Generated by All in One SEO Pro v4.9.6.1, this is an llms.txt file, used by LLMs to index the site. # Investment Rarities Incorporated Gold & Silver bullion and coins since 1973 ## Sitemaps - [XML Sitemap](https://www.investmentrarities.com/sitemap.xml): Contains all public & indexable URLs for this website. ## Posts - [BEST OF JIM COOK JUNE 10 2026](https://www.investmentrarities.com/best-of-jim-cook-june-10-2026/) - AN IMPORTANT ANNOUNCEMENT FROM JIM COOK After more than five decades in the precious metals business (250,000 clients served and over three billion dollars in gold and silver sold and delivered), I have made the decision that it is time to pass the torch. IRI Holdings Inc. has acquired Investment Rarities Incorporated, the company I - [Gold IRA Vs Physical Gold In Texas](https://www.investmentrarities.com/gold-ira-vs-physical-gold-in-texas/) - Discover the key differences between Gold IRA and physical gold in Texas, including benefits, risks, and investment insights to maximize your wealth—start securing your future today!. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-august-11-2009/) - Tomorrow, August 12, 2009, is the last day for members of the public to submit comments regarding the hearings the CFTC held on speculative position limits in energy and other physical commodities of finite supply. If you feel you have comments to make on this specific issue, here are the instructions – Click Here Here is - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-august-11-2008/) - BACK TO THE START (This essay was written by silver analyst Theodore Butler, an Independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) I was just guessing at numbers and figures Pulling the puzzles apart. Questions of science, science and progress Don’t speak as loud - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-7-2017/) - TRAPPED One must be careful in pronouncing any specific time as to when a great price rise might occur in silver. After all, most of us have been waiting a long time for the price of silver to explode – no one longer than me. On the other hand, it would be a disservice not - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-7-2010/) - A Time to Act The reaction to the CFTC meeting on March 25 continues to be great in precious metals circles. More commentary has been generated by this meeting than even I expected. The hearing brought to the forefront the most important issues in silver, namely, position limits, concentration and the allegations of manipulation on - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-7-2009/) - A Simple Decision (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) One thing you can say about the recent sharp sell-off in silver, at the very least, is that it forces you to think. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-5-2006/) - The Learning Curve By Theodore Butler (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Silver (and gold) prices have now climbed to levels not seen in 20+ years. Volatility has increased proportionately and appears - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-30-2014/) - TRUMPING PAPER SILVER For many years the world consumed more silver than was produced. It was called a consumption deficit. That stopped around 2006. The 10 billion ounces that existed in 1940 have been depreciated by 90% over the past 75 years. Even though industrial demand takes up to 90% of the silver mined or - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-28-2017/) - STILL ACCUMULATING I don’t accept that any outside factors or even the election have much to do with gold and silver price performance. Instead, the evidence points to the big positioning changes in COMEX gold and silver futures as being solely responsible for price ups and downs. Those doing the most buying and selling don’t - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-28-2016/) - THEODORE BUTLER INTERVIEW Cook: Has JPMorgan become the most important story in silver? Butler: Yes, by far. Apart from the inevitable physical silver shortage, JPM is all that matters. Cook: Why? Butler: Because JPMorgan not only owns more silver than any other private entity in history, it also is the dominant force in COMEX trading - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-27-2009/) - DANGEROUS PARALLELS (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) In a moment, I’ll comment on the developing structure in the COMEX silver and gold futures market. The nice set-up in silver and gold - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-august-26-2003/) - Discover Ted Butler Commentary from August 26, 2003, featuring perspectives on investing in silver coins and precious metals discussions. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-february-25-2011/) - Read Ted Butler Commentary from February 25, 2011, with educational insights related to buying silver bar products and market commentary. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-january-16-2010/) - Explore Ted Butler Commentary from January 16, 2010, featuring informative discussion on gold and silver investing and market developments. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-8-2006/) - Discover Ted Butler Commentary from May 8, 2006, discussing silver bars to buy and sharing commentary on precious metals market activity. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-25-2005/) - Read Ted Butler Commentary from October 25, 2005, with educational insights on investing in gold and silver during changing market conditions. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-23-2017/) - Explore Ted Butler Commentary from June 23, 2017, covering buying silver bars as investment assets and historical market perspectives. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-10-2010/) - Discover Ted Butler Commentary from April 10, 2010, featuring educational insights into gold IRAs and precious metals market developments. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-january-14-2003/) - Read Ted Butler Commentary from January 14, 2003, discussing purchase silver bars and providing historical precious metals commentary. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-25-2003/) - Explore Ted Butler Commentary from March 25, 2003, covering educational perspectives on gold investment in US precious metals markets. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-25-2012/) - Discover Ted Butler Commentary from May 25, 2012, with insights on investing in silver coins and ongoing precious metals market developments. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-10-2009/) - Explore Ted Butler Commentary from March 10, 2009, featuring educational insights on gold and silver investing and historical developments in precious metals markets. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-january-12-2009/) - Read Ted Butler Commentary from January 12, 2009, discussing investing in silver coins and providing perspectives on precious metals market activity. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-february-12-2001/) - Discover Ted Butler Commentary from February 12, 2001, with informative discussion on gold investment in US markets and silver industry developments. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-3-2002/) - Review Ted Butler Commentary from July 3, 2002, featuring educational insights related to purchase silver bars and long-term metals market trends. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-1-2005/) - Read Ted Butler Commentary from March 1, 2005, exploring historical perspectives on buying silver bars as investment assets within evolving markets. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-january-30-2010/) - Explore Ted Butler Commentary from January 30, 2010, with commentary on investing in gold and silver and broader precious metals discussions. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-6-2007/) - Discover Ted Butler Commentary from March 6, 2007, featuring educational content on silver bars to buy and notable precious metals activity. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-february-20-2010/) - Read Ted Butler Commentary from February 20, 2010, discussing gold IRAs and providing insights into historical precious metals market conditions. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-10-2001-2/) - Explore Ted Butler Commentary from December 10, 2001, featuring information on gold and silver investing and historical market observations. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-4-2008/) - Read Ted Butler Commentary from November 4, 2008, including educational discussion related to buying silver bar products and market movements. - [Best of Jim Cook](https://www.investmentrarities.com/best-jim-cook-december-21-2007/) - Read Jim Cook’s December 21, 2007 commentary covering economic trends and precious metals, providing insight into gold and silver. - [Best of Jim Cook](https://www.investmentrarities.com/best-jim-cook-december-21-2006/) - Explore Jim Cook’s December 21, 2006 commentary discussing market activity and precious metals, offering perspective on gold and silver. - 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Explore Jim Cook’s August 5, 2008 commentary with observations on market shifts and precious metals, offering context for gold and silver. - [Best of Jim Cook](https://www.investmentrarities.com/best-jim-cook-august-5-2003/) - Read Jim Cook’s August 5, 2003 commentary covering market trends and precious metals, providing insight into gold and silver discussions. - [Best of Jim Cook](https://www.investmentrarities.com/best-jim-cook-august-4-2015/) - Review Jim Cook’s August 4, 2015 commentary discussing precious metals and economic conditions, offering perspective for gold and silver research. - [Best of Jim Cook](https://www.investmentrarities.com/best-jim-cook-august-31-2016/) - Explore Jim Cook’s August 31, 2016 commentary highlighting market developments and precious metals, offering insight into gold and silver trends. - [Best of Jim Cook](https://www.investmentrarities.com/best-jim-cook-august-31-2006/) - Read Jim Cook’s August 31, 2006 commentary covering economic conditions and precious metals, providing context for gold and silver markets. - 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A Long Time Coming By Theodore Butler (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) It has been almost eight months since I’ve been able to write about a dealer short-covering clean out in - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-22-2015/) - ALMOST UNBELIEVABLE Quite unexpectedly, two brand new factors have emerged in silver that may be the most compelling yet in pointing to sharply higher prices. These two new factors are so supportive for higher prices as to verge on being almost unbelievable. Yet the evidence behind one factor is strong and the second factor can’t - [TED BUTLER COMMENTARY](https://www.investmentrarities.com/ted-butler-commentary-april-20-2018/) - MR. DIMON’S OMMISSION I caught a brief interview on CNBC last week with Jamie Dimon, CEO of JPMorgan, that only amped up my question about how the bank could avoid the growing allegations of serious wrongdoing in silver. I’ve always found Dimon to be a straight shooter and were it not for what I have - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-20-2009/) - A BLAST FROM THE PAST (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) When you follow silver and think about it as intensively as I do, it’s hard not to focus on the day-to-day - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-18-2014/) - TURNOVER For the past three years, I have commented on the turnover or movement in and out of the COMEX-approved silver warehouses. Prior to April 2011, I had noticed no particular pattern in these inventories. Since that time, there has been a noticeable pattern of large daily and weekly deposits and withdrawals of silver from - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-18-2006/) - A Cornered Rat? By Theodore Butler (This essay was written by silver analyst Theodore butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The recent price moves in commodities, particularly the metals, have been nothing short of spectacular. We are witnessing unprecedented gains - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-16-2012/) - JPMORGAN ON TV The head of commodities for JPMorgan, Blythe Masters, gave a short interview Thursday on CNBC. She claimed that all of JPMorgan’s positions in silver were to accommodate legitimate client hedging needs. This is the first time that JPMorgan has openly acknowledged the allegations against it for manipulating the price of silver. The - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-14-2009/) - A Nice Set Up (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) A number of different factors have converged, creating what could be a lift-off point for the price of silver (and gold). This - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-13-2015/) - STUPID CHEAP Following nearly two months of a protracted (and orchestrated) price swoon, the price of silver rose last week. The silver/gold price ratio tightened by more than 3 full points to under 71 to 1. The ratio sits at the lowest levels of the range and threatens to move much lower (silver outperforming gold). - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-february-17-2020-3/) - Jim Cook’s Feb 17, 2020, This report offers a deep dive into gold. Learn more about gold investing with a focus on education and personal service. - [Best of Jim Cook](https://www.investmentrarities.com/best-jim-cook-february-26-2002/) - Best of Jim Cook for Feb 26, 2002. Gain valuable historical context on bullion and learn how to buy silver bars and coins from an established dealer. - [Best of Jim Cook](https://www.investmentrarities.com/best-jim-cook-january-8-2002-2/) - Jim Cook’s Jan 8, 2002, archive explores the early 2000s gold market. Discover gold’s historical role in long-term financial strategies. - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-july-1-2023/) - Read the Best of Jim Cook from July 1, 2023. 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Gain insights on market trends. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-february-4-2019/) - Access Theodore Butler’s February 4, 2019 silver archive with expert insights on price action and trends that guide when to buy silver coins. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-april-6-2022/) - Read Theodore Butler’s April 6, 2022 silver analysis examining price behavior, market structure, and outlook for those investing in silver. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-june-22-2020/) - Explore Theodore Butler’s June 22, 2020 silver commentary covering market dynamics, futures activity, and insights relevant to purchase silver coins. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-december-20-2023/) - Discover Theodore Butler’s December 20, 2023 silver archive featuring timely analysis on market conditions and strategies to buy silver bars. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-may-20-2019/) - Read Theodore Butler’s May 20, 2019 silver analysis with expert commentary on price trends and structural factors for those investing in silver. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-december-1-2021/) - Explore Theodore Butler’s December 1, 2021 silver insights analyzing market positioning and long-term forces shaping the best place to buy silver. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-may-18-2020/) - Access Theodore Butler’s May 18, 2020 silver archive with detailed commentary on price behavior, market stress, and signals tied to buy silver coins. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-november-8-2019/) - Review Theodore Butler’s November 8, 2019 silver commentary offering market insight and price analysis valuable for those investing in silver. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-february-22-2022/) - Discover Theodore Butler’s February 22, 2022 silver analysis with expert insight into market trends, supply dynamics, and opportunities to purchase silver coins. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-april-9-2021/) - Read the April 9, 2021 Theodore Butler silver archive covering price movements, futures positioning, and signals relevant to buy silver bars. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-january-4-2023/) - Explore Theodore Butler’s January 4, 2023 silver commentary with insights on market mechanics and trends important for long-term investing in silver. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-november-6-2020/) - Access Theodore Butler’s November 6, 2020 silver analysis highlighting key price drivers and structural factors influencing the best place to buy silver. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-july-20-2022/) - Discover Theodore Butler’s July 20, 2022 silver archive with expert commentary on market forces, positioning shifts, and timing for those who buy silver coins. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-december-3-2018/) - Read Theodore Butler’s December 3, 2018 silver insights examining price behavior, market positioning, and conditions impacting investing in silver strategies. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-july-7-2018/) - Explore the July 7, 2018 Theodore Butler silver commentary with analysis on market structure and trends that matter when planning to purchase silver coins. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-september-14-2018/) - Review Theodore Butler’s September 14, 2018 silver archive featuring expert insights on futures activity and physical demand tied to buy silver bars. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-august-1-2018/) - Access Theodore Butler’s August 1, 2018 silver analysis discussing price dynamics, supply factors, and market signals valuable for those investing in silver. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-april-18-2023/) - Discover Theodore Butler’s April 18, 2023 silver commentary covering market forces, positioning, and long-term trends for investors seeking the best place to buy silver. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-july-5-2021/) - Read Theodore Butler’s July 5, 2021 silver archive with in-depth analysis on market structure, price behavior, and fundamentals relevant to buy silver coins. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-august-16-2021/) - Explore Theodore Butler’s August 16, 2021 silver market insights, offering expert perspective on price action, positioning, and trends for those investing in silver. - [Gold IRA Vs Physical Gold In Ohio](https://www.investmentrarities.com/gold-ira-vs-physical-gold-in-ohio/) - Discover the key differences between Gold IRA and physical gold in Ohio. - [Gold IRA Vs Physical Gold In Michigan](https://www.investmentrarities.com/gold-ira-vs-physical-gold-in-michigan/) - Discover the key differences between Gold IRA and physical gold in Michigan. - [Gold IRA Vs Physical Gold In Wisconsin](https://www.investmentrarities.com/gold-ira-vs-physical-gold-in-wisconsin/) - Discover the key differences between Gold IRA and physical gold in Wisconsin. - [BEST OF JIM COOK FEBRUARY 4 2026](https://www.investmentrarities.com/best-of-jim-cook-february-4-2026/) - MEMO TO SILVER HOLDERS The gold market has been bouncing around like a tennis ball at Wimbledon. Ted Butler would often say that they will knock down gold to get to silver. I had a hard time believing that, but he was certain it was true. If Ted were still here, he would not at - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-9-2007/) - A Picture Worth A Thousand Words This chart depicts the current condition of the concentrated short position for every applicable physical world commodity, in terms of days world production, from data published by the CFTC. (Chart courtesy of sharelynx.net) I know of no legitimate economic reason why silver would have such - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-8-2007/) - A CLEAR PARALLEL (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) This past week, Barrick Gold reported its financial results for the first quarter of 2007. Since I have written several articles on them - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-29-2009/) - The Senate Report (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) On June 24, the US Senate Permanent Subcommittee on Investigations issued a 247-page report entitled, “Excessive Speculation in the Wheat Market.” The press - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-19-2006/) - Dialing 911 Perhaps one of life’s greatest pleasures and passages occurs when children teach their parents to look at something in a different perspective. I experienced this event, just before Father’s Day no less, when my son Ross shared with me a thought of his. 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[THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-april-16-2021/) - Read Theodore Butler’s April 2021 silver insights, discussing market structure and long-term considerations for investors aiming to purchase silver coins. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-december-1-2020/) - Review Theodore Butler’s December 2020 silver commentary, addressing price behavior and supply dynamics relevant to those planning to buy silver bars. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-march-17-2023/) - Explore Theodore Butler’s March 2023 silver analysis, offering clarity on market developments for investors considering gold IRA companies. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-august-15-2018/) - Read Theodore Butler’s August 2018 silver market insights, focusing on price trends and fundamentals important to finding the best place to buy silver. - 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[THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-november-20-2018/) - Discover Theodore Butler’s November 2018 silver analysis, examining market positioning and trends important to those seeking to buy silver coins wisely. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-january-30-2024/) - Explore Theodore Butler’s January 2024 silver market update, delivering timely insights for investors balancing precious metals and gold IRA companies. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-october-14-2019/) - Read Theodore Butler’s October 2019 silver commentary, offering in-depth market analysis for investors evaluating the best place to buy gold alongside silver. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-january-29-2021/) - Access Theodore Butler’s January 2021 silver insights, discussing market structure and long-term outlook relevant to investors planning to purchase silver coins. - 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[BEST OF JIM COOK JANUARY 7 2026](https://www.investmentrarities.com/best-of-jim-cook-january-7-2026/) - jpm Ted Butler often said to me that JPMorgan was the biggest factor in the silver market. Ted claimed they were responsible for every significant change in silver. We know today, they likely hold more silver than any other entity. When the price crashes, they become the chief suspect. But why would they knock the - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-june-6-2019-3/) - This Jim Cook analysis highlights key 2019 market developments and what they mean for investors seeking the best place to buy gold. - [Best of Jim Cook](https://www.investmentrarities.com/best-jim-cook-november-6-2008/) - Jim Cook analyzes the 2008 financial crisis, market volatility, and why many investors turned to precious metals to buy silver coins. - [Best of Jim Cook](https://www.investmentrarities.com/best-jim-cook-march-14-2006/) - Explore Jim Cook’s 2006 financial insights on economic cycles, inflation risks, and perspectives shared by leading gold investment companies. - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-august-2-2019-2/) - A featured Jim Cook market view from August 2019, covering global uncertainty and factors influencing the best place to buy silver. - [Best of Jim Cook](https://www.investmentrarities.com/best-jim-cook-march-21-2008/) - Jim Cook’s March 2008 market analysis highlights pre-crisis warning signs and investor strategies involving gold IRA companies. - [Best of Jim Cook](https://www.investmentrarities.com/best-jim-cook-february-29-2008/) - Explore Jim Cook’s February 2008 economic insights, focusing on instability, inflation risks, and investing in silver as protection. - [Best of Jim Cook](https://www.investmentrarities.com/best-of-jim-cook-august-19-2017/) - Jim Cook’s 2017 investment insights examine market confidence, precious metals demand, and long-term strategies for investing in silver. - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-june-9-2020-2/) - Review Jim Cook’s June 2020 commentary on economic uncertainty, stimulus impacts, and guidance for those looking to purchase gold coins. - [Best of Jim Cook](https://www.investmentrarities.com/best-jim-cook-may-29-2017/) - Jim Cook shares his May 2017 market perspective, discussing geopolitical risks and opportunities to diversify portfolios with buy silver bars. - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-august-22-2023/) - Discover Jim Cook’s latest market insights from August 2023, covering inflation concerns and guidance from trusted gold IRA companies. - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-june-22-2020-3/) - Explore Jim Cook’s expert market commentary from June 2020, offering insights for investors evaluating gold trends and the best place to buy gold. - [Best of Jim Cook](https://www.investmentrarities.com/best-jim-cook-may-6-2003/) - Read Jim Cook’s May 2003 market insights, highlighting economic conditions and long-term strategies for those investing in silver and precious metals. - [Best of Jim Cook](https://www.investmentrarities.com/best-jim-cook-december-17-2012/) - Jim Cook shares investment commentary from December 2012, covering market risks, metals outlook, and guidance for gold investment companies. - [Best of Jim Cook](https://www.investmentrarities.com/best-jim-cook-april-20-2011/) - Review Jim Cook’s April 2011 market analysis, examining economic uncertainty and considerations for investors looking to buy gold coins. - [Best of Jim Cook](https://www.investmentrarities.com/best-jim-cook-may-11-2005/) - Jim Cook’s financial commentary from May 2005 explores market forces, inflation trends, and insights relevant to gold IRA companies. - [Best of Jim Cook](https://www.investmentrarities.com/best-jim-cook-june-17-2009/) - Gain Jim Cook’s June 2009 market perspective, focusing on recovery signals and precious metals demand, including buy silver bars strategies. - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-october-30-2019/) - A curated Jim Cook insight from October 2019, discussing economic pressures and investor interest in the best place to buy silver. - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-june-6-2019-4/) - Read Jim Cook’s June 2019 commentary exploring market trends, investor sentiment, and insights for those seeking the best place to buy gold. - [Best of Jim Cook](https://www.investmentrarities.com/best-jim-cook-march-5-2013/) - Jim Cook’s March 2013 economic commentary analyzes monetary policy impacts and considerations for those planning to purchase silver coins. - [Best of Jim Cook](https://www.investmentrarities.com/best-jim-cook-june-1-2015/) - Explore Jim Cook’s June 2015 market outlook, addressing global trends and precious metals positioning, including investing in silver. - [Gold IRA Company In Florida](https://www.investmentrarities.com/gold-ira-company-in-florida/) - Discover the top Gold IRA companies in Florida offering secure, IRS-approved gold investments. Learn how to diversify your retirement portfolio today!. - [Gold IRA Company In Minnesota](https://www.investmentrarities.com/gold-ira-company-in-minnesota/) - Discover the top Gold IRA companies in Minnesota and learn how to secure your retirement with expert-backed gold investments. Start building wealth today!. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-16-2009/) - Making The Case (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) In trying to explain the ongoing silver (and gold) manipulation, I normally rely upon a straight text approach, using words to convey my - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-12-2006/) - Silver Default Looming? (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) In last week’s article, “Proving the Silver Manipulation Again,” I highlighted the growing and extremely large concentrated position of the largest short traders - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-13-2009/) - The Game Changer? (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Every once in a great while, something big comes along to upset the status quo. Sometimes the change is long overdue and welcome. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-16-2008/) - FLIGHT TO SAFETY FIRST (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) We live in perilous financial times. If you are not alarmed with the flow of financial events, then you are just not - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-august-22-2008/) - The Smoking Gun (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) For years, the data contained in the weekly Commitment of Traders Report (COT), issued by the CFTC, have indicated that several large COMEX - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-17-2007/) - THE DAY OF RECKONING (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) In keeping with a recent theme of publicly responding to reader e-mails, I’d like to address the topic that garners more questions - [BEST OF JIM COOK DECEMBER 2 2025](https://www.investmentrarities.com/best-of-jim-cook-december-2-2025/) - to sell or not to sell I received a letter recently from a long-time client who reminded me that I promised to tell him and others when I sold my silver. Back in 1980, I sold my silver for almost $50 an ounce. Over the next 30 years, I managed to buy another quantity. 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[Gold IRA Vs Physical Gold In Pennsylvania](https://www.investmentrarities.com/gold-ira-vs-physical-gold-in-pennsylvania/) - Discover the key differences between Gold IRA and physical gold in Pennsylvania. