silver, without creating a shortage, that they have in the vaults? I can barely buy a few ounces at a time from a local coin dealer. He just don't have the wares to sell. He keeps telling me that everybody is buying right now.

The view from my pile, yours may be different.
Bob

[duneyman]

I just read Ted Butler's article. Maybe I am tired and in a bad mood now but after reading him for seven years I feel as if I know what he is going to say every week. Just wait a little while longer and the crisis will hit and the price of silver will explode and we all will be rich. And, of course, nothing ever happens !
I wouldn't have invested so much into silver if it wasn't for Warren Buffett and David Morgan. Ted does seem to present a good case and to my knowledge no one in government or Wall Street, etc. has ever challenged and refuted his arguments but after all this time my patience is surely being tested. I will stick it out if only to wait for a possibe currency/financial crisis to lift gold and carry silver along with it. I actually did sell some of my silver a few weeks ago to buy some gold since gold seems to have better supply/demand fundamentals. Doe anyone here share my frustration with the continual super bullishness of Ted Butler with little so far to show for it ?

[JesterJay]

Talk about "Gotta have it NOW" syndrome. You got it bad. I do too, of course, but I am dealing with it quite well.
Ted has said all along that this is a LONG TERM POSITON. Not for the faint of heart or those who think they can get rich quick.
Look at all that HAS happened and I think you will change your tune that "nothing ever happens". His articles spell out what is happening, what has happened, how that applies to what he has said and prognosticated. He tells us when he was wrong and why. "All In" was the call a few months ago and it applies even more now with ALL the "more public" talk of commodities manipulation in general and the ETFs internal defaults to its shareholders specifically spelled out in his latest writings.
Can you NOT feel it? The Quickening is in the early stages. It is here.
Silver took the biggest jump of the year today too.
How's THAT for something?
JesterJay

Originally Posted by duneyman

I just read Ted Butler's article. Maybe I am tired and in a bad mood now but after reading him for seven years I feel as if I know what he is going to say every week. Just wait a little while longer and the crisis will hit and the price of silver will explode and we all will be rich. And, of course, nothing ever happens !
I wouldn't have invested so much into silver if it wasn't for Warren Buffett and David Morgan. Ted does seem to present a good case and to my knowledge no one in government or Wall Street, etc. has ever challenged and refuted his arguments but after all this time my patience is surely being tested. I will stick it out if only to wait for a possibe currency/financial crisis to lift gold and carry silver along with it. I actually did sell some of my silver a few weeks ago to buy some gold since gold seems to have better supply/demand fundamentals. Doe anyone here share my frustration with the continual super bullishness of Ted Butler with little so far to show for it ?

[duneyman]

I have had silver for seven years now so I am definitely in it for the long term. Of course, positive things have happened with silver in the past few years but no price explosion yet as Ted is constanty predicting. I have a much more realistic view of the silver market now and there is plenty of money to be made trading on silver 's volatility in addition to one's long term holdings. At least now I can read his weekly articles with more objectivity and experience and fewer dreams of soon to be riches. For example, what ever happened to the big silver deficits ? Now, there seems to be a surplus. Ted said that wouldn't happen until silver was way way up there.

[FedFixNix]

Originally Posted by duneyman

I have had silver for seven years now so I am definitely in it for the long term. Of course, positive things have happened with silver in the past few years but no price explosion yet as Ted is constanty predicting. I have a much more realistic view of the silver market now and there is plenty of money to be made trading on silver 's volatility in addition to one's long term holdings. At least now I can read his weekly articles with more objectivity and experience and fewer dreams of soon to be riches. For example, what ever happened to the big silver deficits ? Now, there seems to be a surplus. Ted said that wouldn't happen until silver was way way up there.

You've got me scratching my head here. What happened to the silver deficits? There now seems to be a surplus?

Are we living on the same planet?

Are you actually reading what Ted is writing?

It sure doesn't sound like it on either of these points.

FFN