I’ve been reading Ted Butler’s take on the above interactions for years.
I did a search of Gumshoe and found only a 2011 reference to his thoughts on silver in a piece that was otherwise about silver coins.
I think his views need some careful consideration, and I would suggest you and the irregulars take a look at this chart (with my apologies for the URL but let’s all get to the right place:
Now look at the price action for silver and then correlate the action of the Large Commercial Speculators’ Commitments – the red line second from the bottom of the chart set. It fits Butler’s thesis to a T.
What do you think about all this? If you need any of Butler’s writings, please send me a fax and I’ll dig out the most comprehensive of his summaries. That would be more accurate than my trying to paraphrase him here.
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