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-august-22-2023/) - Theodore Butler discusses a potential silver market shift driven by a Fed rate-cutting cycle and sticky inflation. 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Is the bull run over, or is this a buying opportunity? - [THEODORE BUTLER SILVER ARCHIVES MAY 28 2024](https://www.investmentrarities.com/theodore-butler-silver-archives-may-28-2024/) - the silver secret Two of the oldest commodities known to man, gold and silver, share a history dating back thousands of years. The role of gold has changed little through the passage of time. The same cannot be said for silver. In fact, it is the remarkable transformation in the usage of silver that has - [THEODORE BUTLER SILVER ARCHIVES MARCH 20 2024](https://www.investmentrarities.com/theodore-butler-silver-archives-march-20-2024/) - SILVER CONTRARIAN Physical conditions in silver, appear white-hot bullish. New silver import data from India indicates more than 70 million ounces were imported into that country in February. This is a number so large it raises questions about why silver didn’t rally more. 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Churchill wrote about - [BEST OF JIM COOK OCTOBER 15 2025](https://www.investmentrarities.com/best-of-jim-cook-october-15-2025/) - INTERVIEW WITH MY FRIEND DAVE My friend Dave has been an ardent gold lover for over 40 years. He stays abreast of any and all information about precious metals, and I consider him to be an expert. He owns a large amount of gold, most of which he purchased under $300 an ounce. We caught - [BEST OF JIM COOK SEPTEMBER 18 2025](https://www.investmentrarities.com/best-of-jim-cook-september-18-2025/) - jIM COOK INTERVIEWS ED STEER Ed Steer is one of the foremost silver and gold analysts in the country. He publishes a newsletter that closely follows the price movements of precious metals in the futures market. 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For investors seeking lasting value, his perspective aligns with the enduring strength of capitalism and the opportunities in investing in silver. - [Best of Jim Cook](https://www.investmentrarities.com/best-jim-cook-april-19-2004/) - James Cook highlights Ted Butler’s foresight in predicting silver market shifts and the risks tied to big short positions. His insights reveal why investing in silver remains a powerful strategy, offering long-term opportunities even amid volatility and market manipulation. - [Best of Jim Cook](https://www.investmentrarities.com/best-jim-cook-april-18-2006/) - Jim Cook’s “Sizzling Silver” explores Ted Butler’s insights on short positions, ETFs, and rising global demand. With industrial use, investor buying, and limited supply, silver remains a powerful opportunity. 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In silver, that price - [BEST OF JIM COOK JANUARY 3 2025](https://www.investmentrarities.com/best-of-jim-cook-january-3-2025/) - JIM COOK INTERVIEW WITH JOSHUA BINGHAM - CEO OF SILVERWARS Cook: How did your interest in silver begin?Bingham: My father was the inspiration. He had brought to my attention an interesting fact about the Manhattan Project, that it required a lot of silver to enrich the uranium. This piqued my curiosity and opened the deepest - [BEST OF JIM COOK DECEMBER 10 2024](https://www.investmentrarities.com/best-of-jim-cook-december-10-2024/) - still an opportunity It seems lately, the more bullish the case for silver, the less interest comes from investors. Actual purchases of silver bars and coins are in the doldrums and not much is written about silver to ratchet up interest and enthusiasm. The price explosion predicted by a number of analysts hasn’t occurred as - [BEST OF JIM COOK DECEMBER 10 2024 2](https://www.investmentrarities.com/best-of-jim-cook-december-10-2024-2/) - OLD GOLD Certain rare gold collectors’ coins are selling for prices close to their bullion value. That makes them a bargain when compared to their historic price levels. These 100-year-old U.S. gold coins are encased in plastic and have the established grade of MS62. They have never been in circulation and are in pristine condition. - [BEST OF JIM COOK NOVEMBER 19 2024](https://www.investmentrarities.com/best-of-jim-cook-november-19-2024/) - sand hurricane My winter home in Boca Grande, Florida took another two hits from hurricanes Helene and Milton. Two years ago, hurricane Ian inflicted terrible damage. My house had to be rebuilt. Now, Helene left a foot of water in our lower level only to be followed by Milton and 2 feet of water. That - [BEST OF JIM COOK OCTOBER 9 2024 2](https://www.investmentrarities.com/best-of-jim-cook-october-9-2024-2/) - HURRICANES Recently my wife twisted my arm until I agreed to go on a cruise with her from Montreal to Boston. Midway through the cruise, we began to hear reports of a hurricane named Helene approaching Florida. That made us apprehensive because we suffered great damage from hurricane Ian to our winter home in southwest - [BEST OF JIM COOK OCTOBER 9 2024](https://www.investmentrarities.com/best-of-jim-cook-october-9-2024/) - STREET RACING The breakdown of law and order in my city astonishes me. The Minneapolis I grew up in had low crime, law-abiding citizens and safe streets. No more. All types of crime are on the rise. One kind of criminal mischief personifies the collapse of civil society. It’s known as street racing. Speeding vehicles - [BEST OF JIM COOK SEPTEMBER 19 2024](https://www.investmentrarities.com/best-of-jim-cook-september-19-2024/) - SILVER SUPERLATIVES My company made a lot of money in the 1980 price blow-off in silver and gold. Consequently, I thought I knew a lot about silver. It turned out that I had only a superficial knowledge, and that fact was driven home when I met Ted Butler. He knew everything there was to know - [BEST OF JIM COOK SEPTEMBER 9 2024](https://www.investmentrarities.com/best-of-jim-cook-september-9-2024/) - IS SILVER WHY WARREN BUFFET DUMPED BILLIONS WORTH OF BANK OF AMERICA STOCKS? ZeroHedge reports, “Market observers have been puzzled by Warren Buffett’s Berkshire Hathaway’s abrupt selling of billions of dollars of its long-held stake in Bank of America since mid-July. Buffett’s stock dumps could be driven by looming recession threats and the Federal Reserve’s - [BEST OF JIM COOK AUGUST 20 2024](https://www.investmentrarities.com/best-of-jim-cook-august-20-2024/) - rocky road ahead Most of my friends believe that America has changed and not for the better in their lifetimes. They say we won’t be here to see it, but the end of our way of life is coming. They think that the American empire is going to pass from the scene. The Roman Empire - [BEST OF JIM COOK JULY 30 2024 2](https://www.investmentrarities.com/best-of-jim-cook-july-30-2024-2/) - SILVER IS STILL SOUND When silver would drop the way it just did in late July, Ted Butler would be angry. When we talked, he would curse JPMorgan and the big banks and trading houses that he thought were crashing the price and covering their short positions. Eventually he would get around to talking about - [BEST OF JIM COOK JULY 30 2024 1](https://www.investmentrarities.com/best-of-jim-cook-july-30-2024-1/) - bambino 100 years ago in 1924, Babe Ruth was a baseball superstar. He was also the highest paid athlete in history. That year he made $30,000. The following year in 1925, he was celebrated for earning the astronomical sum of $50,000. Today, in 2024, exactly 100 years later, great baseball players make $30 million a - [BEST OF JIM COOK JULY 11 2024](https://www.investmentrarities.com/best-of-jim-cook-july-11-2024/) - TED BUTLER'S LEGACY One thing about Ted Butler, he was a straight shooter. He was careful and cautious about the data he presented. He spent a lot of time studying the silver market and he seemed to know everything about it. Invariably, he came up with new ideas and analysis that quickly became part of - [BEST OF JIM COOK JUNE 20 2024 2](https://www.investmentrarities.com/best-of-jim-cook-june-20-2024-2/) - TED BUTLER'S INFLUENCE I was heavily influenced by Ted Butler’s deep insights into the silver market. It can be seen in what I have written about silver. Here is a recent example: “The fact a few large banks have used unsavory tactics to hold the price of this important mineral down has created some powerfully - [BEST OF JIM COOK JUNE 20 2024](https://www.investmentrarities.com/best-of-jim-cook-june-20-2024/) - TED BUTLER (1947-2024) I knew Ted Butler was sick. A month ago, he had called me to say he was going to see his doctor for a checkup. A few days later, he told me he was going into the hospital for more tests. Then he called to say he had been diagnosed with pancreatic - [BEST OF JIM COOK MAY 28 2024 2](https://www.investmentrarities.com/best-of-jim-cook-may-28-2024-2/) - 1980 I’ve been promoting the sale of silver for over 50 years. When I met Ted Butler, the world’s foremost silver analyst, I’d been selling silver for over 25 years, and I was impressed with his knowledge. I might have drifted into another occupation if it had not been for the 1979-1980 silver price explosion. - [BEST OF JIM COOK MAY 28 2024 1](https://www.investmentrarities.com/best-of-jim-cook-may-28-2024-1/) - going woke My friend Dave sent me an email expressing rage over the fact that a prominent college in California had abolished the merit system. Grades no longer mattered, and students could graduate even if they had failing marks. Dave said he didn’t ever want to ever get a doctor who graduated from that woke - [BEST OF JIM COOK MAY 15 2024](https://www.investmentrarities.com/best-of-jim-cook-may-15-2024/) - PROFIT AND PROTECTION The economy gives every impression that it’s going into a recession. That’s in spite of massive government spending. Only more of the same money and credit expansion can keep a downturn at bay, but that is highly inflationary. Confidence in the dollar has for the first time slipped a bit. That’s powered - [BEST OF JIM COOK APRIL 30 2024 2](https://www.investmentrarities.com/best-of-jim-cook-april-30-2024-2/) - WOOD CARVINGS On Tuesday, April 22nd, my wife and I flew to Chicago for the Guyette and Deeter duck decoy auction. This event is held in conjunction with the North American Decoy Collectors Association show at the Westin Chicago Lombard Hotel. Decoys are considered to be a branch of American folk art, the rarest of - [BEST OF JIM COOK APRIL 30 2024](https://www.investmentrarities.com/best-of-jim-cook-april-30-2024/) - UP, UP AND AWAY The Uber driver recently taking me to my hotel in Chicago overheard my conversation with Ted Butler about silver. He enthusiastically explained that he owned some silver. I told him about the record amount of silver being imported into India. (I thought he might be from India.) He asked me some - [BEST OF JIM COOK APRIL 16 2024](https://www.investmentrarities.com/best-of-jim-cook-april-16-2024/) - CRIME WAVE Our newspaper reports that a woman who embezzled $3.75 million from her employer will face no jail time, only probation. In other words, you can steal almost 4 million dollars in Minnesota and go unpunished. That no doubt explains why crime is setting records. For example, there were over a million car thefts - [BEST OF JIM COOK APRIL 3, 2024](https://www.investmentrarities.com/best-of-jim-cook-april-3-2024/) - BIG SILVER BUYER We have a customer who has bought many millions of dollars of silver from us. In my estimation, Tom is a knowledgeable and shrewd investor. At one time he was a successful stock trader on Wall Street. I talk with him frequently to get his opinion on silver matters. He told me, - [BEST OF JIM COOK MARCH 20 2024](https://www.investmentrarities.com/best-of-jim-cook-march-20-2024/) - RESERVATIONS Apparently, it’s not enough that indigenous people in Minnesota have a tremendously lucrative hotel and casino complex in a Minneapolis suburb. The push is on to give these Native Americans some large swaths of land in the state. A 1,200-acre state park was recently turned over to a reservation in western Minnesota. The push - [BEST OF JIM COOK FEBRUARY 29 2024 1](https://www.investmentrarities.com/best-of-jim-cook-february-29-2024-1/) - SOMTHING TO WORRY ABOUT A month ago, my wife told me she had made an appointment for us at the dermatologist. I told her I didn’t want to go; it was a waste of my time. I’d been to a dermatologist a year ago, and she had treated the sun damage on my face and - [BEST OF JIM COOK FEBRUARY 29 2024 2](https://www.investmentrarities.com/best-of-jim-cook-february-29-2024-2/) - SILVER AWAKENING If silver returned to its historic ratio to gold of 15 to 1, silver would be priced at $135 an ounce. Today, the ratio is around 80 to 1. It takes 80 ounces of silver to buy 1 ounce of gold. Actually, it should be going the other way to 5 to 1 - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-february-15-2024-2/) - BULLISH EXTREMES If you were to talk with silver analyst Ted Butler every day as I do, you would now be extremely bullish on silver. Every indicator he follows is signaling that a price hike is imminent. We will have to see, but he makes a convincing case, and he knows a lot about silver - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-february-15-2024-1/) - ACTIVISTS I’ve become sick of the term activist. Our daily newspaper has endless articles about activists. Activists shut down the freeway; activists closed down the bridge over the river; activists set up a homeless encampment in a city park. We have a new city council in Minneapolis and many of them are life-long activists. The - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-february-15-2024/) - NO REPLY There has been no reply from the CFTC for 13 weeks to a question I posed through my congressman’s office about double-counting of silver inventories. However, two days ago my congressman’s office told me that the agency intends to respond although the office couldn’t say when. As a result, I still expect a - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-january-30-2024-2-2/) - SILVER HISTORY The current era in silver reminds me of 1978-79, the period just before the enormous price lift-off in silver which took it to $50 an ounce. When I started selling silver in the early 1970s, silver was $2 an ounce. We didn’t have much to sell in the way of silver bars. Governments - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-january-30-2024-2/) - SILVER HISTORY The current era in silver reminds me of 1978-79, the period just before the enormous price lift-off in silver which took it to $50 an ounce. When I started selling silver in the early 1970s, silver was $2 an ounce. We didn’t have much to sell in the way of silver bars. Governments - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-january-30-2024-1/) - COLLECTIVISTS When I was a young man, a professor at the University of Minnesota made the news because he was a socialist. He was widely considered to be a nut. Little did we know how widespread the acceptance of socialism would become. Believe it or not, the Minneapolis city council now has a majority of - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-january-17-2024/) - IN THE AIR Considering that JPMorgan has just come off a three-year deferred criminal prosecution agreement with the Justice Department for price manipulation (spoofing) in silver, the customers that JPM is accepting delivery for on the Dec. and Jan. contracts would most likely be users as opposed to speculators. That’s because it would be much - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-january-3-2024-2/) - RIGHT OR WRONG When I started selling gold and silver in 1972, I was heavily influenced by the writing of the economist Ludwig von Mises. He had written a number of books advocating the market economy, limited government, sound money and low taxes. Mises was a ranking member of what was known as the Austrian - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-january-3-2024-1/) - DOUBLE-COUNTING In his recent newsletter, silver analyst Ted Butler complained about the lack of response from the Commodities Futures Trading Commission (CFTC) to an important question from him which he sent to the regulators through the office of his congressman. He writes, “Still no response at all from the CFTC to my recent inquiry of - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-january-3-2024/) - HEATING UP At year’s end, silver was more undervalued relative to gold than at any year in history. I’d hate to think about how much more undervalued silver could get if it weren’t already in a widely documented physical shortage, the first ever such shortage. The only explanation for the greatest price disparity in history - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-december-20-2023-2/) - FOR THE BIRDS I’m a bird watcher, so I became aware of the American Ornithological Society’s plan to change the names of birds that were named after white males. Here’s a portion of their press release: FOR IMMEDIATE RELEASE Contact: media@americanornithology.org CHICAGO (November 1, 2023) – Today the American Ornithological Society (AOS) announced that in - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-december-20-2023/) - DAVE AGAIN I’ve written about my friend Dave before. He is a smart guy, but tends to have extreme views. Lately, he’s been pounding on me to accept his argument about the inevitability of a collapsing dollar. I’ve been listening to gloomy forecasts for 50 years and I’ve become somewhat skeptical of them. Remember Y2K? - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-december-7-2023/) - MORE EVIDENCE OF A SILVER SHORTAGE Recently, the Silver Institute updated its annual review on silver that it originally published in April. The report indicated a reduction in total supply (mine production plus recycling) and an increase in industrial demand. The new report indicates total silver supply for 2023 as being 23 million ounces less - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-november-14-2023/) - LOOKING AHEAD Do you ever wonder what will happen to America in the future? Will we prosper or will we fail? Technology may save us for a while and perhaps for good. Unfortunately, some of our present trends threaten to do us in. Our welfare system produces growing numbers of criminals who threaten our safety. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-november-6-2023/) - TIGHTENING FURTHER Last week’s new short position report indicated a moderate increase in the short position on SLV, the big silver ETF, of 2.4 million shares to just under 19.8 million shares (18 million ounces). This increase came at a time of rising prices (as did a similar rise in the shorted shares in GLD, - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-october-19-2023-2/) - LIBERAL POISON The government has programs and requirements that give money, or business contracts to minorities. These preferences supposedly help the recipient. But they do not. They simply relieve these people from learning the necessary lessons required to climb to the top and succeed on merit. Those who oppose these government preferences are thought to - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-october-19-2023-1/) - IN THE GROUND Just outside Tonopah, Nevada, are two of the largest silver deposits in North America. The companies that own them continue drilling in search of more silver, but they never mine them. The low price of silver means they can’t make any money extracting the ore. It’s expensive to build a mine. It - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-october-5-2023/) - SILVER’S TOO CHEAP When we see price plunges in silver from historic low levels like now, the price invariably bounces back. It’s happened time and again. Silver Analyst Ted Butler insists it’s bullish beyond measure. The big shorts are buying back their short positions because they know there is a silver shortage coming. As frustrating - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-october-5-2023/) - SHORTAGE, INDEED This week, a subscriber asked me to summarize the facts supporting my claim that silver is in a pronounced wholesale physical shortage. For one thing, there was the persistent, large physical turnover of silver in the COMEX warehouses for more than 12 years. This movement has now come to include the silver ETFs. - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-september-20-2023/) - CRACK-UP BOOM Years ago, I first read the term “crack-up boom” in an essay by the brilliant Austrian School economist Ludwig von Mises. The crack-up boom happens when inflation becomes so bad in a country that the populace will no longer hold onto the currency. They will spend it as fast as they get it - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-september-20-2023/) - BONFIRE OF THE SILVER SHORTS After 40 years of silver price manipulation and suppression on the COMEX, the physical market has experienced a lack of production growth and enhanced demand brought about by too-low silver prices. According to the immutable law of supply and demand, silver is now in a deepening physical shortage in which - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-september-6-2023/) - CRIME NEXT DOOR I live in a gated community and when someone broke into my next-door neighbor’s house last week, it was cause for alarm. The thieves smashed through a sliding glass patio door and ransacked the house. My neighbor who is a widower wasn’t home. He was playing cards with friends at 11 a.m. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-august-9-2023/) - TWO NEW SILVER WHALES Data recently published in the Commitments of Traders (COT) reports indicates the emergence of a big managed money trader on the short side. This entity appears to be holding a net short position of roughly 10,000 contracts (50 million ounces) in COMEX silver futures. There’s no way of knowing whether this - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-august-9-2023-2/) - MY FRIEND My friend Dave is a real “Gloomy Gus.” He believes the future for America is bleak. He claims that within a few decades, the entire country will be worse than San Francisco. Dave argues that whatever you subsidize, you get more of. That means homelessness and drug addiction will be everywhere. He says - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-august-9-2023/) - REPARATIONS Here in Minnesota, the legislature recently passed a law legalizing marijuana. Apparently, certain of our population make extensive use of the weed, and they have experienced a high incidence of arrest and convictions for marijuana crimes. That will end with the new law. All prior misdemeanors will be expunged from the record and a - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-july-16-2023/) - CODE RED As a result of data released over the past week (mostly, the last 3 days), it seems clear to me that we may be facing a clear market emergency in COMEX silver futures. I am trying hard not to be alarmist, but what I see alarms the heck out of me – to - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-july-13-2023-2/) - BE CAREFUL Another coin dealer was shut down by the CFTC last month. First State Depository and Argent Asset Group were ordered by federal court to pay $146 million for fraud related to a precious metals scheme. They promised their customers they would issue them monthly lease payments in exchange for the use of their - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-july-13-2023/) - SILVER DEFICIT A client called me and complained that silver had not gone up. I appreciated his frustration, and I apologized for this maddening performance. I own quite a bit of silver and have high hopes that the price will skyrocket. More important is the outcome for the thousands of people who bought silver based - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-july-13-2023/) - IF NOT NOW, WHEN? Perhaps the first thing I discovered in 1985, when silver was trading in the $5/oz range, is that I knew of no one that was interested in shorting silver. Sure, there were plenty of folks who made and lost fortunes in silver on the Hunt-inspired run to $50 into 1980 and - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-july-1-2023-1/) - TIGHT SPOT My mother and father used to tell me about the “dirty ‘30s.” That was the decade of the Great Depression from 1930-1940. Times were tough and people suffered great financial loss. My grandfather on my mother’s side was wiped out when the brokerage firm that held his stock portfolio went bankrupt. People today - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-june-15-2023-3/) - IS THIS THE END OF THE SILVER SHENANIGANS? Silver analyst Ted Butler is suggesting that a profound change in the silver market is likely at hand. The four big banks and brokers who manipulated the silver market for two decades don’t appear to be continuing this nefarious strategy. If they stop this collusive behavior on - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-june-15-2023-2/) - SCAMMERS I was sitting by my computer one recent morning when the phone rang. It was my grandson, who said he was calling me from jail. He had rear-ended another car and injured a young girl. Both cars were a total loss. He had called the father of one of his high school teammates who - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-june-15-2023-1/) - FATAL CRASH I recently wrote about a man with the worst driving record imaginable. In the past few years, he has been arrested 5 times for driving without a license, once while going 104 mph in a 50 mph zone. He has been arrested for auto theft and fleeing police in a vehicle. He is - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-june-15-2023/) - MISSION ACCOMPLISHED Prepare to be shocked. A set of easily verifiable facts point to a stunning conclusion. The Federal Commodities regulator the CFTC has likely told the 4 big shorts to end their shorting in silver. Consequently, we are set to rocket higher in silver prices. Two years ago, I and others wrote to the - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-june-2-2023-3/) - WHAT’S AHEAD We’re yet to experience the difficult economic times that inevitably follow the implementation of policies to fight inflation. A sharp downturn in money supply growth along with rising interest rates will curb economic activity and raise unemployment. If a slowdown begins to look dangerous the politicians will howl, and the monetary authorities will - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-june-2-2023-2/) - THE NUTTY LEFT Here are newspaper article headlines for one recent day in Minneapolis and St. Paul: 103-Year Term for Man Who Killed Four in St. Paul Girl, 15, Dies After Shootout in North Minneapolis Death Of Woman Ruled Homicide Police ID Teen Killed at Market Car Info Sought in Fatal Hit and Run Mom - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-june-2-2023-1/) - CLUELESS Wouldn’t you think that after spending trillions of dollars in the past 60 years to alleviate poverty and improve behavior that someone on the left would say this isn’t working? Passing out free money only seems to encourage homelessness, crime and addiction. In Minnesota, the progressives never question the efficacy of these vast outlays. