TWO OUT OF FOUR (SO FAR) AIN’T BAD
In 2000, when I first began to establish a relationship with Ted Butler, he had four basic premises:
- Silver and gold leasing, although large, was uneconomic and fool hardy. Time and again he warned mining companies like Barrick that they risked huge losses.
- The large short position in silver was fraudulent and would eventually have to be closed out, thus generating higher prices.
- Most of the silver held in storage for the customers of brokerage firms and banks did not exist. They were charging storage fees on nothing.
- An eventual silver shortage would start an industrial panic for silver.
All these arguments were considered outlandish at the time. Most people who heard Mr. Butler’s opinions considered him to be an eccentric. Let’s face it, at the time it was a far-fetched scenario, totally outside the mainstream of financial commentary.
Subsequently, Barrick lost billions, exactly as Mr. Butler predicted. Recently, Morgan Stanley admitted that the silver they were supposedly storing didn’t exist. They claimed this to be an industry-wide practice. (Unbelievable!)
Seems to be that these two events give enormous credibility to Mr. Butler’s other opinions. So far his price predictions are working. Since we began to rely on Mr. Butler’s views, silver has tripled.
There are no guaranties, but based on his record of accuracy, you have to suspect many of his price projections will prove out. If and when they do, we’re talking about something that can radically alter your financial affairs for the better.
According to Mr. Butler, the fact that his other two predictions haven’t happened yet means that a great opportunity still exists in silver. He says that once these two things happen, the time will be past when you can make a lot of money in silver. Then it will be too late. “I urge you not to let this once in a lifetime chance for large profits slip by,” says Ted.
