From Financial Insights

by Dr. Richard S. Appel

April 2004 edition

One issue that greatly impresses me is the effect of a recent unified letter campaign to various government officials. These letters outlined the abuses that have allegedly influenced the free-trading silver market.

It is believed that a group of bullion banks, brokerage firms, and commercial interests have acted for years to suppress the price of silver.

Ted Butler, who has long championed silver, initiated the campaign. He was responsible for the outpouring of thousands of individual letters to important officials such as Elliot Spitzer, New York's attorney general.

Mr. Butler's coaxing, along with that of the Gold Anti-Trust Action Committee (www.GATA.org), was instrumental in a flurry of letters that appear to have forced the authorities to at minimum look into these allegations.

It is amazing that shortly after the campaign was initiated, silver appeared to become freed from the shackles that had prevented its price appreciation for a number of years. The timing was that precise.

If the allegations are true, which I believe is likely, those who have worked to maintain silver at an artificially low price will now be forced to stand aside and allow the market to set its own course. They will do this for fear of government sanctions against their indefensible actions.

To me this is truly a great win for "the little guy, "the man in the street, all of us! Further, it proves that a number of people working together in search for truth and justice can actually make a difference!

My hat is off to Ted Butler and GATA.

It is amazing how powerful the Internet can be if utilized properly. In this instance the availability of instantaneous communications allowed a vast number of individuals from varying countries and different walks of life to connect for a like-minded goal.