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-june-2-2023/) - $50 AND BEYOND The explanation for why gold and silver prices fell recently is deliberate and collusive paper futures contract positioning on the COMEX. While this is certainly nothing new for subscribers, it is still mostly outside the comprehension of a wide swath of precious metals observers and commentators (and regulators). To be sure, the - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-may-12-2023-2/) - TOUGHEN UP When I hear the socialists claiming that “people are living from paycheck to paycheck,” I think, so what? I’ve lived paycheck to paycheck including the first twenty years of marriage. When I started two businesses I went for months without any paycheck. At times, in life you have to struggle and overcome financial - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-may-12-2023-1/) - LEFT TURN The future of mining in South American countries looks bleak. Leftist governments have won control of important mining jurisdictions. This includes Chile, Peru, Argentina and the number one silver producer Mexico. Countries like Bolivia, Venezuela and Ecuador are run by communists. A few years ago, Venezuela expropriated its biggest and most promising gold - [THEODORE BUTLER SILVER ARCHICVES](https://www.investmentrarities.com/theodore-butler-silver-archicves-may-1-2023/) - THE SILVER INSTITUTE The annual world silver survey from the Silver Institute reports, “No growth in the total supply (mining plus recycling) of silver and sharply increased demand growth of 18%.” The silver deficit of 237 million ounces is the highest in modern times. Nothing could be more bullish than using up more silver than - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-april-18-2023/) - MONA’S BROADSIDE The syndicated columnist and best-selling author Mona Charen wrote a book published in 2004 titled, Do-Gooders, How Liberals Hurt Those They Claim to Help. At the time, this book resonated with me because I had previously written about the damages caused by free money and the dole. Here are a few paragraphs from - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-april-18-2023-2/) - ALTERNATIVE ASSETS About the best thing you could have owned in these inflationary times has been sports memorabilia. Five years ago, I sold my Babe Ruth home-run bat for $600,000. One sold last month for $1,850,000. I also sold my Mickey Mantle rookie card from a Topps bubble gum package made in 1959. My example - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-april-3-2023/) - MORE BLACK SWANS In looking over gloomy economic forecasts on the internet, within a few minutes I found the following: Everyone is going to get wiped out. The coming financial devastation. Collapse of the world economy. The end is near. I’ve been reading these extreme forecasts for 50 years and things have never been that - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-april-3-2023/) - GOING UP Continued reductions in COMEX warehouse silver inventories, along with reductions in the holdings of the SLV and other silver ETFs add to the conclusion that silver demand is exceeding silver supply. When the demand for a commodity exceeds supply, prices always rise. A big redemption in the SLV appears to be due to - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-march-17-2023/) - PROTECTION At the beginning of last week when all eyes were on SVB, I sent the following note to our broker staff: “Our clients should be concerned about the possibility of additional bank failures. The huge liability stemming from vacant office buildings still threatens the banking system. Can the Fed bail out every bank troubled - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-march-6-2023/) - RECOVERY I’m moving back into my hurricane damaged winter residence this week. The house was stripped down to the studs and treated for black mold. New sheetrock, floors and ceilings were necessary. The final coat of paint and a new roof will be added this summer. Everything should be finished by late summer just in - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-march-6-2023/) - ON THE EDGE It appears that we are on the threshold of being able to buy silver at prices that will never be lower. Silver prices are set to embark on an upside price journey that will reward those who own it in life-enhancing ways. It only seems logical to buy what is arguably the - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-february-20-2023/) - FREE MONEY Every day the U.S. government seems to have a new proposal to give people money that they didn’t earn. Our state governments and our cities are just as bad. They too have endless proposals to give people money. A wise man once said, “What you subsidize, you get more of.” Trying to eliminate - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-february-20-2023/) - INTERVIEW WITH TED BUTLER Cook: Despite the recent drop in silver, you seem to be more bullish than ever. Why is that? Butler: We have the tightest physical wholesale market conditions than ever before. The 40-year price suppression on the COMEX has resulted in a shortage of silver the likes of which the world has - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-february-2-2023/) - COLD, CRIME AND COLLECTIVISM The governor of Minnesota wants to send checks for $1,000 to 2.5 million households. If you make less than $75,000 you qualify. Couples earning less than $150,000 get $2,000. The governor can propose this because the state has a 17-billion-dollar surplus this year. Prudent management of the state’s financial affairs would - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-january-18-2023-2/) - UNFINISHED BUSINESS Over the past year or two, I discovered that Bank of America had built up an absolutely massive short derivatives position in silver in the over-the-counter market (not COMEX) of one billion ounces or more. The position was the result of a silver lease transaction with JPMorgan lending the silver to BofA. JPM - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives/) - INTERVIEW Q: Lately you’ve been suggesting the silver manipulation you write so much about is on its last legs. Why? A: It has turned into one of the longest manipulations in history and since all manipulations must end, it is going to end soon. That’s largely a function of how blatant it has become. So - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-february-2-2023/) - BIG DOINGS IN SLV On the 23rd and 24th of January, some 20.5 million ounces of silver were deposited into the I-Shares Silver Trust, SLV, and shares outstanding have increased by 23.2 million (the difference being due to the cumulative management fee of 0.5% per annum). To say that the large increase in physical silver - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-january-18-2023/) - LAWBREAKERS After the civil unrest in Minneapolis, police began to dramatically reduce traffic stops. They slowed down writing tickets for expired license plates and other minor offenses. Just as you would expect a lot of people are now neglecting to renew their license tabs. Drivers who obey the law and renew their plates are beginning - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-january-4-2023/) - A NEEDLESS LOSS Liberal cities are failing to protect the safety of their citizens. Recently, in Minneapolis, a 25-year-old man high on drugs and alcohol plowed into an auto killing a 23-year-old physician’s assistant. In the past 8 months, he has been arrested 5 times for driving without a license, once for stealing a car, - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-december-21-2022/) - BREAKING EVEN Last summer when the Federal Reserve started raising interest rates to fight inflation, I decided to sell my collection of concert posters. My fear was that high value collectibles might crash along with everything else. I’ve never been much of a conventional investor. When I had some money, I bought coins, collectors items - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-december-21-2022/) - FURTHER TIGHTENING In the past week, Ted Butler uncovered two new and potentially bullish circumstances relating to silver. I’ve monitored the daily movement and total levels of the COMEX silver warehouse inventories for more than 35 years. A remarkable physical turnover of metal in and out from the COMEX silver warehouses continues and seems to - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-december-5-2022/) - MISREPORTING The newspaper articles and editorials coming out of the left-wing press make it sound like conservatives are racist bigots. The leftist media tries to make the case that a large contingent on the right are white supremacists or even neo-Nazis. In reality, most Republicans have never heard of the Proud Boys or any other - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-november-25-2022/) - BLAMEWORTHY Frankly, I’m happy that Joe Biden is our president for the next two years. A lot of bad things are likely to happen with the economy and Biden and the Dems will get the blame. That should ensure Democrat losses in the 2024 elections. So far, the outbreak of inflation and the Federal Reserve’s - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-november-25-2022/) - IN DEMAND The retail and wholesale markets in silver and gold are hot. Particularly in silver, the retail market is, quite literally, on fire. The fact that premiums exist on virtually all forms of retail silver (along with delivery delays), something never seen this pronounced before, means that the creation of new 1,000-ounce bars is - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-november-9-2022/) - BUTLER’S BOMBSHELL I started talking with silver analyst Ted Butler for the first time in the fall of 2000. It soon became apparent that he knew a lot about silver. Shortly thereafter, we made a deal for him to become a consultant to Investment Rarities and write articles for our newsletter. For the past 22 - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-november-9-2022/) - SUPPLY AND DEMAND For commodities, the paramount issue is always actual supply and demand, with price serving as the balance in a free economic system. Too much supply and not enough demand and prices are expected to fall. Too much demand and not enough supply and prices are expected to rise. Messing with the law - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-october-26-2022/) - FREE MONEY “To do nothing teaches to do ill.” Ancient Proverb No doubt you are familiar with the old saw, “money is the root of all evil.” I always considered that to be bunk. However, if we add the word free, it now makes sense. Free money is the root of all evil. Our major - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-october-26-2022/) - MAKE A DIFFERENCE If you are tired of witnessing silver (and gold) continuing to be manipulated in price, here’s a no-cost action you can take that will only involve a few minutes of your time. There’s nothing to lose and quite a lot of potential good to be had. The Commodity Futures Trading Commission (CFTC) - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-october-17-2022/) - HURRICANE WORRIES Hurricane Ian first came to shore in Florida at Caya Costa, an uninhabited barrier island. Directly to the south are Captiva and Sanibel. To the north is Gasparilla Island and the community of Boca Grande. My wife and I have a winter residence on this island. As of this writing, there is still - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-october-1-2022/) - TERRITORIAL IMPERATIVE I have an affinity for books about the conflict between Russia and Germany during World War II. On a recent visit to the bookstore, I found a new book by a Russian soldier titled, Red Road from Stalingrad. Books authored by Russian infantry men are rare, and even rarer are books written by - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-september-16-2022/) - JIM COOK INTERVIEWS TED BUTLER Cook: One of our clients asked if you are going to be right any time soon? Butler: Yes! I’m making my strongest possible arguments for silver, and let’s not forget that I was right in 2002 when I predicted that silver would go up ten times. Cook: Ok. What - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-september-16-2022/) - JIM COOK INTERVIEWS TED BUTLER Cook: One of our clients asked if you are going to be right any time soon? Butler: Yes! I’m making my strongest possible arguments for silver, and let’s not forget that I was right in 2002 when I predicted that silver would go up ten times. Cook: Ok. What - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-september-2-2022/) - BETTER DEAD THAN RED An uncomfortably hot August day got me to thinking about the blessings of air conditioning. Not too many years ago, homes did not have any relief from the heat. Then an entrepreneur and inventor Willis Carrier developed air conditioning. Nobody pays attention to the reasons we have things like air conditioning. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-august-22-2022/) - WHY SILVER WENT DOWN WHEN IT SHOULD HAVE GONE UP Two weeks ago, it looked to me like silver was about to take off, following months of sharp price declines, yet we experienced the worst selloff in a couple of years. Most puzzling was the cause of the sharp price declines. It didn’t appear to - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-august-5-2022-2/) - DOLLAR DUNCES This country frequently acts like it doesn’t care if the dollar is the world’s reserve currency. Our government keeps spending like there is no tomorrow. That spending contributes to the inflation that erodes the dollar’s purchasing power. If our inflation gets out of control, people around the world may stop using dollars. Our - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-august-5-2022/) - SILVER IS HEAVY In 1977, my company had secured the endorsement of Howard Ruff, whose newsletter The Ruff Times eventually grew to 150,000 subscribers. He also wrote a #1 best-selling book, How to Prosper During the Coming Bad Years. Howard fervently endorsed the ownership of gold and silver. Many of his readers and followers were - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-august-5-2022/) - WHY I’M MORE BULLISH THAN EVER A subscriber asked if I was more bullish on silver than ever. I told him yes, I was. Them, it dawned on me that I may not have properly conveyed my strong feelings that silver may soon explode in price (and drag gold along with it). After nearly 40 - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-july-20-2022/) - THE PRICE OF POPCORN My wife and I went to see the Elvis movie that’s now in theaters. I ordered a small bag of popcorn. It was $9.45. You could have knocked me over with a feather. My wife loved the Elvis movie, I not so much. It covered a lot of ground we already - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-july-6-2022/) - SILVER PRICE EXPLOSION I can’t recall a time when all the stars, planets and moons have been as aligned as they are now for a sudden and shocking revolution in the price of silver. COMEX positioning sets the price of silver and it has turned profoundly bullish. I wholeheartedly believe there has to be a - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-july-6-2022/) - SILVER STILL BECKONS I think it’s safe to say that this newsletter and the articles we condense have been right on the direction of the economy. Our constant forecast of worsening inflation and a slowing economy have been on the mark. We frequently argue that the Federal Reserve is between a rock and a hard - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-june-21-2022/) - VACATION My wife and I are taking 3 of our granddaughters to Washington D.C. this week. I’m hoping there won’t be any demonstrations that disrupt our site seeing. The memorials and monuments elicit a sense of pride in America that’s good for our grandkids to experience. We’re staying at a nice hotel, and we have - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-june-21-2022/) - MISPRICED Silver’s extremely low price over the past few decades has told the world’s investors that the silver supply is ample or even oversupplied. Actually, the supply/demand fundamentals in silver are nowhere near as negative as the low price would suggest. If any market is extremely mispriced, as silver is, then it’s only a matter - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-june-7-2022/) - MERIT Most people in America are not racist. The U.S. pretty much operates on the merit system. That’s the dead opposite of the kind of racism that denies someone a job because of their race. Employers are looking to hire people of all races. They hire on merit and promote on merit. Recently, merit has - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-june-7-2022-2/) - MUCH ON MY MIND Given the still spectacularly bullish market structure that exists in both COMEX gold and silver my recent thoughts have been dominated by what type of price rally we are likely to see, once the moving averages in both gold and silver are penetrated to the upside. Those averages are still $1.50 - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-may-25-2022/) - ECONOMIC PERIL I think it’s safe to assume there is more economic turmoil ahead. The last few weeks appear to be the start of a painful retrenchment that could last indefinitely. Frankly, I don’t think we have the wherewithal and toughness to stop inflation the way Mr. Volcker did in 1980. The Keynesians and leftists - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-may-11-2022/) - LOSE THE LEAST MAKE THE MOST If I had written in 2019 that the entire world would soon be gripped by a dangerous epidemic, Russia would start a war by invading its neighbor and inflation would explode, you would suspect I’d gone off my rocker. My point is that nobody knows exactly what’s in the - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-may-11-2022/) - A PRICE BOTTOM FOR THE AGES? I believe we are in the process of forming a silver price bottom that will endure for years to come. Among my reasons is that silver is dirt cheap. Silver is often thought of as a hedge against inflation, which is now running at its hottest pace in 40 - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-april-20-2022/) - LOOSE MONEY The worst thing you can do to someone is to give them money they didn’t earn. Almost immediately it shrinks their potential. Nevertheless, our government insist on being the principal purveyor of free money. Look at the character deficiencies of those who have been getting the money for the longest time. The more - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-april-6-2022/) - THE INFLATION PROBLEM All the new people coming into our country illegally are getting money from the government. The total must be enormous. The U.S. is doing itself in through reckless federal spending on every imaginable problem. This is why we have inflation. The government has to create new money to pay its bills. Large - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-march-23-2022/) - STILL IN CONTROL The one positive thing about the default in LME nickel is that it serves as a template for what will happen in COMEX silver should the concentrated shorts ever try to buy back short positions on higher prices – something that has never occurred. However, the example in LME nickel woefully understates - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-march-8-2022/) - LIQUIDATE THE KULAKS It’s hard to write or think about anything other than the Ukraine these days. Its history serves to reveal the evils visited upon it by Socialism and Communism. The independent farmers of the Ukraine thwarted Joe Stalin. Thus, he began a policy to liquidate these Kulaks. Stalin’s henchmen murdered whole families on - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-march-8-2022/) - THE MOMENT OF TRUE The beginning of my journey in silver goes back to the original challenge Izzy Friedman issued to me in 1985.That was to explain how silver could remain so cheap in the face of compelling evidence that it should be priced much higher. His was a constant underlying theme – at some - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-february-8-2022/) - WHEN SILVER SIZZLED In late 1978 and throughout 1979, gold and silver saw a dramatic price rise in conjunction with high levels of inflation. In 1979, silver rose from $6.10 an ounce to $49 an ounce. When silver hit $35 an ounce, we started to see people unload small amounts of silver coins, jewelry and - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-january-26-2022-1/) - SILVER So many reasons exist for silver to head higher in price and yet new reasons keep coming. For starters, silver is a crucial metal for many industries. In the last few years, we added green energy to the demand equation. The above ground supply of silver is perilously low and most of what there - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-january-26-2022-2/) - SUBSIDIES The current shortage of workers is likely caused by government subsidy programs like Social Security Disability. That provides close to $1,500 a month. On top of that, there is food stamps, rent subsidies and a great many more programs. For the Democrats, the solution to any problem is to throw more money at it. - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-january-11-2022-2/) - PRECARIOUS POSITIONS The information Ted Butler turned up about Bank of America’s enormous short position is not only bullish, it’s also bizarre. Who would go short silver in the face of today’s low prices? Furthermore, is Bank of America not aware that the thin supply of aboveground silver is tightly held and that investors are - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-january-11-2022-1/) - REDS When you hear the left spewing out their woke nonsense, it makes you fear for the future of our country. Some of these avowed Marxists would abolish the Constitution, redistribute the nation’s wealth and replace capitalism and free markets with government coercion and control. People are still being killed or dying in jails in - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-january-3-2022-3/) - JPMORGAN’S SILVER HOARD Not too many people know that banking giant JPMorgan has accumulated a huge stockpile of silver. Nor do people know that there isn’t a lot of silver above ground that’s available for purchase. They are not aware that the billions of ounces that were once held by the U.S. have been used - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-january-3-2022-2/) - NO SUBSTITUTE My wife mentioned that a friend in her exercise class said that her husband was up all night worrying about a decline in his stocks. My advice to that fellow would to be to put 20% of his portfolio into silver. We’ve tried to make the case that our nation is on a - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-january-3-2022-1/) - HOWARD Back in 1978, I began to get subscription offers in the mail from a guy in California named Howard Ruff. It seemed like every other day I’d get a mailing. He was pro gold and silver, so I decided to give him a call. I got through to him right away and we had - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-january-3-2022/) - OCC STUNNER The new quarterly derivatives report from the Office of the Comptroller of the Currency was released covering Over-the-Counter (OTC) derivatives positions of U.S. banks. The new OCC report shows a stunning reduction in derivatives positions in the precious metals category held by JPMorgan along with a shocking increase in derivative holdings by Bank - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-december-16-2021/) - INFLATION I don’t think there is any example in history of a country creating new money to pay its bills and not suffering ruinous consequences. If that policy continues long enough, it promises disaster. Unfortunately, there may be no other option for the U.S. because the alternative is deflation and the monetary authorities and the - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-december-16-2021/) - SIGNS Something highly unusual is occurring in the silver market. The price of silver seems wildly out of sync with reality. The price is saying, loud and clear, that there is plenty of silver available to the market. However, there are many more signs suggesting just the opposite, that there isn’t enough silver to go - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-december-1-2021/) - CRIME PAYS The one picture that comes into my mind whenever I think about the arson and looting that plagued Minneapolis last year has to do with the police. Under orders from our liberal mayor, the police abandoned the 3rd Precinct station and left it to burn. A convoy of police cars fled from the - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-november-19-2021/) - AWAKENING My wife and I made it back to Florida for the winter just as the hot summer weather in Florida dissipated. My secretary switched my home delivery of the Wall Street Journal and my wife added the Sarasota Herald-Tribune. I was soon put off by the liberal Sarasota paper and remembered that I had - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-november-19-2021/) - NOT AVAILABLE The most fascinating aspect of silver today is how little of it is available for purchase. Of the 2 billion ounces of silver that exist in the form of 1,000 ounce bars, roughly 80% is owned by investors. 1.25 billion ounces is in silver ETFs and 350 million ounces is in the COMEX - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-november-4-2021/) - UNINTENDED CONSEQUENCES The recognized commodities exchanges, long-perceived as bastions of the free market and the embodiment of the law of supply and demand are anything but. In fact, the mechanics of these exchanges subvert the markets working at every turn. All exchanges are run by the insiders who set the rules in accordance with their - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-november-4-2021/) - SILVER BOOK Here is the introduction to my new book Silver – When All is Lost. It will be in print next month. INTRODUCTION Whenever the left wins an election it propels us further along the road to a welfare state so expensive that it bankrupts the nation. Conservatives lose elections because the people on - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-october-22-2021-1/) - TAX AND SPEND The U.S. government raked in more in tax dollars this year than ever before. Unfortunately, that didn’t come close to covering its spending excesses. That’s why the left is so intent on raising taxes. They want to spend even more on social issues. Progressives don’t care about budgets. They want no limit - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-october-22-2021-2/) - CRIME CRISIS It must be a life-altering experience to be in a bar or restaurant when somebody starts shooting. Just the incredibly loud blast of a Glock pistol would be terrifying enough. In St. Paul, Minnesota last week, two bar patrons started a pistol duel that killed a young woman and wounded 14 others. This - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-october-6-2021/) - ENVY OVER EQUALITY Leftists claim to be motivated by social sympathy. They say they want to help the downtrodden and lift the poor out of poverty. They want to curb wealthy people and eliminate inequality. However, once in power, Marxism turns into a ploy to get the money that affluent people have. In Russia, the - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-october-6-2021-2/) - KEYNESIAN CRISIS It’s hard to know if events are closing in on America, or if today’s circumstances are the normal ups and downs of life on earth. When I was a kid in high school, we had the end of the Korean War, communists, atomic bombs, Russian spies and Joe McCarthy. My history teacher spent - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-october-6-2021/) - MORE CRITICAL THAN EVER Readers know that I am firm in my belief that silver prices have been manipulated for years by large trading firms on the COMEX. I have raised the issue with the CFTC and the COMEX since 1985. Since uncovering the mechanics of the COMEX silver manipulation back then, I have been - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-september-20-2021-2/) - FINANCIAL TIGHTROPE It seems unlikely that the Chinese real estate crisis will be resolved quickly. I suspect that by the time this missive reaches you, it will be in the news once again. It could really dampen the type of speculation so prevalent in our markets. Extremes of debt and leverage are risk factors that - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-september-20-2021/) - FREE MONEY WILL DESTROY AMERICA Free money has two serious consequences for our country. It ruins the character of those who come to rely on it and its constant expansion unleashes powerful financial and monetary trends that threaten the dollar, the markets, and our economy. These are terrible problems. For example, the current outbreak of - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-september-6-2021-2/) - PROTECTION FROM PROGRESSIVES The biggest reason to own silver and gold today is that liberals are in charge of our government. We need only look at the major California cities where liberals are in control to see how incompetent and impractical they are. What they have wrought is disgusting. Their inability to govern shows up - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-september-6-2021/) - A MISGUIDED PROPOSAL Early voting starts this month in Minneapolis to decide if our police department should be abolished and replaced by a public safety department. A letter writer on the editorial page of the Minneapolis newspaper addresses the city council who favors the proposal, “You have had a year and a half to come - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-september-6-2021/) - SHORT NO MORE On Aug 18, I wrote how I expected an upside explosion in silver and gold prices soon. Since that time, gold has penetrated its key moving averages, but silver has not. The key point in silver, is what will the 4 largest commercial shorts do as and when silver prices rally and - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-september-20-2021/) - A GOLD WHALE SURFACES Compelling data in recent Commitments of Traders (COT) reports point to the emergence of a very large buyer in COMEX gold futures. The last four COT reports, starting with the report for positions held as of August 10, show a dramatic increase on the long side in gold for the 4 - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-august-30-2021/) - MONEY TREE The left is not just wrong most of the time, they are often incompetent. We’ve seen plenty of examples of that in recent weeks. Our monetary policy may top the list. The amount of money the government is dishing out defies comprehension. Everywhere you look, someone is getting free money. The latest candidates - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-august-16-2021/) - THE COMING WELFARE CRISIS Massive government spending on welfare subsidies must eventually lead to a breaking point. Our government is passing out enormous quantities of money for every kind of human hardship or discomfort. Everywhere you turn, people are getting free money. Eventually this leads to the kind of inflation that erodes so much of - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-august-2-2021/) - SILVER SQUEEZE The four largest silver sellers of silver futures appear to be changing their tactics. Recently, they have begun to reduce their dominant short position. They are buying back the silver contracts that other traders are selling. If this trend continues, and I think it will, we should soon see dramatic advances in the - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-august-2-2021-3/) - THE FALL I have this reoccurring fear that the present path of America is leading to something ugly. Emerson had it right when he claimed that pride and excess would collapse upon itself. He wrote of how a great leveling would follow those with too much success. The process of inflating can supercharge the economy - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-august-2-2021-2/) - THE CURSE OF FREE MONEY The free money the government is passing out to people these days has a price. It makes worse the problem it’s supposed to cure. For decades the government has poured money into the high crime areas of our cities. However, crime has become worse in these areas. The answer for - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-august-2-2021/) - VACATION Last week, my wife and I took three of our granddaughters (age 13, 15, 17) to the Black Hills of South Dakota on a vacation for 5 days. We experienced inflation first-hand when our rental car was $2,000 and a nights lodging was $300-$350. We landed in Rapid City just before noon and found - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-july-19-2021/) - INTERVIEW WITH TED BUTLER Cook: Lots to talk about with silver these days. What’s making you so certain of the price rise ahead in silver? Butler: The market structure on the COMEX has improved dramatically. Then we have the supply-demand fundamentals along with surging investment demand. The most dominant silver price manipulator, JP Morgan, has - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-july-19-2021-1/) - HYPERINFLATION OF ASSETS This morning, as I am writing this article, I’m watching an auction online of antique waterfowl decoys. These artifacts were used for hunting ducks, geese and shorebirds. Over 500 pieces will be sold in two days. Early items in the auction are 3 shorebird decoys estimated to sell at $300,000 to $500,000 - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-july-19-2021/) - SMALL POTATOES In 1973, when I first started in the gold and silver business, forecasters were making predictions of a coming steep sell-off in the dollar. Over the years, we’ve heard frequent prognostications that the dollar was doomed. A recent rally in the dollar reminded me of who was responsible for past gains in the - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-july-5-2021/) - SILVER SHORT SQUEEZE Sometimes the greatest investment stories go unrecognized. For example, most investors never give a second thought to procuring a cache of silver coins and bars. This despite the claims of some experts that silver is a grossly undervalued asset. Newsletter editor Theodore Butler, who writes a publication solely on silver claims that - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-june-4-2021-2/) - SILVER APES I received a request from a long-term subscriber this week to more fully comment on the flows of silver into the Sprott silver ETF, PSLV, in light of the remarkable Reddit/#wallstreetbets movement, which is reported to now number more than 90,000 participants from basically nothing in January. (These silver apes get their name - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-june-4-2021-1/) - SHORT SUBJECT Again and again, I have stressed that silver has been suppressed in price for decades by the concentrated short position of the 4 and 8 largest traders in COMEX futures. Many have come to accept this, but my findings do not have universal acceptance. That’s too bad because it’s all that matters in - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-june-18-2021-1/) - INGRATE OF INGRATES In Minneapolis, we have a large population of immigrants from Somalia. One neighborhood, known as little Mogadishu, lies within a congressional district that just reelected the leftist Ilhan Omar. This harsh critic of America immigrated form a country notorious for its corruption, lack of security, armed conflicts and humanitarian crises. The Somalis - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-june-18-2021-2/) - CONTRASTS My secretary advised me that we needed one more article to finish off this newsletter. I thought about it for a day and then the morning paper carried two contrasting articles worth mentioning. A Los Angeles Times article blames the U.S. for the migrant crisis. Our financial support of Central American governments that fought - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-june-4-2021-2/) - CONSEQUENCES The U.S. reminds me of a person who suddenly makes a lot of money, gets bigheaded and blows their fortune on high living. Usually they wind up suffering through financial reversals and a lengthy period of personal austerity. They are humbled by these struggles. Often we hear that these painful experiences changed them for - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-june-4-2021-1/) - INGRATE OF INGRATES In Minneapolis, we have a large population of immigrants from Somalia. One neighborhood, known as little Mogadishu, lies within a congressional district that just reelected the leftist Ilhan Omar. This harsh critic of America immigrated form a country notorious for its corruption, lack of security, armed conflicts and humanitarian crises. The Somalis - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-may-21-2021/) - CRIME AND PUNISHMENT Last week a little girl was in her backyard, bouncing on a trampoline, when a bullet hit her in the head. She was the 19th child shot in Minneapolis so far this year. The police have never been more necessary, yet our city leaders want to reimagine the duties of the police. