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Jim Cook

 

RUNAWAY SOCIAL SYMPATHY

Every once in a while I switch the TV channel from Fox to CNBC to see what the liberals are saying.  After listening awhile I get a deep sense of hopelessness and foreboding for our country.  The most important thing for the left is giving money to people.  They are happy to see the growth of food stamps, disability payments, housing subsidies, free healthcare and all the other welfare benefits.  They utterly fail to see the damage it is doing to the recipients.  Whole cities that once flourished have deteriorated into rotting eyesores populated with shambling hulks of chemically dependent drones.  These people are no longer employable.  They have become incompetent and helpless and the liberals can’t see that it’s their doing.

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The Best of Jim Cook Archive

 
Commentary Of The Month
June 30, 2015
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FIRST MAJESTIC QUESTIONS THE CFTC

By Lawrence Williams, Mineweb

Silver is a tiny market in comparison with gold, which lays it open to speculative manipulation by big money. So we return to the views of specialist silver analyst Ted Butler. As we noted in a previous article on Mineweb, There can’t be anyone out there who examines and researches the silver markets like Ted Butler, and some will consider his findings and assumptions, particularly with respect to his theorizing on JPMorgan’s undue impact on the silver market, a little over the top. However, he has been delving deeply into the market’s inner workings and pricings for as long as I can remember – at least 30 years – and his views should certainly not be discarded.”

Butler questions the enormous levels of silver shorts on COMEX held by the bullion banks – and by JPMorgan in particular. Butler noted, “U.S. Government data unquestionably prove speculators are setting the price of silver on the COMEX to the exclusion of actual silver producers and consumers and that is far from the intent and spirit of U.S. commodity law.”

Butler has also been trying to persuade the silver miners to request the Commodity Futures Trading Commission – to investigate. And now, Keith Neumeyer, President and CEO of First Majestic, one of the world’s largest primary silver miners, has stepped up to the plate with a formal request that the CFTC should examine the COMEX trading and short positions.
“It occurs to me,” Neumeyer says in his letter to the CFTC Chairman, Timothy Massad, “that such massive speculation in COMEX silver futures may not be in keeping with the spirit and intent of commodity law and something is wrong with the price discovery process.” Neumeyer goes on to suggest that these issues need to be addressed by the CFTC.