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-may-21-2021/) - NOW MORE THAN EVER The turnover or physical movement of metal either brought in, by truck, to the COMEX-approved silver warehouses or that was removed, also by truck, from those same warehouses, accelerated last week to just over 10.3 million ounces. Thanks to the magic of annualization (multiplying by 52), this week’s 10.3- million-ounce physical - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-may-7-2021-2/) - HEDGING AGAINST THE LEFTISTS “Free” appears to be the most important word for the new administration. Free as in free money, free education, free health care, free rent, and free anything else that may alleviate life’s difficulties. It’s vote buying and socialism and it’s the dead opposite of what made our country great. Unfortunately, the - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-may-7-2021/) - STICKER SHOCK A discussion among economists of the Austrian School was recently printed in a publication of the Mises Institute. In commenting on warnings of inflation ahead economist Peter Klein said, “As the Austrians explained, a monetary-induced expansion is not indefinitely sustainable. You cannot create real wealth by turning on the money press… When will - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-may-7-2021/) - HITTING THE WALL I have contended for years that silver has been manipulated and suppressed in price. According to the law of supply and demand, if what I say is true, a physical shortage must occur at some point. No other outcome is possible. The signs that we’ve finally arrived at that point have never - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-april-23-2021-2/) - SILVER REPORT The London Bullion Market Association (LBMA), a trade association for 150 gold and silver refiners, dealers and traders recently came out with a report on silver entitled, Silver Investment 2021. I’ve never seen a publication from them before, let alone one that dwells on current and recent events in silver. The last thing - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-april-23-2021/) - SILVER SHOWDOWN I’ve never been fortunate enough to be in on the ground floor of an asset like Bitcoin, Dogecoin or GameStop that go up by a huge percentage. Long ago, after years of conversation with analyst Ted Butler, I began to believe that silver was the ticket to making a fortune. I began to - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-april-9-2021-2/) - PROGRESSIVE FALSEHOODS Liberals constantly run off at the mouth about income inequality. So do all too many conservatives. The malls that were filled with people prior to COVID and the busy new internet retailers seem to reflect a healthy middle class and less financial inequality than claimed. Now comes an article in the Wall Street - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-april-9-2021-1/) - TED BUTLER HAS IT RIGHT (The following article was written for the Internet.) Anyone dissenting from the possibility of a short squeeze in silver may not be familiar with Ted Butler’s explanation of the concentrated short position in silver on the COMEX. For him, the operative word is concentration. The 4 largest short sellers on - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-april-9-2021-1/) - POOL ACCOUNTS Lately, there has been increased internet chatter about the Perth Mint’s unallocated silver pool account. Questions have arisen about the Mint’s ability to provide physical silver in a timely manner. I first raised the issue about the unallocated pool accounts at the Perth Mint some 14 years ago and followed up with a - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-march-30-2021-2/) - THIS AIN’T BEAN BAG I personally add gold or silver assets of one type or another to my holdings whenever I can. It gives me great comfort because I thing gold and silver will appreciate. The main reason is currency debasement. The monetary authorities are creating trillions out of thin air, but there are plenty - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-march-30-2021-1/) - SPENDTHRIFTS Sometimes I fear that America is coming apart at the seams. Both political parties endorse huge inflationary spending schemes that are socialistic in nature. The economic philosopher Leonard Read (1898-1983) warned, “Inflation makes the extension of socialism possible by providing the financial chaos in which it flourishes. The fact is that socialism and inflation - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-march-30-2021-2/) - NEW TWISTS IN SILVER On Jan 5, the 4 big shorts held just under 81% of the total commercial short position in silver. Two months later he concentrated short position of the 4 largest traders in silver is even more concentrated. There is great physical tightness, and a budding shortage in both retail and wholesale - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-march-30-2021-1/) - TURMOIL The core issue in silver remains the concentrated short position in COMEX silver futures – the persistent massive short position held by 4 traders that has artificially suppressed the price for decades. The short position in silver is larger than that of any other commodity in terms of real world production. The CFTC is - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-march-12-2021/) - CANCELING CARTOONS When I’m in Florida for the winter, I subscribe to the Sarasota Herald Tribune. When reading the paper I always check a cartoon called Mallard Filmore that pokes fun at progressives. Wouldn’t you know it, they canceled Mallard Filmore last week. They put a notice in the cartoon section and when I read - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-february-23-2021-2/) - SUBSIDIZED HELL With liberals and leftists in charge of our Central Bank and Treasury, the future of our currency and economy looks bleak. These are the same people who have made a mess of welfare, immigration, education and energy. The pied piper of Keynesian extremism, Paul Krugman of the New York Times advises the new - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-february-23-2021-1/) - MISINFORMATION For the past twenty years, silver analyst Theodore Butler and I have had a conversation about silver almost every morning. Ted is a paid consultant to Investment Rarities and I get to hear his thoughts as he develops them. Early on, I realized that Ted knew more about the silver market than any other - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-february-5-2021-3/) - TIME TO BE CAREFUL The Forecaster, an interesting financial newsletter, has written that 90% of all coin dealers fail every decade. From what I’ve seen in the past 40 years, that’s true. Our competitors today are completely different from who they were 20 or 30 years ago. When a bullion or coin dealer fails, a - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-february-5-2021-2/) - THE END OF EMPIRE History instructs us that empires don’t last. From the Roman Empire to the British Empire and the lesser empires in between their dominance has faded or disappeared. A powerful case can be made that the American empire faces a similar resolution. We are making the same mistakes as those who failed - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-february-5-2021-1/) - HIGHER TAXES? RIGHT NOW? The governor of Minnesota is a doctrinaire liberal. He wants to raise taxes and he wants affluent people to pay their “fair share.” Since we are already paying more than our fair share, I wrote the following article for the Minneapolis newspaper. They ran it February 1. This is not the - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-february-23-2021/) - SILVER PUBLICITY The dilemma for the big silver shorts is the growing awareness of a developing physical shortage in silver and the explosion of interest in the concentrated short position. If forced to cover these entities could be doomed. Wide attention to silver now can be found across every manner of interaction on the internet. - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-january-29-2021/) - CANCELING PROSPERITY Unfortunately, we are now going to suffer through any number of left-wing initiatives that harm the economy and the nation. In Minneapolis, we are responding to a horrible crime wave by cutting the number of police. That’s the same kind of thinking that caused the liberals to kill the construction of an important - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-february-1-2021/) - NO GOOD REASON TO BE SHORT The current short position in COMEX silver is mostly held by 8 major financial firms. We can only guess who they are because their identities are protected. According to the COT reports, the biggest 4 are short nearly 60 thousand contracts and the next 4 are short nearly 20 - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-january-18-2021/) - CAUSE FOR ALARM Nothing could be more detrimental for the American economy than to experience the full implementation of the liberal agenda. They are going to start with raising taxes. The corporate tax, capital gains tax, income tax and estate tax are going up. Leftist economists will foolishly claim that this won’t harm the economy, - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-january-18-2021/) - SILVER CHANGE The silver story has changed radically over the past year. No longer are the big shorts capable of putting on major short positions knowing that they will get out with big profits. The biggest threat to the big shorts in silver is that investors seem to be awakening to the fact that silver - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-january-4-2021/) - SILVER HISTORY My involvement with silver began as a commodity broker in the early 1970’s, so I lived through the rise and fall of the Hunt brothers. Before the price peak of $50 in 1980, I brokered what was at the time, the largest retail transaction ever at Drexel Burnham – a tax straddle involving - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-january-4-2021-2/) - NOT SMART Sometimes a politician says something so outrageous it gets your attention. A recently elected New York congressman Jamaal Bowman said, “I believe our current system of capitalism is slavery by another name.” Next time you’re shopping at Costco, think if that experience reminds you of slavery. How about when you’re buying something from - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-january-4-2021/) - SPENDING OUR WAY INTO SOCIALISM It’s easy to get a pessimistic view of the future these days. Since the left has taken over the media, we get a daily dose of liberal sentiments. The left has no limit on their social sympathy. Every human hardship, problem or difficulty must be cured by government. No one - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-december-16-2020/) - PANDORA’S BOX Our political leaders seem to think that once the pandemic ends, the economy will bounce back. However, in our largest cities it’s more than COVID that has boarded up and paralyzed downtown commercial centers. The riots and looting have contributed to the closures that have hurt the economy. So in order to get - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-december-1-2020/) - CAUSE FOR WORRY As a worrisome crime wave explodes across the Twin Cities, members of the Minneapolis City Council this week introduced a plan to cut millions from the police department’s budget. They also proposed a limit on the hiring of new police recruits. That’s in the face of 500 shootings so far this year - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-november-18-2020/) - JIM COOK INTERVIEWS TED BUTLER Cook: What is the reason for the extreme price volatility in the silver market? Butler: We’re reaching the end of the line, in terms of the final resolution and the train is shaking so much, it looks to be coming off the tracks. Cook: Is this a good thing? Butler: - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-october-23-2020/) - THE PROPER PERSPECTIVE ON SILVER In silver, the concentrated short position of the 4 and 8 largest traders is much larger than the comparable short position in any other commodity. Undoubtedly, you’ve heard me mention this before, but with the aim of putting it into proper perspective, let me try to describe what this means. - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-november-18-2020/) - NOTHING TO WORRY ABOUT Coming to Florida for the winter seems to give a person a new lease on life. You can be comfortable going for a walk with no fear of slipping and sliding on ice. The sun mostly shines unlike the gloomy days of the wintery north. A hurricane was in force the - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-november-6-2020-3/) - LIBERAL MEDIA The constant hatred directed at Mr. Trump by the media was probably instrumental in his defeat. Five news networks and most daily newspapers poisoned the minds of enough people to defeat the president. Furthermore, they refused to carry any negative news about Mr. Biden. This is most worrisome, however, there may be a - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-november-6-2020-2/) - MY GOLD WATCH In 1984, I bought a Rolex watch in Zurich, Switzerland. If memory serves me it cost $4,500. I’ve worn it for 36 years and on several occasions had to take it to a Rolex dealer in the U.S. for repairs. Each time the charge was over $800. Recently the stem fell out. - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-november-6-2020-1/) - A BAD OUTCOME I’m jumping the gun here on assuming Joe Biden’s victory. The victory of Mr. Biden propels us further along the road to a welfare state so expensive that it bankrupts the nation. Mr. Trump lost because the people on the dole turned out en masse to vote against him. They know that - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-october-23-2020/) - FAIR SHARE Whenever I hear liberals claim that people with high income are not paying their fair share in taxes I get vexed. Political ads for Mr. Biden feature that claim, but it’s not true. Here in Minnesota, federal and state taxes combined mean that I am paying 48% of my income to the government. - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-october-7-2020-1/) - WELFARE WORRIES I believe that the welfare state carries the seeds of its own destruction. When a high percentage of voters are subsidized they will prefer a candidate who promises them more money. Currently, we have the welfare state on steroids because of the pandemic. As government spending goes through the roof, it puts us - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-october-7-2020-2/) - PROPAGANDA It’s getting to the point where you can’t trust the reporting of the mainstream media. All along they have selectively reported the news. If it was negative for the left, they underreported or ignored it. Lately, I believe they have taken to reporting dishonestly. Our local newspaper has become one big editorial for left-wing - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-october-7-2020/) - THE JPMORGAN SETTLEMENT The U.S. Justice Department and Commodity Futures Trading Commission have settled the precious metals spoofing/manipulation case which first came into view in November 2018 with the announcement of a guilty plea by a former JPMorgan trader. The total fine of $920 million was the largest in CFTC history and the settlement included - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-september-29-2020/) - A SORRY OUTCOME Since I grew up in south Minneapolis, I know Lake Street well. That’s the street where 40 blocks of businesses were burned and destroyed. In high school we used to cruise Lake Street trying to meet girls. For years, I bought my penny loafers at a shoe store on Lake and Chicago. - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-september-15-2020-3/) - THE WELFARE IMPERATIVE The British economist, John Maynard Keynes, considered to be a semi-socialist once said, “The political problem of mankind is to combine three things: economic efficiency, social justice and individual liberty.” Fair enough. Unfortunately, the Democrats who swear allegiance to Keynes turned to social welfare and subsidies to accomplish these objectives. To say - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-september-15-2020-2/) - MEDIA HATE The full persuasive power of the national media is focused on defeating Donald Trump. If he loses, that will be the reason. The left has controlled most of our media outlets for decades. They are the reason our government has implemented so many social programs and grown so large. In my family we - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-september-15-2020-1/) - GOLD SURPLUS Most of the gold ever mined is still with us and a lot more will be added to the total in the years ahead. New technologies have made it easier to find gold. It used to be that prospectors would find a rocky outcrop with some visible gold in it. An exploration company - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-september-29-2020/) - ROCK, PAPER, SCISSORS Way back in prehistoric times, before electronic gaming, children used to entertain themselves with certain hand games. I was always more of an “odds or even” gamer in which the choice was to display one or two fingers and outguess your opponent. The more sophisticated version was “rock, paper, scissors” which given - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-september-15-2020/) - SILVER There is no market more manipulated than silver. Therefore, it stands to reason that when the manipulation ends, the reaction the other way will be commensurate with the decades of price suppression. It appears inevitable that the final reaction upward will be quite volatile. The only questions are how high and how fast the - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-september-1-2020-2/) - SILVER ANNIVERSARY Twenty years ago this month a friend told me about a man named Theodore Butler who knew a lot about the silver market. I decided to call him and was quickly impressed with his knowledge. My company was trying to overcome the lack of business following the Y2K hoax in 2000. When Mr. - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-september-1-2020-1/) - EVIL TO HIM WHO EVIL THINKS It’s a favorite theme of the left that America is guilty of perpetrating evil. Peggy Noonan writing in the Wall Street Journal about the Democratic convention pointed out, “There was a non-stop hum of grievances – most of the speakers thought they had to beat the crap out of - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-august-21-2020-2/) - WHEN TO SELL I started a company called Midwest Silver Distributors in the early 1970s when silver was under $2.00 an ounce. I would cold-call successful businessmen and try to get an appointment with them to explain the potential of silver. One of my first sales was to my mom and dad. They bought three - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-august-21-2020/) - VICTIMS Years ago a well-known Democrat wrote that every time a person gets mugged the Democrats lose a vote. In other words the victim of a car-jacking no longer has much social sympathy. Experiencing such a crime changes them forever. How about the crimes and rioting in our major liberal cities, will that change voter - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-september-1-2020/) - EXTREME GAINS The best way of approaching silver is to hold it on a fully paid-for long-term basis, as I believe the gains will be dramatic enough to make up for passing on the lure of margin. I am particularly intrigued at this time by what I perceive to be the short-term set up in - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-august-21-2020/) - JIM COOK INTERVIEWS TED BUTLER Cook: Keith Neumeyer of Majestic Silver just came out with a prediction that silver will rise to $300.00 per ounce. What do you think? Butler: It’s easy to understand extremely bullish price projections for silver once you grasp the whole story. Cook: What is the whole story? Butler: The same - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-august-6-2020-3/) - THE SILVER MANIPULATION MAY BE OVER We’ve been waiting a long time for silver to break through the $20 level. Just two weeks ago, I said to someone that it sure would be great to see it reach $20. We are there and looking for more. Something big has changed for silver and it’s likely - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-august-6-2020-2/) - CRIME WAVE Crime in Minneapolis has gone ballistic with dozens of carjacking’s, armed stick-ups, purse-snatchings, shootings, assaults and burglaries. Fights among large groups of young men are reported in the downtown area and vandalism and graffiti damage property including the Vikings’ football stadium. Some businesses have been robbed at gunpoint twice in one week. One - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-august-6-2020-1/) - THE GREAT DIVIDE If we get a president who shares the sentiments of liberal mayors and governors our safety may be threatened. Progressive politicians have allowed our cities to burn and kept police from responding to 911 calls. In one case, people were charged with a crime for trying to protect their property. The left - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-august-6-2020/) - THE PERFECT SOLUTION A question from a close associate a week or so back prompted a whole new line of thought. The question set me back so much that I told him I had to think about it before responding. I’ve thought of little else since. The question was whether the big buyers of the - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-july-22-2020-4/) - HORROR STORY If Mr. Trump loses as the polls say he will, the stock market will likely crash. Next the economy will suffer from high taxes, excessive regulation and the new green deal. The dollar will plummet as the government’s deficit explodes from the funding of guaranteed incomes, free tuition, forgiveness of student loans, lavish - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-july-22-2020-3/) - SWITCHING TO COKE Where does the Pepsi Cola Company get off giving millions of dollars to Marxist organizations? Do they think that will sell more pop? Their donation reminds me of Lenin’s boast, “The Capitalists will sell us the rope with which to hang them.” No other soda pop company appears to be supporting Marxist - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-july-22-2020-2/) - MAN OF THE HOUR It’s hard to imagine that any president has ever been confronted with so many devilish problems as Mr. Trump. The virus, the riots and the economic consequences are enormous difficulties for the nation and the chief executive. He’s been criticized for his handling of the virus, but who could have done - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-july-22-2020-1/) - THE LIBERAL ASYLUM Recent events engineered by leftists are beyond crazy. They were able to shut down an important energy pipeline and stop construction of another. All pipelines are in peril and the cost of oil and gas could soar. Further madness exists with the demands to eliminate police or prohibit them from responding to - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-july-8-2020-2/) - THE ULTIMATE KEYNESIAN The British economist John Maynard Keynes laid out an economic strategy for dealing with economic disasters. Our president is following the Keynesian formula to a T. He’s inflating just as Keynes advocated. Keynes thought inflation to be inevitable and useful. Mr. Trump is getting new money into people’s hands and encouraging them - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-july-8-2020-1/) - TIRESOME The Russian revolutionary V.I. Lenin thought that a dedicated cadre of Marxist revolutionaries could lead people into overthrowing the existing order. He was right. When I hear Marxists today expressing hatred for America and denouncing us for our crimes in various parts of the world, it sounds like they have the same thing in - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-june-22-2020-2/) - FOLLOW THE MONEY The polls suggest that Donald Trump will lose the election this fall. Perhaps you should consider owning gold and silver for that reason alone. The stock market would certainly crash if he lost. The Democrats would quickly raise taxes and come after your money. Expensive social programs like guaranteed monthly income and - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-june-9-2020/) - MORE BULLISH THAN EVER Silver analyst Theodore Butler wrote this week that silver was still widely undervalued compared to gold. He claimed that if the silver/gold ratio dropped by half, silver would still be undervalued. That would put the ratio at fifty to one and silver priced at $34 an ounce. In other words, silver - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-may-18-2020-2/) - LIBERAL LUDDITES Today’s progressives stand against limitations on COVID-19 lawsuits. Common sense is not so common. The trial lawyers have been quick to initiate legal proceedings against various businesses over COVID infections. Imagine the potential liabilities of cruise ships and airlines. Any business that brings back an employee who subsequently gets sick could face a - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-may-18-2020/) - STARING INTO THE ABYSS Every morning the newspaper chronicles huge financial losses suffered by an array of public and private entities. Colleges, hospitals, municipalities, state governments and corporations are losing billions and even trillions. The University of Minnesota reports that its athletic department alone will lose $75 million and overall losses will be $4 billion. - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-april-14-2020/) - HOPE SPRINGS ETERNAL It would appear that the Federal Reserve has been successful in stemming the drop in the stock market. The Fed is buying trillions of Treasury debt. This is newly-created money employed to keep bond yields low and stock prices high. There will be trillions more QE and debt monetization ahead. You would - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-may-1-2020/) - GOLD AND SILVER RELATIVE VALUATION Relative valuation is something widely followed with the silver/gold price ratio. One thing that makes this ratio special is that it goes back to the dawn of civilization, some 5,000 years ago. Gold and silver have witnessed the birth and death of every currency in history. Gold and silver have - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-april-14-2020-2/) - GROWING THE WELFARE STATE Over the past one hundred years, America has become a full-fledged welfare state. With Social Security, unemployment benefits and many other programs, the government aims to eliminate financial hardship and make life easier. The great wealth our country has generated pays for this social spending. At the beginning of the twentieth - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-april-7-2020/) - UP JUMPED THE DEVIL When I started in the precious metals business 47 years ago, I quickly embraced the viewpoint that inflation would destroy the purchasing power of the dollar. The pro-gold economists of the Austrian School warned about the dangers of fiat money and runaway government spending. I believed them. However, the crashes and - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-march-20-2020/) - SILVER PLUNGE The collapse in gold and silver prices and the shares of mining companies this week brought losses of hundreds of billions to existing holders as the value of all the gold in the world dropped by $800 billion. Investors in precious metals took it on the chin, but why? From everything I can - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-march-20-2020-2/) - SANITARY SILVER A couple of decades ago, someone sent me a bottle labeled colloidal silver. When I talked with the sender he made all sorts of health claims for the stuff. After I looked it up on the internet I became leery about drinking it. Health authorities had issued warnings that it could damage the - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-march-20-2020-1/) - HEALTH SCARE It’s hard to write about current events because things are changing so fast. So my comments may be out of date by the time you get this. I went to see my doctor the other day. When he came in to the room he extended his hand. Rather than shake it, I extended - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-march-5-2020-3/) - MAKING THE CASE On one day the stock market falls more than it ever has. The following business day it goes up more than it ever has. That does not seem to be a place to have all of one’s savings and assets as many people do. A small percentage should be in something tangible - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-march-5-2020-2/) - IMMIGRATION CONSTERNATION In Nevada’s recent primary election, Latino voted overwhelmingly for the socialist candidate Sanders. The fact that minorities are mostly Democrats is one thing, but being a socialist in something else. Nothing could be worse for America than to have the new citizens in our country vote for socialism. In Minnesota, our congressional representative - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-march-5-2020/) - HISTORIC PRICE PLUNGE The most unusual feature of the (Feb. 28) COT report was that through Tuesday, February 25th JPMorgan increased its gold short position while the other commercial shorts did the opposite. It’s very much an outlier that JPMorgan added new shorts as the other commercial shorts were buying back short positions. My conclusion - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-march-5-2020/) - POOR BABIES When I hear the socialist candidates for president claiming that “people are living from paycheck to paycheck,” I think, so what? I’ve lived paycheck to paycheck including the first twenty years of marriage. When I started two businesses I went for months without any paycheck. At times, in life you have to struggle - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-february-17-2020-2/) - BIASED REPORTING Most newspaper dailies in the U.S. are hopelessly liberal. The writers and editors have an unabiding hatred for capitalism. They loathe free markets, the profit motive and rich white guys. Global warming gives newspapers a reason to tee off on the oil companies they hate. Their resistance to drilling and new pipelines borders - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-february-17-2020-1/) - SILVER STOCKS The last few days have shown that silver bullion and silver stocks are two different animals. On Friday, February 7th, Silvercorp, a Chinese silver miner popular with American and Canadian investors, dropped like a rock losing almost 25% on the day. Other major silver equities were off 10% or more with the likelihood - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-february-3-2020-1/) - IMPORTANCE OF INCOME I had dinner the other day at a friend’s house. He’s the founder of a successful business that has grown 20% a year for the past decade. Now his son who he brought into the business to help him run it wants to sell the company. It’s causing friction in the family. - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-february-3-2020-2/) - SUBSIDIZED MISBEHAVIOR Back in the 1930s when the government began to replace private charity with welfare programs, a stigma existed on the dole. Not all poor people signed up. Those who enrolled often had character issues. The earliest welfare rolls were made up of people who saw it as a way out of work and - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-janyary-17-2020/) - DAY OF RECKONING It has now been ten business days since the end of 2019. That’s ten days for the CFOs and top risk officials at the 7 largest shorts in COMEX gold and silver futures to ponder what to do about the record large mark-to-market losses booked at the end of last year. On - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-january-6-2020/) - SILVER The intrepid silver analyst Theodore Butler was the first person to insist that the prices of silver and gold were set almost exclusively on the Commodities Exchange (COMEX). His years of experience as a futures broker and trader also led him to discover that JPMorgan was the ringleader of a group of eight banks - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-january-6-2020-2/) - PROSELYTIZERS NEEDED When it comes to politics, the trend is not our friend. The left has made too many inroads in recent years. When has there ever been a socialist or radical leftist with a legitimate chance to become president? Never before have socialists like Ocasio-Cortez and the Squad become media darlings. Their overwrought hatred - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-january-6-2020-3/) - PERFECT STORM A number of factors have coalesced into a powerfully bullish case for silver. The current price may be as cheap as silver has ever been. It was certainly more valuable in Roman times when it was used for coinage, jewelry and utensils. The Romans employed 40,000 slaves to mine silver from Spain and - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-december-20-2019/) - FINAL THOUGHTS Our government hides too much from us. We don’t know what’s going on behind the scenes in the nation’s finances. In the name of national security, much is opaque or redacted. That seems like another good reason to own silver and gold. We suspect that worrisome events will lead most affluent people to - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-december-6-2019/) - MAKING MONSTERS When a big city elects a liberal mayor, you can be sure practical solutions to problems will be jeopardized. In St. Paul, Minnesota an outbreak of shooting and killing on city streets has alarmed the citizenry. The police want to install something called a shot-spotter which immediately notifies them where a shot was - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-december-6-2019-2/) - FUN IN THE SUN My wife and I got to Florida before any horrible winter weather hit Minnesota. The weather in southwest Florida was balmy and pleasant. But as in life, nothing is perfect. Red tide was in full bloom and that caused a bout of coughing each time we went outdoors. The fish kill - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-december-6-2019-3/) - OUR VIEW Most people with a lot of assets have a money manager doing their investing for them. It’s hard to find fault with that strategy. Professional managers have done well for their clients investing in the stock market. Only twice in the past twenty years have losses been severe. So, why should affluent investors - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-november-23-2019/) - REDS For two days running articles appeared in our newspaper about Jane Fonda demonstrating against global warming. Leave it to the liberal media to celebrate her activism and subsequent arrest. They were also cheering her on in 1972 when she visited Hanoi and stabbed our prisoners of war in the back. That treasonous action should - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-november-23-2019-2/) - TOO LIBERAL Our local newspaper, The Minneapolis Star Tribune, drives me crazy. Here’s my latest complaint to the owner and editors: Sirs, The disclaimer on your editorial page reads, “Commentaries are selected to present a range of perspectives, etc.” That’s a falsehood. It should read “Commentaries are selected to present a range of left-wing perspectives.” - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-november-23-2019-3/) - BIG DOINGS IN SILVER Yes, it’s been a hellaciously long time waiting for silver to rise. However, that does not detract from its potential to be a fabulous winning investment. As silver analyst Theodore Butler puts it, “Silver has the greatest profit potential of any asset on earth.” We can agree with that because silver - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-november-9-2019/) - STAYING PROSPEROUS Is anybody getting poorer in America? You would think that our people are falling into poverty and hard times when liberal politicians speak. It’s just the opposite. We’re all doing better. Yes, billionaires are getting richer, but that’s not taking anything away from anybody. Actually, the money that the wealthy have creates employment - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-november-9-2019-2/) - ICE COLD My wife and I are leaving for our winter home in Florida on November 10th. It’s been 10 to 20 degrees below normal in Minnesota, so I’m happy to leave this unseasonable cold. Despite the frigid air, and one of the worst winters ever recorded last season the local newspaper constantly beats the - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-november-9-2019-3/) - SILVER BULLS AND SILVER BEARS For the most part, the financial markets and the media don’t have much good to say about gold and silver. In our modern era of Keynesian economics, gold is often considered to be a relic of the past. A much smaller contingent of the populace has good things to say - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-october-30-2019-2/) - TAX THEFT Upon listening to the recent Democratic debate it occurred to me that if Marx, Lenin, Castro and Che Guevara were in the debate they would sound much the same as these candidates. Their unifying theme is hostility towards the rich and raising taxes. Several of them despise capitalism and free markets. Most of - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-october-30-2019-3/) - INGRATE Donald Trump was condemned after his rally in Minneapolis for commenting on our large Somali population. He suggested that the residents of a state should have more input on the number of immigrants allowed. That caused the newspaper and others to condemn him as a racist. One Somali was quoted as saying “I didn’t - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-october-30-2019-4/) - NOTHING BETTER When silver rose from $1.31 in 1972 to $5.80 in 1974 we were amazed. Imagine our shock in early 1980 when the price rose to $49 an ounce. If silver rose to $650 an ounce in the months ahead you would experience the same thing we did in 1980. Is it possible we - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-october-14-2019-2/) - TRUMP’S VISIT I’m writing this on the weekend prior to Donald Trump’s “Make America Great Again” rally in Minneapolis on Thursday October 10. Upon the announcement of his visit, the mayor told the media that the president was not welcome. Activists made noise about a confrontation. One TV person claimed that all the attendees would - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-october-14-2019/) - SILVER WHODUNNIT About fifteen years ago silver analyst Theodore Butler was trying to uncover who was the dominant short seller in COMEX silver. He theorized it was Hank Greenberg’s AGI, a company that got into financial trouble insuring collateralized debt obligations. Subsequently, Bear Stearns took over their major short position and quickly suffered huge losses - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-december-23-2019/) - A MISSING MOTIVE A new thought occurred to me about the extraordinary Federal Reserve accommodation in the repurchase (repo) market that erupted in mid-September. I’d be lying if I claimed to understand exactly what’s going on, except to know that truly astounding amounts of money (many hundreds of billions of dollars) are involved and that - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-december-7-2019/) - UNUSUAL MOVES It is quite unusual that there hasn’t been more significant selling in COMEX gold and silver by hedge funds known as managed money traders. They generally sell on price declines that penetrate the moving averages. Of course, significant managed money selling might still lie ahead on further lower prices. If we do get - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-september-27-2019-4/) - SILVER MILLIONS I always wanted to make a lot of money in my life. I’ve done ok, but the big score that I envisioned has always escaped me. In 1970 I moved to Miami and started a drinking water business. Once the business got profitable, I sold it for $130,000. That was a lot of - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-september-27-2019-3/) - SOCIAL STUPIDITY Since the administration of Franklin Roosevelt the government has tried to improve the condition of the poor. In terms of material things like cell phones and TVs their lot in life has improved. The same can’t be said about their behavior, which has deteriorated. The more the poor of all races were helped - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-september-27-2019/) - THREE CHEERS FOR INCOME INEQUALITY It really gets tiresome listening to liberals whine about income inequality. They know nothing about wealth creation or the incredible effectiveness of capitalism when it comes to delivering the goods. People get rich in America by providing goods or services that consumers prefer. New breakthroughs and innovations can make entrepreneurs - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-september-16-2019-3/) - TIGHT SUPPLY Not many people in the world know the incredible facts about silver. If they did, they would buy it and the price would go out of sight. The combination of industrial demand and investment demand requires around one billion ounces of silver each year. That’s the total amount produced each year from mining - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-september-16-2019-2/) - HOW TO FAIL IN BUSINESS The failure rate in the coin and bullion business is higher than almost any other business. I have a list of our competitors in 1982 and all of them are out of business. I can count over 50 dealers in Minnesota that have gone under. Most of the companies that - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-september-16-2019/) - TAX TERROR Elizabeth Warren wants a 2% wealth tax each year on every asset a rich person owns. The asset level for this tax starts out high, but once a new tax is introduced, it soon grows in scope. The federal income tax started out at 1% in 1913. Before long the annual wealth tax - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-september-3-2019-2/) - ULTERIOR MOTIVES In an earlier article, I wrote that the U.S. Immigration Service has an office in our building. Consequently, we see a large flow of Central Americans and others in our lobby moving in and out of the immigration office. Many have large numbers of kids. According to an immigration lawyer in our building, - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-august-20-2019-4/) - FORTUNE BUILDER Silver analyst Theodore Butler thinks a price explosion in silver will start soon. Time is running out on silver under $20 an ounce. Mr. Butler makes a forceful argument that silver will go up ten times or more. If it does and you own a lot of silver, it can make your life - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-august-20-2019-3/) - IN YOUR NAME ONLY We stress taking silver into your physical possession or storing it at Brink’s in your name with the serial numbers of your bars on your storage agreement. In that way it’s your silver. When you own an exchange traded silver fund (ETF) the bars are comingled with other bars. Furthermore, an - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-august-20-2019-2/) - ECONOMIC DUNCES Whenever the left gains control of a nation and moves away from capitalism, the economy disintegrates. Although liberals profess to want a strong economy, once in power they enact policies that are ruinous to an economy. Currently the left wants high taxes, more regulation, powerful unions and a drastic reduction in oil and - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-august-2-2019-3/) - BLACK EYE Over the years one of our biggest competitors has been Monex, formerly known as the Pacific Coin Exchange. Although they advertise physical coins and bullion, they push a dubious margin scheme that’s quite lucrative for them. Unfortunately, a lot of investors have been burned by this highly leveraged speculation. The U.S. Commodity Futures - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-july-19-2019-3/) - SPITTING ON THE FLAG The hard core leftists finding fault with America are making news and gaining influence these days. Nothing could be more offensive to most of us than rejecting the Pledge of Allegiance or refusing to stand for the national anthem. In the left’s make-believe world, everybody is a racist. In reality it’s - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-july-19-2019-2/) - FUNNY MONEY Thanks to George Gilder for pointing out that Bitcoin could never be a medium of exchange or form of money that competed with the U.S. dollar. That’s because it’s subject to a capital gains tax. Government currencies escape taxation. That’s an advantage that relegates cryptocurrencies to a minor role. Furthermore, the government has - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-june-17-2019-2/) - WHAT HAPPENS WHEN THE MONEY ISN’T THERE? The month of May brought a record jump in government spending and the biggest budget deficit for the month of May on record. The U.S. government spent $439 billion, the most ever spent in one month. For the first eight months of the fiscal year, the budget deficit - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-june-6-2019-5/) - UP JUMPED THE DEVIL Not many people believe that they should hedge against a financial panic. They think the future will be rosy and the government can stop any crisis that unfolds. That’s been the case with the last few recessions. If you kept holding your blue chip stocks and bonds, they eventually returned to - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-june-6-2019-2/) - WHERE DOES IT END? A front page article in the Minneapolis Star Tribune began with the headline, “Omar Calls for a Foreign Policy Reset.” The 37-year-old Somali American Ilhan Omar represents Minneapolis in Congress. She became infamous for her recent antisemitic comments and insensitivity to the 9/11 attack. The article quotes her as follows, “When - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-may-20-2019-3/) - THE JURY IS STILL OUT Years ago, I wrote about the dangers of inflating and the possibility of runaway inflation. Nothing like that has happened and I often wonder why. I’m no monetary expert, but I believe the onset of high inflation has been forestalled by a type of deflation. For example, when we see - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-may-20-2019-2/) - TWO KINDS OF FREE Our TV news carried a feature on a large crowd of local immigrants becoming citizens. Most were Hispanics and Africans, a number of whom wore hijabs. Years ago, I went through the process of becoming a citizen. My mother was a Yankee from upstate New York, but she gave birth to - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-may-6-2019-2/) - FOLLOW THE LEADER Silver analyst Theodore Butler has been right about so many things in the past, it lends credibility to his prediction that silver will go up 5 to 10 times from here. He insists that you can get rich owning silver. Back in 2001 when he became a consultant for my company he - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-april-19-2019-2/) - COMRADES I wrote this article for a recent newsletter. I think it’s worth reading again. If you had any doubts about the warped perceptions of the left, recent political warfare should put that to rest. Today’s liberals make things up to suit their political purpose. They see things through a filter of radical leftism where - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-april-3-2019-2/) - RISE OF THE RADICALS If the lunatics on the left ever get the upper hand you can say goodbye to the America we know and love. Liberals have veered so far off the tracks you wonder about their sanity. The Democratic Party is gripped by crazy ideas and a fanaticism that borders on madness. Their - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-march-18-2019-2/) - BUTLER’S BOMBSHELL Over the years, silver analyst Theodore Butler has made some astonishing predictions about silver. He has said silver’s rise will be like an atomic bomb on a hydrogen bomb on a neutron bomb. He claims that silver will go up ten times and possibly twenty times. In 2001, he predicted silver would rise - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-march-4-2019-2/) - INGRATE You’ve probably seen Minnesota’s new Somalian congresswoman acting up in the news. How does somebody like Ilhan Omar immigrate here from a third world hellhole like Somalia, enjoy government subsidies and not express thanks and appreciation for the good life in America? How dare that person attract attention by bitterly criticizing America? Why in - [BEST OF JIM COOK FEBRUARY 18, 2019 5](https://www.investmentrarities.com/best-of-jim-cook-february-18-2019-5/) - FELLOW TRAVELERS Every morning upon waking, I enjoy a cup of coffee while reading the Minneapolis morning paper. It’s the same newspaper I’ve read for decades, but lately I’ve begun to despise it. It’s such a liberal rag reprinting every negative article on Donald Trump that originate in the New York Times and the Washington - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-february-18-2019-4/) - RANDOM THOUGHTS We had a film festival on the little island in Florida where my wife and I spend the winter months. One of the films, “The Last Suit,” was about a Holocaust survivor who had migrated to Argentina in 1945. Now he was old and wanted to return to Poland and see the man - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-february-18-2019-3/) - HATRED Every successful American with money should be alarmed at the current political bombast aimed at the rich. The left is ramping up hatred of capitalism and those who have acquired wealth. They are blaming free markets for poverty and economic hardship. They want the government to take away the assets of our most successful - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-february-18-2019-2/) - BAD MONEY Newspaper articles about the recent cold snap in Minnesota never fail to mention a half-dozen hardy homeless persons who insist on living outside in tents with heaters inside. Homelessness is a favorite subject of liberal newspapers. I wonder if they ever question why there are so many more of them these days. The - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-february-4-2019-3/) - DON’T MISS WHAT THE WORLD IS MISSING Let’s consider some of the many reasons that silver should go up. The fact that JPMorgan has used unsavory tactics to hold the price of this important mineral down has created some powerfully bullish consequences. The historically low price has discouraged mining for silver. Many discoveries have been - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-february-4-2019-2/) - TAX THEFT Elizabeth Warren wants a 2% annual wealth tax with plenty of IRS audits to go with it. Imagine putting together a list of everything you own for the tax collector. Just don’t forget that painting on the wall or your mother’s jewelry that you inherited. Otherwise you may have it confiscated or a - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-january-23-2019-2/) - MANDATORY METALS There is a good chance that in two years the left returns to power. They will immediately raise taxes, cripple the oil industry, and give more money to the welfare class. They will attempt to give free healthcare to everyone along with free college tuition and a guaranteed income (free money). Their impractical - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-november-21-2019/) - SHORT NO MORE Evidence indicates that the circumstance of the concentrated short position in COMEX silver futures is about to change radically. JPMorgan is about to double cross its fellow concentrated short sellers due to its massive physical holdings of silver and gold. Either regulatory pressure, bad publicity, or fear of indictment may also be - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-october-30-2019/) - RETURN OF THE WHALE? In June, I began to notice an unusual development in the Commitment of Traders Report (COT) for silver. Normally the short position of the 4 largest traders is two to three times larger than the long position. By the end of June, the concentrated long position had grown substantially larger than - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-september-27-2019/) - SERIOUS INROADS, BUT STILL UNFINISHED BUSINESS By now, it would be hard not to have read about the Justice Department’s landmark criminal indictments against three additional precious metals traders from JPMorgan. Two of the traders charged are current employees and include the head of global metals trading. The charges include spoofing and market manipulation that - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-september-3-2019/) - MR. BUTLER’S SILVER WIZARDRY Since we have a number of new readers to our newsletter, it’s important to stress that our silver analyst Theodore Butler is considered to be a genius on the subject of silver. He writes a $400-a-year newsletter on silver and we are fortunate to have him as a paid consultant. His - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-august-20-2019/) - PUTTING TWO AND TWO TOGETHER Alcoholism doesn’t get enough blame in our discussions of poverty. Native Americans suffer an alcoholism rate as high as 90% on some reservations. Their social condition may be the worst in human history. Striking similarities exist between the reservations and the inner cities. The deterioration of the human condition is appalling - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-august-2-2019/) - WHO IS THE BIG SILVER BUYER? People have asked me if silver is such a great potential investment, then why hasn’t somebody big come in to buy it? In the past, the Hunt brothers in 1980 and Warren Buffett in 1998 bought large quantities of silver. More recently JPMorgan has acquired a massive 850 million - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-july-19-2019/) - THE CRYING NEED FOR POSITION LIMITS There are two great evolution’s underway in the world of commodities that, while in full view, are misunderstood or overlooked by most observers. So important are these two developments that they threaten serious market upheaval when they are addressed, as must inevitably occur. Indisputable data published by the primary - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-august-2-2019/) - EXPROPRIATION Recently, I noticed a photo of young Marxists holding up a variety of signs as they marched in a demonstration. One sign said, “Join the Struggle against Capitalism.” Another sign said, “Free Education, Funded by Expropriation.” To me the latter sign is the essence of the left; they want your money. They want what - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-july-19-2019/) - IMMIGRANTS My company shares our office building with the U.S. Immigration Service. For the last few years a steady flow of immigrants from Central America have poured into the building. At times, they crowd the lobby. For the most part they don’t speak English. I always smile and try to be friendly when I’m in - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-july-2-2019/) - LIBERAL SMOKESCREEN In a recent N.Y. Times article, a wealthy businessman argued for higher taxes on the rich. Many prominent Democrats are also calling for a wealth tax. Each year we would have to give a percentage of our net worth to the government. Supposedly this would eliminate income inequality. How paying higher taxes would lift - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-june-17-2019/) - PAPER CAPER We call the creation of money out of thin air inflating. The spiraling price consequences we call inflation. This debasement of our money’s purchasing power makes our living costs higher. Inflation reduces our standard of living. That’s one strike against it. We call it easy money, loose money, helicopter money or quantitative easing. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-july-2-2019/) - WHY IS JPMORGAN ABOVE THE LAW (The following paragraphs are excerpted from an email written by Ted Butler to a reporter from a major financial publication.) Recent developments indicate, almost beyond question, that when it comes to silver (and gold), JPMorgan is operating in direct violation of the law. So clear is the proof of - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-june-6-2019/) - ROCKET FUEL According to silver analyst Theodore Butler, various hedge funds are currently short 440 million ounces of silver on the COMEX futures market. That’s over half the silver that’s mined in a year. These funds manage money for big investors and they rely on computerized trading programs. Human judgements and emotions don’t enter into - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-april-19-2019/) - A POSITION IMPOSSIBLE TO DUPLICATE I’m going to take a break from complaining about JPMorgan’s illegalities and instead give it credit for accumulating 850 million ounces of physical silver over the past 8 years. No one can ever buy as much silver as JPMorgan has bought for close to what it paid. Most importantly, JPMorgan’s - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-may-20-2019/) - TED BUTLER INTERVIEW Cook: A lot of silver investors are frustrated these days. Can you give them any hope? Butler: I’d be lying if I said I wasn’t frustrated as well. But I have no doubt that silver will eventually prove its great worth. Cook: Does everything still depend on what JPMorgan does? Butler: If - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-may-6-2019/) - A SUDDEN PASSING Bart Chilton, Commissioner of the Commodity Futures Trading Commission from 2007 to 2014, died suddenly on April 27th, at age 58 of pancreatic cancer. Only a month ago he gave an interview to Chris Marcus at Arcadia Economics. [Available on YouTube; Google “Bart Chilton Chris Marcus.”] He would have known at the time - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-april-19-2019/) - STATE OF DENIAL After four months in Florida, my wife and I flew home to Minneapolis in time for a vicious blizzard that the TV weatherman called a bomb cyclone. Hopefully, this was the final round in what was the worst winter of the century. After a month of record cold, the left-wing Minneapolis newspaper - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-april-3-2019/) - BEHIND CLOSED DOORS A fog lifted from the silver market last week and we could see things clearly that we had only guessed at. A former commissioner of the Commodity Futures Trading Commission (CFTC), Bart Chilton, sat for an interview with blogger Chris Marcus to discuss silver market shenanigans. Mr. Chilton was a commissioner from - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-april-3-2019/) - CONFIRMATION, OUTRAGE AND DISGUST A recent interview with former CFTC Commissioner Bart Chilton nearly knocked me off my feet because it confirmed what I have alleged, starting more than 12 years ago. I’ll include the interview later, but first I will set the background of the subject and timeline in order put Chilton’s words into - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-march-18-2019/) - HUBRIS Not that my opinion of Warren Buffet matters, but I did lose respect for him after he endorsed higher taxes a few years ago. I thought he was a conservative, but turns out he’s a closet liberal. Lately he has been dismissive toward gold. Throughout his life, Mr. Buffet gave off the impression of - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-march-18-2019/) - ON THE HOT SEAT Q: A minor analyst recently remarked that he didn’t believe any of the claims you make about market manipulation and called it conspiratorial stuff. What do you say about that? A: That’s the main reason my arguments have never caught on in a big way. Nobody wants to be associated with - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-march-4-2019/) - RISING INFLATION The business cycle theory of the great Austrian School economist Ludwig von Mises maintained that a reduction in the growth of money and credit would almost immediately translate into a slowing economy. A corollary was that the stock market would sense this decline and begin to roll over. In the last few months, - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-february-4-2019/) - INCOME INEQUALITY The liberal media constantly bombards us with three major left-wing themes. First, it’s global warming and the green new deal advanced by the left’s new superstar, the economically illiterate Ocasio-Cortez. Secondly, we have the frequent accusations of racism and almost daily dustups in the news about a supposed racial slight somewhere. Finally, there - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-march-4-2019/) - A NEW SILVER ISSUE FOR THE JUSTICE DEPARTMENT It’s been four months since the U.S. Department of Justice secured a criminal guilty plea from a former JPMorgan trader for spoofing and manipulating precious metals prices on the COMEX. The Justice Department made it clear that it was engaged in an ongoing investigation into COMEX precious - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-february-18-2019/) - INTERVIEW Theodore Butler writes a $400 newsletter on silver. He is considered by many to be the world’s foremost authority on silver. Eighteen years ago he predicted that silver would go up ten times, which it did. We caught up with him at his home in Florida. Q: As the world’s leading silver bull, are - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-january-23-2019/) - PANICS AND CRASHES Many of the articles that follow in this newsletter predict a variety of economic crisis ahead. Most of these difficulties and financial disasters spell doom for conventional investments. The best protection against the possibility of catastrophic loss has historically been owning gold and silver. What you will read here are powerful arguments - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-december-17-2018/) - DNA My mother was proud of the fact that she was a member of the Magna Carta Dames; a group of women who traced their ancestry back to the signers of the Magna Carta in 1215. Her ancestor was Baron Fitzwalter, the leader of the nobles who forced King John to sign the document that - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-january-7-2019/) - UNAFFORDABLE Lately I’ve been reading how the government won’t be able to afford the retirement benefits and health care costs for retirees. I’ll tell you what they are not going to be able to afford; a swelling population of the underclass who rarely work and live primarily off subsidies. In all too many cases these - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-december-17-2018/) - GET RICH QUICK The conviction of one JPMorgan trader begs the question as to whether the DOJ is looking deeper than spoofing alone. If they are it will be hard for them not to notice that JPMorgan has hit .1000 for ten years running in trading COMEX silver and gold, never taking a loss, something - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-october-15-2018/) - JPMORGAN AND SILVER Has one of America’s biggest banks become the largest private silver hoarder in history? We know from public records that JPMorgan (JPM) currently holds 139 million ounces of silver in its COMEX approved warehouse. That’s more silver than the Hunt brothers accumulated in 1980 and more than Warren Buffet acquired in his - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-december-3-2018/) - THE DAY THE MUSIC DIED A few years ago I started collecting concert posters. This is an important collectible that is starting to catch fire. Heritage Auctions in Dallas holds regular auctions and produces a great catalogue for each of their sales. The other day, I had an enjoyable lunch with Andrew Holly. Andrew is - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-november-20-2018/) - SHOOTING THEMSELVES IN THE FOOT I don’t remember while growing up that businessmen were Democrats. For the most part they were Republicans. They universally stood against high taxes, big government, social welfare and too much regulation. They strongly advocated capitalism and a government that balanced budgets. They opposed Lyndon Johnson’s Great Society programs and the - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-november-1-2018/) - READY TO EXPLODE The turnover or physical movement of metal brought into or removed from the COMEX-approved silver warehouses surged this week to 14 million ounces, the highest level since I first observed a surge in turnover seven and a half years ago. Annualized, that comes to 728 million ounces or nearly 90% of total - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-november-1-2018/) - BUY LOW, SELL HIGH Why would anybody want to sell some of their stock portfolio now and buy silver or gold? By most measures stock are at historically high levels but recent volatility may be a harbinger of a precipitous decline to come. Meanwhile, silver bumps along at historical lows frustrating those who own it. - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-october-15-2018/) - THE TIME TO BUY SILVER IS NOW On any objective basis, silver has numerous sound reasons pointing to much higher prices in the future. Silver is currently undervalued in price to a degree rarely seen in the past. In fact, the biggest knock against silver is that it has gone down for more than seven - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-october-1-2018/) - WHAT TO USE FOR MONEY IN A HYPERINFLATION We are often asked what would a person use for purchases during and after a runaway inflation. As one client pointed out, you wouldn’t take a one-ounce gold coin to purchase a gallon of ice cream at a convenience store. I can only speculate on the answer - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-august-31-2018/) - LOCKED AND LOADED We are locked and loaded for an upside move of great significance in gold and silver. In fact, I have trouble envisioning how we won’t see a very large move higher in the metals. I know that the only thing that will short-circuit a large up move in silver and gold is - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-september-14-2018/) - AMERICA WAS NOT TO BLAME When liberal governor Cuomo claimed that America was never great, he was expressing the sentiments of many progressives. They believe that America is guilty of crimes against humanity. One of their favorite accusations is that we have blood on our hands for the death of millions of Native Americans. The - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-august-31-2018/) - RED AND DEAD The tragic red tide outbreak in southwest Florida has been in the news this summer. The death toll of fish, porpoises and sea turtles has reached tragic proportions. Rotting fish are piled high on the beaches and the stench is unbearable. The once crowded beaches are empty and in places the emerald - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-august-15-2018/) - SHRINKING WEALTH Most wealthy men and women turn their finances over to professional money managers. Lately some have been turning to hedge funds. These managers tend to run in packs. They pretty much follow the investment logic of Warren Buffet who pointed out that twice in his career his stock portfolio fell by half. He - [BEST OF JIM COOK](https://www.investmentrarities.com/the-best-of-jim-cook-august-1-2018/) - THE SILVER FOX (I believe that what Theodore Butler has discovered about JPMorgan and the silver market is true. And if it is true, then so is the following.) You would think that the heating up of our economy would cause industrial metals like silver and copper to rise in value. In other words, you - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-july-21-2018/) - THE HORRORS OF UTOPIA Nothing threatens American freedom like the rise of socialism. The main tenets of socialism are to abolish private property and the market system and turn the ownership of business over to the government. For all intents and purposes socialism and communism are identical. Suddenly socialism has begun to attract adherents in - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-july-21-2018/) - THEODORE BUTLER INTERVIEW Cook: Let’s go back to basics. You’ve written that JPMorgan has suppressed the price of silver in the futures market for the past 7 years. Why have they done that? Butler: They’ve accumulated 700 million ounces of physical silver at a rate of 100 million physical ounces a year. Meanwhile they’ve shorted - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-10-2001/) - LAST CALL? By Theodore Butler One of my objectives in writing these newsletters is to avoid the embarrassment of being wrong. For that reason I try not to write about short-term trading influences. But recent activity requires comment. Today’s conditions suggest the price of silver is about to explode. I implore you to own silver - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-12-2001/) - Also see new article at: Best of Roger Arnold Best of Lance Lewis Major Market Event Ahead? By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) I’ve had this thought I’ve been thinking a - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-16-2001/) - Funny Business By Theodore Butler In my last piece, an interview with Jim Cook just prior to September 11, I discussed three main themes – the Commitment of Traders (COT) position on COMEX silver, the current and prospective impact of supply and demand on silver and the deficit, and silver as an investment relative to - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-august-14-2001/) - The Commitments of Traders Report By Theodore Butler This article about silver is going to be different from other articles I’ve written. As you know, I feel the most important aspects to the silver market are the continuing physical deficit, leasing and the paper short position. These factors account for the persistent low price amid - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-31-2001/) - The Silver Countdown Begins By Theodore Butler The question that I am asked most often is, “when will silver explode in price?” Whether in public or private response, invariably I answer, “I don’t know.” It’s not because I’m being cute or evasive, the reason I don’t know is because the answer is unknowable. Of course, - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-17-2001/) - Silver Steal By Theodore Butler The price of silver has recently hit multi-year lows. Whenever the price of an asset hits historical highs or lows, it’s natural to reflect on the significance of such an event. Those who have an interest in a particular asset find their analytical curiosity at a peak during such times. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-26-2001/) - Electricity and Silver By Theodore Butler It’s hard to believe, but electricity, as an everyday event, is relatively recent. Go back just one hundred years and you see what I mean. Your great-grandfather’s father didn’t get to live with the benefit of electricity. To this day, vast areas and millions of people in the world - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-5-2001/) - The Silver Challenge By Theodore Butler (As has been our policy, we wish to include a brief disclaimer regarding mr. Butler’s views. No one can safely predict the future and it’s possible that mr. Butler’s analysis will prove incorrect. Silver can go up, but silver can go down. It is up to you to read, - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-10-2001-3/) - LAST CALL? By Theodore Butler One of my objectives in writing these newsletters is to avoid the embarrassment of being wrong. For that reason I try not to write about short-term trading influences. But recent activity requires comment. Today’s conditions suggest the price of silver is about to explode. I implore you to own silver - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-7-2001/) - SILVER RATIONING By Theodore Butler In this article I will, as usual, attempt to convince you of the merits of buying physical silver. My case is simple – the natural conclusion of the current supply and demand situation in silver is the certain coming of rationing. That’s right, silver will eventually be rationed. Not necessarily - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-16-2001/) - HARD QUESTIONS By James R. Cook In this interview, James Cook tries to turn up the heat on silver analyst Theodore Butler. Cook: Since we first talked about silver, the price has dropped 50 cents per ounce. What’s causing that? Butler: The sellers have been more aggressive than the buyers. specifically, the paper short - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-13-2001/) - SILVER LEASING OR SILVER FLEECING? By Ted Butler (From James Cook, President of Investment Rarities: The following essay by Theodore Butler makes claims and arguments that are controversial. Although we have found Mr. Butler to be an accurate analyst of the silver market, we must nevertheless issue a disclaimer about the nature of his comments. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-february-27-2001/) - BACK TO THE FUTURE By Ted Butler Several months ago, I was waiting in the reception area of a title insurance company for a routine real estate closing. While waiting, I eyed two framed photographs which hung on the wall. They were aerial, panoramic shots of the town where the office was located, Deerfield Beach, - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-january-15-2001/) - ROUGH AND TUMBLE Over the last few months Investment Rarities has been promoting the case for silver made by analyst Theodore Butler. However, we haven’t blindly accepted his arguments without challenges. We have argued about many of his points and vigorously questioned others. For the most part, we have been impressed on how well - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-25-2000/) - ANSWERING THE ARGUMENTS AGAINST SILVER By Ted Butler Please check the updated Best of Steve Puetz. While it’s true that I am exceedingly bullish on the price of silver, it must be remembered that there are those who make a bearish case for silver. That’s why it’s important to examine the most often heard bearish - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-11-2000/) - Guest Commentary – Theodore Butler SILVER EXPERT THEODORE BUTLER CLAIMS THE FOLLOWING BULLETIN TO BE THE MOST BULLISH NEWS IMAGINABLE FOR SILVER. BULLETIN US National Defense Silver Stockpile Eliminated (Washington, DC – November 27, 2000) The US Defense National Stockpile Center (dnSC) committed to deliver its remaining stockpile of silver, nearly 15 million ounces, to - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-13-2000/) - I received this letter recently from silver analyst, Ted Butler: I hope you read and enjoy it. Dear Jim: I’m glad to hear you are getting the word out on silver, and that the response has been good. I want to see you sell a bunch of silver. Putting people into silver right now will - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-10-2002/) - Also see new article at: Essay of the Month Best of Bob Bishop Best of Mogambo Guru Best of LeMetropole The Silver Deficit Revisited By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-12-2002/) - Also see new article at: Best of Roger Arnold Best of Lance Lewis Major Market Event Ahead? By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) I’ve had this thought I’ve been thinking a - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-29-2002/) - October 29, 2002 Also see new article at: Best of Gary North Best of Steve Puetz Best of Mogambo Guru Best of Robert Prechter Best of Roger Arnold Best of Bob Chapman Best of Howard Ruff Best of John Mauldin Best of Mark Rostenko Best of Jay Taylor Two Kinds of Silver By Theodore Butler - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-22-2002/) - Here We Go Again By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Prices of silver have come down again, to the lower end of the roughly low $4 to low $5 range that - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-08-2002/) - The Silver Producers Are The Problem By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) For most of this year I have waged a campaign against the manipulators on the COMEX silver market. That - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-24-2002/) - The Silver Producers Are The Problem By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) For most of this year I have waged a campaign against the manipulators on the COMEX silver market. That - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-10-2002-2/) - Also see new article at: Essay of the Month Best of Bob Bishop Best of Mogambo Guru Best of LeMetropole The Silver Deficit Revisited By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-4-2002/) - Also see new article at: Best of Jay Taylor Best of Bob Chapman Best of Richard Russell Best of Doug Noland The Eagles Soar By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Statistics - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-august-27-2002/) - Also see new article at: Best of Lance Lewis Best of Mogambo Guru Best of Bill Buckler Best of Steve Puetz Best of John Mauldin Speculative Position Limits By Theodore Butler This is a follow-up to the recent letters and e-mail exchanges with the CFTC and the COMEX regarding my allegations of manipulation in the - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-31-2002/) - Also see new article at: Best of Jay Taylor Best of Doug Noland Best of Kurt Richebacher Best of Steve Puetz Best of Howard Ruff History In The Making By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-18-2002/) - Also see new article at: Best of Bill Buckler Best of Kurt Richebacher Best of Richard Russell Here is Ted Butler’s most recent letter to the CFTC: June 17, 2002 The Honorable James E. Newsome Commodity Futures Trading Commission VIA FAX and E-MAIL Three Lafayette Centre 1155 21st Street, NW Washington DC 20581 Dear - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-11-2002/) - Also see new article at: Best of Robert Prechter Best of Bill Buckler Best of Doug Noland Best of Roger Arnold Best of Bob Chapman A TIME FOR ACTION By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-29-2002/) - BUTLER’S BROADSIDE By James R. Cook Here’s Ted Butler’s latest letter to the CFTC. In the face of the Enron scandal agencies like the CFTC need to carefully review their oversight responsibilities. In the case of whistle blowing by Mr. Butler, they need either to act or to carefully explain why they didn’t. The public - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-15-2002/) - Also see new articles at: Essay of the Month Best of Kurt Richebacher Best of Bob Bishop Best of Le Metropole Best of Jay Taylor THE HEART OF THE MATTER By Theodore Butler (The following essay was written by silver analyst Theodore butler. Investment Rarities does not necessarily endorse these views, which may or may - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-10-2002/) - THE CHINA SILVER SYNDROME By Ted Butler Over the past couple of years, and especially in the past few months, there have been frequent references to silver coming from China. Mostly, these stories highlight China’s emergence as a silver exporter, and claim that Chinese silver is the prime reason for its low price. The upcoming - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-19-2002/) - THE COMING SILVER EXPLOSION AN IN-DEPTH INTERVIEW WITH SILVER ANALYST THEODORE BUTLER It’s our opinion that silver analyst, Theodore Butler has more knowledge about silver and the silver markets than anyone else on the planet. That’s a big claim. Nevertheless, we have presented difficult questions to him time and again to which he has responded - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-12-2002/) - Also see new article at: Best of Kurt Richebacher Best of Robert Prechter The following letters about silver short sales are self explanatory. November 16, 2001 James E. Newsome, Chairman Commodity Futures Trading Commission Fax 202-418-5533 Dear Mr. Newsome: As a silver futures and options buyer I am perplexed by the large degree of short - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-5-2002/) - RUNNING ON EMPTY By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be accurate.) Yesterday, I had the rare treat of taking my son shopping. I’m not much of a shopper, but this was a way - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-january-15-2002/) - The End of Silver Leasing? By Theodore Butler (The following essay was written by silver analyst, Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be accurate.) For the past month, all eyes in the world of metals have been focussed on silver lease rates. And for - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-30-2003/) - Also see new article at: Best of John Mauldin Best of Bill Bonner Best of Gary North Best of Bill Buckler Best of Doug Noland Best of Steve Puetz Take it to the Limit By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-23-2003/) - Also see article at: Best of Le Metropole Best of John Mauldin Best of Chris Temple Best of Bill Bonner Best of Mogambo Guru The Future Is Now By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-8-2003/) - Also see new article at: Best of David Morgan Best of Le Metropole Best of Lance Lewis Best of Chris Temple Best of Richard Russell The Weight Of The Evidence By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-11-2003/) - Also see new article at: Best of Richard Russell Best of Mogambo Guru UPDATE ON WAREHOUSE STOCKS By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The reported silver inventories in COMEX-licensed depositories have - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-4-2003/) - Also see new article at: Best of Richard Russell Best of Robert Prechter Best of Hans Sennholz Best of Le Metropole Making The Case By Theodore Butler (From Jim Cook – I’ve asked Ted Butler to explain, in the clearest terms possible, why he feels silver is manipulated. I know he has been making the - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-21-2003/) - BREAK POINT By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Or extra innings. Or sudden-death overtime. Or any term used to describe a decisive moment in which the outcome of a contest will - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-14-2003/) - Also see new article at: Best of Kurt Richebacher Best of Jay Taylor Best of Mogambo Guru The MOABO? By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The latest Commitments of Traders Report - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-7-2003/) - Also see new article at: Best of David Morgan Best of Richard Russell Best of Bill Bonner Best of Mogambo Guru Best of Doug Noland Don’t Close The COMEX By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-29-2003/) - The Solution By Theodore Butler Admittedly, our world is a very complex place. Because of that complexity, solutions to many problems are difficult, painful and sometimes even impossible. Often, it comes down to the fix that is least damaging, and not the perfect solution. But, in my opinion, we all share a responsibility to strive - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-16-2003/) - Also see new article at: Best of Jay Taylor Best of Mogambo Guru Eliot Spitzer Meets The Silver Managers? By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The new Commitments of Traders Report - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-2-2003/) - Also see new article at: Best of Mogambo Guru Best of Mark Rostenko Best of Doug Noland Best of Bill Bonner Still Unresolved By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Here’s - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-29-2003/) - Also see new article at: Best of Bill Bonner Best of Robert Prechter Best of Richard Russell Best of Mark Rostenko Best of Jay Taylor Best of Bill Buckler Another Ted Butler Essay follows this article. Is This The Real Move? By Theodore Butler The sharp, one-day jump in silver certainly focussed everyone’s attention. The - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-22-2003/) - Is This The Real Move? By Theodore Butler The sharp, one-day jump in silver certainly focussed everyone’s attention. The obvious question – is it the start of the big move, or just another head fake caused by tech fund/Silver Manager manipulative COMEX trading? Before I answer, I want to remind you that I have a - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-15-2003/) - Also see new article at: Best of Bill Bonner Best of John Mauldin Best of Mark Rostenko Best of Jay Taylor Best of Doug Noland Best of Steve Puetz Do the Crime, Do the Time By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-10-2003/) - Also see new article at: Best of Jay Taylor Best of Bob Bishop Best of Mogambo Guru COMEX Silver Warehouse Stocks By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) There’s more to the - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-3-2003/) - James Cook’s essay follows this article. Also see the series of letters between Mr. Butler and Mr. Wolkoff. The COMEX Silver Shuffle By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) In the - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-23-2003/) - Also see article at: Best of Jay Taylor SILVER VOLCANO OR CONTROLLED RELEASE? By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) When you choose to write about one topic, you develop certain patterns. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-15-2003/) - Also see new article at: Best of Steve Puetz (great newsletter) Best of Kurt Richebacher Best of Mogambo Guru Best of Roger Arnold Best of Le Metropole Best of Richard Russell Best of Mark Rostenko Best of Bill Buckler James Cook essay follows this essay. THE ROAD TO EXTINCTION By Theodore Butler (The following essay - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-1-2003/) - Also see new article at: Best of John Mauldin Best of Mark Rostenko Best of Robert Prechter Best of Bob Bishop On A Silver Platter By Theodore Butler (The following essay was written by Silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-18-2003/) - Also see new article at: Best of Bill Bonner Best of Hans Sennholz Best of Mark Rostenko Best of Jay Taylor Best of John Mauldin Best of Roger Arnold BUY YOUR GRANDKIDS A HOUSE – FOR TEN GRAND By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-4-2003/) - Also see articles at: An important essay by Doug Noland Best of David Morgan Best of Lance Lewis Best of Mogambo Guru Best of John Mauldin Best of Mark Rostenko Best of Bob Bishop Essay of the Month A Very Interesting Trade By Theodore Butler (The following essay was written by silver analyst Theodore Butler. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-january-7-2003/) - 2002 – 2003 SILVER REVIEW AND OUTLOOK By Theodore Butler January 2003 The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The silver market in 2002 was somewhat uneventful. Certainly, from a price perspective, things were not - [THEODORE BUTLER SILVER ARCHIVES](https://www.investmentrarities.com/theodore-butler-silver-archives-june-24-2018/) - GOLD DOUBLE-CROSS For quite some time, I have raised the possibility of a “double-cross” in silver, whereby the big silver short, JPMorgan, turns against the other commercial shorts and lets prices soar since JPM is protected against overall loss by its massive physical silver position. JPMorgan operates similarly in COMEX gold as it does in - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-july-7-2018/) - SOCIALIST THIEVERY What the socialists really want is our money. They are driven more by envy than humanitarianism. It doesn’t matter to them that socialism makes a country and its inhabitants poorer. No matter how bad the outcome, they will never acknowledge their failure. Once they are in charge, they will kill you to maintain - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-june-24-2018/) - IMPATIENT Some people have run out of patience with silver and are selling their holdings. We still sell a lot more than we buy back, but we are seeing more people liquidating their silver positions than in the past. Whenever we get a sell order it bothers me. We convinced them to buy silver based - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-21-2004/) - THE REAL GOLD By Theodore Butler Mid-December 2004 (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) I had lunch last month with a good friend, Pat, a successful investor and businessman. He is avidly interested in - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-14-2004/) - Taking Care Of Business I’m keeping this week’s comments intentionally brief. In last week’s article, even though I wrote that I had the feeling that we could have a real “thumper” to the downside, actually seeing it immediately occur was somewhat unnerving. That said, while timing is akin to luck, I hope readers understand that - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-7-2004/) - China Trades Oil (Badly) By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The current COTs indicate no basic change in the extreme readings in gold and silver. The tech funds are very long - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-29-2004/) - The Good News Metal By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) I prefer to analyze silver on supply and demand fundamentals rather than currency changes or chart configurations. I try to be - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-23-2004/) - Still Unresolved – Part II By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) When I first picked the title for this article, I had this nagging thought that I had used it before. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-9-2004/) - Do Or Die? By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) A close reading of the current Commitments of Traders Report (COT), including an extrapolation since the Tuesday cut-off, indicates we are still - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-2-2004/) - Izzy Plays Baseball (The following essay was written by Israel Friedman. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) (Last year we ran an article by Theodore Butler’s friend and confidant, Izzy. Ted has been asked by some readers what Izzy thinks about silver at this - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-2-2004/) - BUTLER’S BULLSEYE Current comments appear at the bottom of this report. In an article written in February of 2001, when gold was $267 and silver was $4.30, Ted Butler wrote the following: “Gold is cheap. Gold should significantly jump in price soon and surprise most observers. I think anyone that’s short is crazy (especially the - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-19-2004/) - Right In Front Of Our Eyes By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) There were two extraordinary developments last week. Although the connection was not made openly, they were very much related. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-11-2004/) - Unbelievable By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) There has been a dramatic change in the structure of the gold and silver markets over the past 3 weeks, as indicated by the - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-29-2004/) - China Confirms The Obvious By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Once again, the COTs correctly depicted the market structure and foretold the price direction in silver. Following the tech fund long - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-15-2004/) - The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The market structure, as defined this week by the COTs, continues to explain the short-term movements in gold and silver. As usual, the recent decline in prices has - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-7-2004/) - When, Not If By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) As foretold by the COTs and the market structure, the buying orgy by the technical hedge funds appears to be leading to - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-august-17-2004/) - The Vise Tightens By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The Commitments of Traders Report (COT) still suggests further room to the upside in gold and the currencies (dollar down), as the - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-august-10-2004/) - The New Silver Era By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Once again, the structure of the market, as depicted by the COTs, foretold the path of least resistance in gold and - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-27-2004/) - Miners Subsidize The Low Silver Price By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The previous deterioration in the COTs paved the way for a significant sell-off in gold, silver and copper. The - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-19-2004/) - Same Old Game? By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The market structure, as depicted by the Commitments of Traders Report (COT), deteriorated more sharply than I expected in gold, copper and - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-13-2004/) - Great Expectations By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The big silver news event of the week had to be the announcement that the chairman of the Commodity Futures Trading Commission (CFTC), - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-6-2004/) - TEXAS HOLD ‘EM By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) It didn’t take long to see how the unusually large remaining open interest in the July COMEX silver contract would be resolved. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-30-2004/) - So Far, So Good By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) I delayed this article for a day, in order to review the statistics concerning the first delivery day on the COMEX - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-22-2004/) - The Missing Ingredient By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The market structure in the COMEX metals (gold, copper and silver) remains intact and exceedingly bullish. The latest Commitments of Traders Report - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-14-2004/) - $200 an Ounce Silver? – Can it Happen? By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The other day Jim Cook, the president of Investment Rarities, asked me a question that set me - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-7-2004/) - Thank You, Mr. Spitzer By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The market structure, as indicated by the latest Commitments of Traders Report (COT), continues to support a liftoff in prices. While - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-1-2004/) - All Systems Go By Theodore Butler Still spectacular. That’s the only way to describe the current COMEX market structure, as evidenced by the Commitments of Traders Report (COT). Not only have the COTs for silver, gold and copper remained in strong “buy signal” territory, the latest COT indicated that silver and gold actually got better, - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-24-2004/) - China Controls Silver By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) First, a quick word on the Commitments of Traders (COT) – it’s spectacular. The latest COT shows the total COMEX dealer net - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-17-2004/) - A Silver Buy And The CFTC’s Response By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) This was quite an eventful week for silver news. First, the Silver Institute released its annual silver survey, - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-10-2004/) - The Great Mystery By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The engineered price smash in gold and silver by the dealer community continued last week, with new lows being set in gold - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-4-2004/) - Keeping Up To Date By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The latest Commitments of Traders Report (COT) confirmed the complete flush out of the 100,000 tech fund gold longs that were - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-27-2004/) - The Mother Of The Mother By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Like a guillotine, the commercial dealers beheaded the tech fund longs in COMEX gold and silver over the past week - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-19-2004/) - TAKING CARE OF BUSINESS By Ted Butler Shocking, yet expected. That’s the only way to describe the recent sharp sell-off in silver and gold. Shocking, because of the magnitude and suddenness of the decline, as silver fell more in two days than at anytime in more than 15 years, and there were no real silver - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-13-2004/) - The Relative Value Of Silver By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) As I was preparing this article (April 13), the gold and silver markets moved dramatically to the downside. No one - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-6-2004/) - April 6, 2004 AN ARTICLE ABOUT TED BUTLER ENTITLED “IS SILVER BEING MANIPULATED” By Doug Hornig Ted Butler is a man on a mission, and since that mission concerns an anomaly in a market that is of interest to many of our readers, we decided to investigate. Butler is an independent commodities analyst with thirty - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-30-2004/) - Shorts Gone Wild By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The latest Commitments of Traders Report (COT) was a shocker for gold, as the tech funds plowed onto the long side and - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-23-2004/) - Testing Your Brain By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The price of silver has surged to multi-year highs, to levels last seen 16 years ago. That means that anyone who purchased - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-16-2004/) - A Modest Proposal By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Last week, the state copper mining company of Chile, Codelco, made an extraordinary announcement. Actually, an extraordinary announcement was also made last - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-8-2004/) - Also see new article at: Best of Jim Cook Best of Chris Temple Best of Bill Bonner Best of Lance Lewis Best of John Mauldin Best of Doug Noland Bigger Isn’t Always Better By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-1-2004/) - Also see new article at: Best of David Morgan Best of John Myers Best of Chris Temple Best of John Mauldin Best of Richard Russell Best of Doug Noland Best of Gary North Best of Mark Rostenko Best of Bill Buckler Transformation By Theodore Butler (The following essay was written by silver analyst Theodore Butler. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-february-23-2004/) - Also see new article at: Best of Mogambo Guru Best of Robert Prechter Best of Mark Rostenko Best of Kurt Richebacher Best of Bill Bonner Best of Jay Taylor Best or Richard Russell Best of Doug Noland Best of Steve Puetz OBSTRUCTION OF JUSTICE By Theodore Butler (The following essay was written by silver analyst - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-february-16-2004/) - Also see new article at: Best of Doug Noland Best of Bill Buckler Best of Lance Lewis Best of Chris Temple Best of John Mauldin Best of Le Metropole KEEPING THE PRESSURE ON By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-february-9-2004/) - Also see new article at: Best of Doug Noland Best of David Morgan Best of Jay Taylor Best of Le Metropole Best of Bill Buckler Best of Chris Temple Best of Robert Prechter A Special Invitation By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-february-2-2004/) - Also see new article at: Best of Bob Bishop Best of Mark Rostenko Business As Usual? By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The just-released Commitments of Traders Report (COT), for positions - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-january-20-2004/) - Also see new article at: Best of Doug Noland Best of Bill Buckler Silver Highlights of 2003 By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) This is the time when it’s customary to - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-january-13-2004/) - Also see new article at: Best of Bill Bonner Best of Mogambo Guru Best of Richard Russell Best of John Mauldin Best of Lance Lewis Best of Bob Bishop Best of David Morgan THE COMING TWO-STAGE PRICE EXPLOSION IN SILVER By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-27-2005/) - The Past As Prologue? By Theodore Butler (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) It’s been a good year for silver and metal investors. In fact, the past few years have been good, - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-13-2005/) - The Test Of Time By Theodore Butler (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Five years can be either a short or a long time, depending upon one’s perspective. To the very young, - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-29-2005/) - TED BUTLER INTERVIEW Cook: We hear a lot about Asian demand for silver. Butler: And for good reason. It appears that Asian demand, particularly from China and India, is impacting every commodity. Cook: How important are these two countries? Butler: They have become the main factor in the world of commodities. I think this is - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-22-2005/) - November 22, 2005 Ted Butler is on vacation. For subscription info please go to www.butlerresearch.com Ted Butler’s Archive - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-15-2005/) - BUTLER’S BULLSEYE The November 8 Wall Street Journal carried an article about the Silver Users Association’s attempt to block the new Silver Exchange Traded Fund proposed by Barclays. They report the same argument that Ted Butler explained in previous articles. He said there wasn’t enough silver available for the fund and any attempt to procure - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-8-2005/) - Wilma, Refco and The NY Times By Theodore Butler (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) It what appear to be annual events, the force of nature made its presence felt in South - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-1-2005/) - Changing Course By Theodore Butler (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) There were an usually large number of news reports and articles that followed the release of my last article, “A Surprise - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-18-2005/) - No column this week. For subscription info please go to www.butlerresearch.com Ted Butler’s Archive - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-11-2005/) - A Surprise Silver Endorsement By Theodore Butler (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The most recent Commitment of Traders Report (COT) indicated continued tech fund buying/dealer short selling in gold and silver. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-4-2005/) - No column from Ted Butler this week. For subscription info please go to www.butlerresearch.com Ted Butler’s Archive - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-27-2005/) - You Can’t Always Get What You Want By Theodore Butler (This essay was written by silver analyst Theodore butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The most recent Commitment of Traders Report (COT) indicated that the tech funds had, effectively, increased - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-20-2005/) - ONLY THE BEGINNING By Theodore Butler The path to long-term investment success is often blocked with formidable obstacles. Perhaps the greatest obstacle is self-created. I believe our own perception of how long we should hold the investment is critical to the outcome. I’m not speaking of short-term timing here, which is relatively unimportant in the - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-13-2005/) - INTERVIEW WITH THEODORE BUTLER (The following interview reflects the opinions of Mr. Butler, and as such, may prove to be right or wrong. Investment Rarities does not necessarily endorse these views.) Cook: In our telephone conversations lately you’ve been more bullish than ever. What gives? Butler: There have been some unusual developments, including warehouse stock - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-6-2005/) - Every Picture Tells A Story By Theodore Butler (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Even though there is almost too much to write about in silver, I have to force myself to - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-august-30-2005/) - THE RARITY OF SILVER By Israel Friedman It’s hard to write an interesting article on silver, because Ted Butler has covered almost everything about silver. But, I am excited about something he touched on recently, because it is something I think about often. I mean the rarity of silver in the future. We know that, - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-august-23-2005/) - Demonizing The COTs By Theodore Butler (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The most recent Commitment of Traders Report (COT) confirmed expectations of a continued deterioration in the market structure in COMEX - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-august-16-2005/) - It Takes Two To Tango By Theodore Butler (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) There were some very significant developments in the world of gold and silver, in terms of the market - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-august-9-2005/) - More To The Picture By Theodore Butler (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) There was quite a bit of price volatility and changes in the market structure for the metals recently, particularly - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-august-2-2005/) - THE GOLD AND SILVER SECRET By Theodore Butler As recent commentaries have suggested, the favorable Commitment of Traders (COT) market structure has resulted in price rallies in gold and silver. While there has been deterioration in the market structure since the Tuesday cut-off in the COT report, with tech fund buying and dealer selling, it - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-27-2005/) - Rather than an article written by Ted Butler, we’re running an article about Ted Butler. SILVER SAVANT By James R. Cook In the summer of 2000 the gold business was slow. I was searching for something new that my customers could make money on. I needed a product that would reenergize the company and make - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-19-2005/) - ANOTHER SET UP By Theodore Butler What has been the most reliable of guides to short term moves in gold and silver, the market structure approach of the Commitment of Traders (COT), continues in its remarkable dependability. Maybe some day we will have to disregard the message of the COTs, but that day has not - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-12-2005/) - YOU DO THE MATH By Theodore Butler Here’s a recent e-mail exchange between a reader and myself. It was in reaction to some of my recent articles that mentioned gold being more abundant than silver. Reader: Are you saying that silver is rarer than gold in absolute terms?… I understand, in terms of silver in the - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-5-2005/) - This memo was distributed to IRI brokers Thursday morning, July 7. See Weekly Commentary following this bulletin. July 6, 2005 To: All Brokers From: Ted Butler In a conversation with Jim Cook today, he suggested that what I was thinking was so important that I should put my thoughts in writing. I think we have - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-28-2005/) - THE COMING SILVER ETF? By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) There has been much commentary recently concerning a prospective silver Exchange Traded Fund (ETF), culminating with the announcement that Barclays had - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-21-2005/) - SAME OLD SONG? By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) As discussed previously, the market structure in silver, as defined by the Commitment of Traders Report (COT), remains in a high-risk state. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-14-2005/) - INTERVIEW WITH SILVER ANALYST THEODORE BUTLER Theodore (Ted) Butler must certainly be the foremost silver analyst of our time. Not only is he a pioneering thinker on the subject of silver, he is also way ahead of the curve with what’s happening in the silver market. Many of his ideas are original and new. It’s - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-7-2005/) - Off The Hook? By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) As foretold by the structure of the market, as defined by the Commitment of Traders Report (COT), we have now witnessed meaningful - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-31-2005/) - Who’s In Charge? By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) First, a quick word on the structure in various markets, as defined by the Commitment of Traders Report (COT), and then a - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-24-2005/) - All In By Theodore Butler “The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The most recent Commitment of Traders Report (COT) confirmed the continued powerfully bullish market structure in COMEX silver. For three weeks running, the - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-17-2005/) - The Bottom Of The Barrel By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Developments in the current market structure, as defined by the Commitment of Traders Report (COT) require comment. Extrapolated through today, - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-10-2005/) - $5 Silver Returns By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) For several years, I had the very good fortune to have been able to write many articles that laid out my case - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-3-2005/) - Seven Equals Five By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) I’m trying to avoid the short-term analysis of price movements. However, the recent swoon in the price of silver by some 40 - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-25-2005/) - Silver 101 By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Investment Rarities President, Jim Cook recently informed me that he was mailing his letter to many new readers. Readers who were not familiar - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-19-2005/) - No Mistake By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The latest Commitment of Traders Report (COT) in gold has generated great interest, and for good reason. The numbers are out of line - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-12-2005/) - A Digital Bombshell By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) For the past few years, the main bearish argument against silver has been the encroachment of the digital process in photography. Particularly - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-5-2005/) - SILVER, SILVER, EVERYWHERE By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The latest Commitment of Traders Report (COT) indicates a continued improvement in silver, on the roughly 50-cent decline in price from the - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-29-2005/) - Ted Butler is under the weather this week. Ted Butler’s Archive - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-22-2005/) - None So Blind By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The latest Commitment of Traders Report (COT) showed a very sharp increase in the net dealer short position in gold, of more - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-15-2005/) - CRIMINAL INTENT By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The most recent Commitment of Traders Report (COT) indicated continued deterioration, with increased tech fund and speculative buying and dealer short selling in - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-8-2005/) - THE COMING SILVER ACCIDENT By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Perhaps “accident” may not be the precise word to describe what I see coming in silver. After all, Webster’s defines accident - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-february-22-2005/) - February 22, 2005 WHERE’S YOUR SILVER? By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Most of the time my message has been to explain the silver manipulation and encourage you to buy silver - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-february-15-2005/) - IMAGINATION By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Because silver is such a fascinating topic, there is a strong force that pulls us to focus on it on a daily basis. This - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-february-8-2005/) - Break On Through To The Other Side By Theodore Butler (The following essay was written by silver analyst Theodore Butler. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) First, a few words about the latest Commitment of Traders Report (COT). In silver, there were no surprises, - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-february-1-2005/) - Update and Another Interview By Theodore Butler The latest Commitment of Traders Report (COT) indicated a continued improvement in the market structure for gold and silver. This is the third consecutive weekly improvement in the COTs since the bottom in early January. In gold, the dealers have reduced their net short position in COMEX futures - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-january-3-2006/) - Lessons Learned? By Theodore Butler (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Just this morning, my wife informed me that she just had a telephone conversation with an old friend who passed along - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-january-17-2006/) - Silver Review By Israel Friedman (Mr. Friedman is one of Ted Butler’s mentors. His opinions are not necessarily endorsed by Investment Rarities.) It was not a bad year for silver investors. A 30% increase in prices makes you feel good. In my opinion, silver is as good an investment today as it was a year - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-january-24-2006/) - Too Soon For The Last Rites? By Theodore Butler (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) It has been a while since I have written about the market structure in gold and silver, - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-january-31-2006/) - A Slam Dunk? By Theodore Butler (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) There has been much recent speculation that the Barclay’s Silver ETF is about to be approved by the Securities and - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-february-21-2006/) - Hit With The Stupid Stick Again By Theodore Butler (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The biggest advantage of being an independent analyst is not having to worry about disturbing relationships which - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-february-28-2006/) - CONFIRMATION By Theodore Butler (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Almost two months ago, I wrote about Barrick Gold’s large gold short position and growing hedge book losses, before their quarterly and - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-14-2006/) - TED BUTLER INTERVIEW Cook: At this moment the Exchanged Traded Fund or ETF in silver has not been approved by the SEC. Do you think it will be approved soon? Butler: I don’t think anyone knows when, or if, the ETF will be approved. But the more I think about it, this silver ETF issue - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-21-2006/) - Best-selling author Howard Ruff recently wrote about Ted Butler and silver in his newsletter. The article follows. THE MARKETS: SILVER LININGS By Howard Ruff “Sixty years ago there was roughly five times as much silver as gold above the ground. Today there is five times more gold than silver.” “You should sell gold and buy silver.” “We - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-28-2006/) - SIGNED, SEALED, DELIVERED? By Theodore Butler (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) There are many positive recent developments in the silver market. The most noteworthy is the approval by the Securities and - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-4-2006/) - WHAT HAPPENS AT $100 SILVER? (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) I’m going to depart from my normal message today, namely, the long and short-term investment case for silver. Instead, I am - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-20-2006/) - November 20, 2006 Ted Butler is on vacation this week. For subscription info please go to www.butlerresearch.com Ted Butler’s Archive - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-13-2006/) - Us And Them (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) For the past month or two, I have written about how the market structure in silver and gold, as depicted by the Commitment - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-7-2006/) - Ted Butler is taking a hiatus this week. We are instead running this essay by James Cook about Ted Butler. Mr. Butler claims the price of silver must inevitably go to dramatically higher price levels. He’s talking about five or even ten times current prices. His arguments are powerful and compelling, especially since he’s been - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-31-2006/) - A Red Flag? (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The good news is that the price of gold and silver has advanced, as expected, due to the washed-out Commitment of Traders (COT) - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-24-2006/) - The Real Gold/Silver Ratio Part II By Theodore Butler (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) I’d like to continue on a theme I wrote about last week, namely, attempting to uncover the - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-16-2006/) - RELATIVITY (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) One of the soundest money principles is relative value. The true value investor is always on the hunt for that which offers the best intrinsic - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-10-2006/) - SILVER FOR THE OPTIMIST, GOLD FOR THE PESSIMIST By Israel Friedman (Israel Friedman is a friend and mentor to Theodore Butler. Mr. Friedman has owned and studied silver for 30 years. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct. Silver can go up and silver can - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-3-2006/) - Extreme Liquidation (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The current market structure in both gold and silver, according to the Commitment of Traders Report (COT), is excellent. That’s one of the benefits - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-26-2006/) - Concentration The big market news for the week was the sudden and shocking blowup of the large hedge fund, Amaranth Advisors. In little more than a week or two, the fund reportedly lost $6 billion, or 65% of its capital, making it the largest derivatives loser in history, principally as a result of bad natural - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-spetember-18-2006/) - You Make The Call (Theodore Butler is an independent consultant and silver analyst.) This article answers the CFTC’s response to the articles and letters sent to them alleging manipulation in the silver market. My allegations were based upon evidence provided by the CFTC itself in its weekly Commitments of Traders Report (COT). It showed a - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-spetember-11-2006/) - BLATANT MANIPULATION (This essay was written by silver analyst Theodore butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) In a holiday-shortened Labor Day week, the concentrated short sellers attacked gold and silver with a vengeance. Gold broke out earlier in the week, - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-5-2006/) - Gold – GATA – and the COT By: Ed Steer & Ted Butler One of the most pleasant side effects of being involved in the ongoing process of exposing the gold and silver market price manipulation to the naked light of day is the quality of the people who I have met on this journey. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-august-29-2006/) - INTERVIEW WITH TED BUTLER Cook: You’ve been predicting a price explosion in silver. I’ve never heard any other analyst make that kind of prediction about a commodity. Would it be fair to accuse you of irrational exuberance? Butler: It would be fair to accuse me of being exuberant about the prospects for silver, but whether - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-august-21-2006/) - First Nickel, Then Silver? (This essay was written by silver analyst Theodore butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) This past week, the investment world witnessed an event that has only occurred rarely in the past. I am referring to the - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-august-15-2006/) - BETTER THAN EVER We have just completed a new interview with Mr. Butler which will be available on the Internet after it has been disseminated to our clients. We are publishing instead an article by Mr. Butler which was distributed to our clients several weeks ago. (This essay was written by silver analyst Theodore butler, - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-august-8-2006/) - A BLIND MAN’S WORLD (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) I can’t remember the first time I heard it, or who might have said it, but it’s a thought I’ve pondered for - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-25-2006/) - Locked And Loaded By Theodore Butler (This essay was written by silver analyst Theodore butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The most recent Commitments of Traders Report (COT) indicates no real change in silver, but some pretty notable changes in - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-18-2006/) - PHYSICAL SILVER YES, SPECULATION NO By Israel Friedman (This very bullish opinion was written by silver enthusiast Israel Friedman, age 73, a friend and mentor to Theodore Butler. Mr. Friedman has owned and studied silver for 30 years. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct. - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-10-2006/) - Shorts To CFTC: Drop Dead (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Old-timers (yes, I’m one) will know the title of this article is a play on the famous headline, 30 years ago, - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-5-2006/) - The Road Ahead Just this week, the Commodity Futures Trading Commission (CFTC) filed manipulation charges. No, not concerning the COMEX silver market, but in propane, where they charged a subsidiary of BP, the giant oil company, with manipulating the physical propane market, back in 2003 and 2004. In its press release, this is what the - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-5-2006/) - Proving The Silver Manipulation Again (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Over the past ten years, I have argued that silver has been manipulated in price. One of my goals for writing - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-30-2006/) - Facts and Speculation (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Usually, I much prefer to write about silver on a long-term basis, as I am convinced that is the only real way the - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-23-2006/) - INTERVIEW WITH TED BUTLER Cook: We’re starting this interview with silver off sharply from its $15.00 high. How long can this go on? Butler: Generally, the sharper any move, the quicker it exhausts itself. So I would say this sell-off won’t last long in time. Cook: How low could it go? Butler: I’d be surprised - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-17-2006/) - The Final Wash Out? (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) It is truly amazing how much silver–related news and price volatility have been generated lately. Because of that I find myself, once - [BEST OF JIM COOK](https://www.investmentrarities.com/best-of-jim-cook-june-12-2018/) - CAPTAIN COOK On the several occasions that I’ve checked into a hotel in Vancouver the clerk giggled when I gave my name. That’s because Captain James Cook (1728-1777) discovered Vancouver Island (as well as Hawaii and New Zealand). A statue of Captain Cook exists in downtown Vancouver and most everybody in British Columbia knows of - [TED BUTLER COMMENTARY](https://www.investmentrarities.com/ted-butler-commentary-june-12-2018/) - GREAT FRAUDS REQUIRE DARKNESS No doubt you’re aware of the massive fraud recently uncovered at Theranos, the high tech medical startup purported to be able to run any number of diagnostic tests from a single drop of blood. Theranos was a Silicon Valley startup valued at $10 billion at its peak and headed by an - [Best of Jim Cook](https://www.investmentrarities.com/best-of-jim-cook-may-30-2018/) - SILVER SUPPRESSION AS A PRICE CONTROL It’s been a long dry spell for those of us who own silver. We can bemoan the fact that silver has tried our patience or we can look for something positive coming out of this lengthy period of depressed prices. Silver analyst Theodore Butler has proven conclusively that heavy - [TED BUTLER COMMENTARY](https://www.investmentrarities.com/ted-butler-commentary-may-30-2018/) - THE PHYSICAL SILVER PERSPECTIVE The only component of world silver production or consumption that has ever influenced price is investment demand. If silver is destined to truly run up in price again (as I believe to be the case), then that can only come from a surge in investment demand. The world produces close to - [TED BUTLER COMMENTARY](https://www.investmentrarities.com/ted-butler-commentary-may-15-2018/) - WIDE AWAKE I awoke on Wednesday night from a nightmare about a margin call on silver because I couldn’t find the order ticket on which I bought protective put options. It was all a dream because I’ve never held silver on margin. Unable to fall back to sleep, I started to think about that day’s - [TED BUTLER COMMENTARY](https://www.investmentrarities.com/ted-butler-commentary-may-1-2018/) - SILVER SCANDAL A year ago, I wrote James McDonald, the newly installed Director of the CFTC’s Enforcement Division. I made special note in my letter of the role JPMorgan played in the silver manipulation since acquiring Bear Stearns, including that JPMorgan had never taken a loss, only profits every time it added new short positions - [TED BUTLER COMMENTARY](https://www.investmentrarities.com/ted-butlers-commentary-april-5-2018/) - NEW KID ON THE BLOCK It was totally unexpected, but the big commercial bank Goldman Sachs took delivery on 2400 contracts in March COMEX futures. This represents 12 million ounces of physical silver. You can count on one hand the number of times larger monthly deliveries have been taken by any one firm for its - [TED BUTLER COMMENTARY](https://www.investmentrarities.com/ted-butler-commentary-march-22-2018/) - JPMORGAN’S MOTIVATION There are many who dismiss, out of hand, my allegation that JPMorgan has accumulated 700 million ounces or more of physical silver over the past seven years. That’s completely understandable, since I can’t document and point out all 700 million ounces. It doesn’t matter that I first picked up on JPMorgan’s quest to - [TED BUTLER COMMENTARY](https://www.investmentrarities.com/ted-butler-commentary-march-8-2018/) - NO MANIPULATION AFTER ALL? The best way of determining whether there is anything wrong in silver is to do a controlled experiment by removing it from the equation (along with any mention of JPMorgan) and substitute any other world commodity or entity in its place. In other words, would it be outrageously illegal or no - [TED BUTLER COMMENTARY](https://www.investmentrarities.com/ted-butler-commentary-february-16-2018/) - THE SILVER INVESTOR’S BEST FRIEND In the investment world, the most important consideration is valuation. Determining whether an asset is fairly valued, overvalued or undervalued is the single most critical issue for an investor. Assets that are undervalued or overvalued can remain in that state for extended periods of time, but history suggests a much - [TED BUTLER COMMENTARY](https://www.investmentrarities.com/ted-butler-commentary-february-2-2018/) - NO MATTER WHAT HAPPENS – IT LOOKS GOOD FOR SILVER Almost everything that happens in the future of the world’s finances seems destined to cause the price of silver to rise sharply. Sound farfetched? Hear me out. Let’s say stocks continue to rise and stock market valuations add many more trillions to the equity markets. - [TED BUTLER COMMENTARY](https://www.investmentrarities.com/ted-butler-commentary-january-19-2018/) - THE LAST GREAT SILVER BUY In the annals of silver in the modern age, there have been two well-known instances of very large investor accumulations of the metal. First came the purchase by the Hunt brothers and their associates in early 1980, followed by the purchase by Warren Buffett’s Berkshire Hathaway 17 years later. The - [TED BUTLER COMMENTARY](https://www.investmentrarities.com/ted-butler-commentary-january-3-2018/) - A TEN YEAR DEAL? Here’s a thought that I fully acknowledge didn’t originate with me, but from a close associate, even though it incorporates many of my findings. If it does come to fruition, I will gladly reveal my associate’s identity to give him his proper due; but in case it doesn’t, I’ll spare him - [TED BUTLER COMMENTARY](https://www.investmentrarities.com/ted-butler-commentary-december-19-2017/) - BIG CHANGE I’d be hard pressed to make up a more bullish market structure than what was published in this week’s (December 16) Commitment of Traders Report. JPMorgan has dramatically reduced their short position by 15,000 contracts or the equivalent of 75 million ounces. They were short 40,000 contracts only a few weeks ago, or - [TED BUTLER COMMENTARY](https://www.investmentrarities.com/ted-butler-commentary-december-4-2017/) - PRESSURE IS BUILDING I sense that pressure is building in the pricing mechanism and structure of the silver market. My main indicator of pressure lies in the current positioning of the managed money traders (hedge funds) against the commercials (big banks) in COMEX silver futures contracts. There must be some type of resolution to the - [TED BUTLER COMMENTARY](https://www.investmentrarities.com/ted-butler-commentary-november-22-2017/) - LIFE UNDER MANIPULATION We as individuals have little or no control over the state of markets; all we can do is adapt to market realities. In the case of silver, the reality is that it is in the grip of a price manipulation. History shows that various world governments have often artificially set the price - [TED BUTLER COMMENTARY](https://www.investmentrarities.com/ted-butler-commentary-november-6-2017/) - COMPARISONS Capitalization is a fancy word to measure what various markets are worth in total dollar terms. The computation itself is simple enough; just multiply the current price by how much exists. To get the market capitalization of a company’s stock, multiply the price times the shares that exist. Such total values are important for - [TED BUTLER COMMENTARY](https://www.investmentrarities.com/ted-butler-commentary-october-23-2017/) - BACKING OUT News reports this week indicated that the Bank of Nova Scotia (ScotiaBank), Canada’s third largest bank, had put its precious metals operation, ScotiaMocatta, up for sale. Various sources said the unit had been for sale for a year or so and it was thought or hoped that Chinese interests might buy the business. - [Best of Jim Cook](https://www.investmentrarities.com/best-of-jim-cook-march-22-2018/) - JPMORGAN CHASE AND COMPANY JPMorgan plans to build a 70-story office building in Manhattan. Their current 56-story unit will be demolished to make way for the $3 ½ billion dollar project. According to one silver analyst, if JPMorgan owns 700 million ounces of silver, a $5 price rise in the price of silver would pay - [Best of Jim Cook](https://www.investmentrarities.com/best-of-jim-cook-april-5-2018/) - GOOD PEOPLE In 1984, I paid to bring two groups of six kids from Ethiopia to get their hearts fixed. The necessary surgery was too complicated for Ethiopian hospitals. They were weak and sick when they arrived and the prognosis was not good. Ten days after their surgery they were racing around the hospital and - [Best of Jim Cook](https://www.investmentrarities.com/best-of-jim-cook-april-20-2018/) - MONETARY QUAGMIRE It was the British economist John Maynard Keynes who wrote that a recession or depression should be cured by a burst of government spending. The resulting budget deficit could be offset later when the economy improved. That’s what the Federal Reserve is trying to do now, reduce the stimulus. I’m sure Keynes never - [Best of Jim Cook](https://www.investmentrarities.com/best-of-jim-cook-august-5-2017/) - LAND OF 10,000 FLAKES Like many large cities, the Minneapolis city government is run by extreme leftists. The city council recently wrote Jamie Dimon, the president of JPMorgan to insist that he resign from Donald Trump’s business council. They also demanded that JPMorgan stop financing private prisons. What any of this has to do with - [Best of Jim Cook](https://www.investmentrarities.com/best-of-jim-cook-may-15-2018/) - DECOY DAYS Last week I flew to Chicago for the National Decoy Collectors show. It’s held every year at Pheasant Run, a down-at-the-heels resort in St. Charles, Illinois. I’ve been collecting antique waterfowl decoys for almost 40 years. These artifacts were used by hunters to lure in ducks and geese. To be valuable they have - [TED BUTLER COMMENTARY](https://www.investmentrarities.com/ted-butler-commentary-october-10-2017/) - WHERE’S THE SILVER SHORTAGE? The other day, I was asked what happened to the physical silver shortage I’ve been talking about for decades. Considering how much time has passed by with no shortage, it is more than a fair question. I’m still convinced about the inevitability of a physical silver shortage and it still remains - [TED BUTLER COMMENTARY](https://www.investmentrarities.com/ted-butler-commentary-september-20-2017/) - INTERVIEW Cook: Are you disappointed with the recent price action in silver? Butler: Of course, I thought we might finally be breaking out. Cook: What happened? Butler: It’s the same old story. As I outlined, we were set up for a strong rally at the recent lows, but whether the rally was of the now-typical - [TED BUTLER COMMENTARY](https://www.investmentrarities.com/ted-butler-commentary-september-5-2017/) - SILVER What has occurred over the past six years has created a unique circumstance strongly suggestive of much higher silver prices. Because prices advanced sharply for all other assets, while silver and gold fell, precious metals are deeply underpriced relative to everything else. Because stock markets are so high relative to precious metals, it would - [TED BUTLER COMMENTARY](https://www.investmentrarities.com/ted-butler-commentary-august-19-2017/) - JPMORGAN – AT IT AGAIN JPMorgan increased the amount of silver in its COMEX warehouse by more than 1.5 million ounces to just under 115.5 million ounces, another new high. No one can dispute that JPMorgan has corralled more silver in its COMEX warehouse than anyone else, but this is just the tip of the - [TED BUTLER COMMENTARY](https://www.investmentrarities.com/ted-butler-commentary-july-21-2017/) - SILVER SELL-OFF We’ve experienced the mother of all selloffs in silver, in both positioning and price, and this will most likely result in the price explosion I began focusing on two months ago. The futures contract positioning changes explain why silver prices have been smashed, but they also set up the price explosion to come. - [TED BUTLER COMMENTARY](https://www.investmentrarities.com/ted-butler-commentary-august-5-2017/) - SHORT COVERING? For the week ending July 14th there were unexpectedly large metal deposits into the big silver ETF, SLV (the world’s largest visible physical silver holding). More than 9.5 million ounces have been deposited in the trust in the past few weeks. This is strange because, as you know, the price of silver has - [Best of Jim Cook](https://www.investmentrarities.com/best-of-jim-cook-march-8-2018/) - DOUBLING DOWN I never cease to be amazed at the level of indifference most investors have to the inflationary policies of the government and its central bank. As long as the stock market goes up, nothing else matters to them. Hardly anyone hedges against a crash and most investors are fully committed to equities no - [Best of Jim Cook](https://www.investmentrarities.com/best-of-jim-cook-february-16-2018/) - THE BIG ONE The possibility always exists that a stock market decline, a jump in interest rates, or a weakening dollar can lead to something worse. The first reason to own silver or gold is the potential for an unmanageable financial crisis. The second reason is hopefully to make a lot of money. For sure - [Best of Jim Cook](https://www.investmentrarities.com/best-of-jim-cook-february-2-2018/) - LEFT OR RIGHT The left in this country likes to link conservatives and libertarians to fascism. They utter warnings about what happened in Nazi Germany happening in America. They also advance the argument that the Nazis were right wingers and foes of socialism. This, despite the fact the German fascists called themselves National Socialists. Conservative - [Best of Jim Cook](https://www.investmentrarities.com/best-of-jim-cook-january-19-2018/) - PRUDENCE The word prudence means the quality of being prudent or cautious. It’s synonymous with good judgment, wisdom, common sense and shrewdness. It means to show care and thought for the future. Prudence especially applies to investments and the things you do with your money. One measure of prudence would be paying attention to historical - [Best of Jim Cook](https://www.investmentrarities.com/best-of-jim-cook-january-3-2018/) - MISSING THE TRAIN Since I believe silver is the best possible thing you can own, I find it frustrating that most people know nothing about it and will never buy it until it’s too late. For example, at my winter home in Florida I know a lot of people, but none of them ask about - [Best of Jim Cook](https://www.investmentrarities.com/best-of-jim-cook-december-19-2017/) - OLD TIME RELIGION I go back and forth in winter to a small island in southwest Florida. Peak population on Gasparilla Island is 4,500 during winter. The small village on the island is named Boca Grande and that’s the name this barrier island goes by. This summer we were sweating bullets as hurricane Irma seemed - [Best of Jim Cook](https://www.investmentrarities.com/best-of-jim-cook-december-4-2017/) - ROLLOVER When I was 19 years old, a friend gave me a copy of a book entitled Think and Grow Rich by Napoleon Hill. This volume stresses a positive attitude in order to succeed in business. It conveys a message that financial success comes through service to others. Over the past 44 years that we’ve - [Best of Jim Cook](https://www.investmentrarities.com/best-of-jim-cook-november-22-2017/) - NO ESCAPE Forty-five years is a long time to preach about the inevitability of runaway inflation without it happening. Most assuredly we have experienced the booms and bust the Austrian School warns will accompany credit excess. Yet, the severe inflation that makes our financial affairs completely unmanageable remains at bay. Certainly we’ve had inflation. The - [Best of Jim Cook](https://www.investmentrarities.com/best-of-jim-cook-november-6-2017/) - MISES REVISITED The great economist Ludwig von Mises was 40 years old when he lived through the great inflation of the Weimar Republic in 1921. This economic tragedy wiped out the savings of the German people. This inflation gave impetus to the Nazis, a fringe movement of extremists at the time. Mises observed Hitler’s rise - [Best of Jim Cook](https://www.investmentrarities.com/best-of-jim-cook-october-23-2017/) - HUBRIS As the stock market streaks higher and higher it’s easy to believe it will continue to rise indefinitely. In fact, it’s impossible to persuade wealthy people, who employ asset managers that anything can go wrong. They have always seen the market come back no matter how steep the correction. Too much success breeds arrogance - [Best of Jim Cook](https://www.investmentrarities.com/best-of-jim-cook-october-10-2017/) - BLACK AND WHITE Liberals have a powerful weapon in the media. They use it to disparage conservatives and often accuse them of racism. If you voted for Trump, you are a racist. We hear terms like white privilege and institutional racism to describe why some minorities are disadvantaged. In other words, it’s not their fault. - [Best of Jim Cook](https://www.investmentrarities.com/best-of-jim-cook-september-20-2017/) - INTERVIEW WITH THEODORE BUTLER Cook: Are you disappointed with the recent price action in silver? Butler: Of course, I thought we might finally be breaking out. Cook: What happened? Butler: It’s the same old story. As I outlined, we were set up for a strong rally at the recent lows, but whether the rally was - [Best of Jim Cook](https://www.investmentrarities.com/best-of-jim-cook-september-5-2017/) - DONALD TRUMP CAN’T SAVE YOU Don’t get me wrong. I voted for Mr. Trump and I like what he is doing. We have been going socialistic for a hundred years. The left has had its way. Liberal policies have been implemented in every administration including Reagan and Bush. Mr. Trump is the first president who - [Best of Jim Cook](https://www.investmentrarities.com/best-of-jim-cook-july-21-2017/) - TAXING Forty years ago, I threw my checkbook away and I’ve never had one since. One summer evening in 1976 at about 7:30 p.m. two young men in suits knocked on my door. They said they were from the Internal Revenue Service and they would like to talk to me. I invited them in and - [Best of Jim Cook](https://www.investmentrarities.com/best-of-jim-cook-may-1-2018/) - BURSTING BUBBLES The government’s inflation figures always seem much lower than reality. Years ago the labor department implemented quality adjustments and hedonic pricing that lowered inflation rates. If inflation is low then where did all the new money and credit go? For one thing it went into the financial markets and boosted asset prices. Unprecedented - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-31-2007/) - THE BEST STOCK IN THE WORLD (This article was originally written in early October by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) When it comes to investing, there are only a few broad asset classes from which to - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-18-2007/) - More CFTC Speculation (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) I’d like to discuss more fully, last week’s letter from Commissioner Bart Chilton concerning the allegations raised by me, and many of you, - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-10-2007/) - The Cop On The Beat – Part III Here’s the latest communications between Commodity Futures Trading Commissioner Bart Chilton and myself: December 7, 2007 Dear Mr. Butler: Thank you for continuing our correspondence regarding the silver markets. I did want to follow-up one more time – for what it is worth. I’ve continued to have - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-3-2007/) - A Beautiful Idea Today, I am publishing two articles by my good friend and mentor, Israel Friedman, Long-time readers are probably aware that I consider Izzy the most intelligent man I know. For newer readers unaware of his background, Izzy immigrated to this country some thirty-odd years ago, became a citizen and raised a family - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-27-2007/) - Sheer Speculation? (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Usually, I try to confine my writings to bedrock facts and figures. Things that can be documented and verified. That way, I am less - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-20-2007/) - The Cop On The Beat – Part II Here is the response I received from my letter to CFTC Commissioner Bart Chilton, followed by my reply to him; November 19, 2007 Thank you for your email regarding the silver markets. I appreciate hearing from you. As an independent regulator, I take all communications concerning - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-13-2007/) - The Cop On The Beat November 13, 2007 The Honorable Bart Chilton Commissioner US Commodity Futures Trading Commission Three Lafayette Centre 1155 21st St, NW Washington, DC 20581 Dear Commissioner Chilton; It was refreshing to read your speech of November 6 in Memphis, before the American Public Gas Association, titled, “The Cop on the Beat - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-6-2007/) - INTERVIEW WITH TED BUTLER Cook: Any chance the big gold and silver short sellers will be overrun here and send prices to the moon? Butler: There’s always a chance of that. And while that chance is perhaps greater than before, given the general stress that banks and dealers are under due to the credit crisis, - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-29-2007/) - A Simple And Constructive Solution In the waning days of the Cold War, the late President Ronald Reagan, in arms negotiations with the Soviets, often repeated the phrase, “Trust, but verify.” Rather than insult someone by suggesting that you don’t believe him, it was a nice way of saying, we believe you, but we’d like - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-23-2007/) - MONEY FOR NOTHING (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) On September 24, a Federal Judge in New York heard final oral arguments in the class-action settlement between Morgan Stanley and 22,000 of - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-16-2007/) - Rope-A-Dope? (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) By now, even casual observers of the Commitment of Traders Report (COT) are aware that we are at record extremes in the COMEX gold futures - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-2-2007/) - Looking Back, To See Ahead (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) As expected, there was severe deterioration in the COMEX gold market structure as the price powered higher, pushing the commercial net - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-25-2007/) - Still Extreme (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The unprecedented disparity between the respective market structures in COMEX gold and silver continues. The most recent Commitment of Traders Report (COT), for positions - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-18-2007/) - DIFFERENT PATTERNS (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The most recent Commitment of Traders Report (COT) confirmed the continued deterioration in gold, with tech fund and speculative buying versus further dealer short - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-11-2007/) - Stir It Up (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) A few comments before I print a discussion I had with my friend Israel Friedman some weeks back. Once again, the bullish COT - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-4-2007/) - Actions Speak Louder Than Words In a surprisingly bullish development, the latest Commitment of Traders Report (COT) recorded a shocking further improvement in COMEX silver futures. For the week ending August 28, the dealers bought heavily again, as large speculators sold aggressively. There was some deterioration in gold, but we are still in COT territory - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-august-28-2007/) - The Royal Scam The most recent Commitment of Traders Report (COT) confirmed the epic clean out of speculators in silver and gold, and a host of other commodities in the dramatic sell-off centered on Thursday, August 16. The COT, for positions held as of August 21, indicated dramatic speculative selling and commercial buying in gold - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-august-21-2007/) - Fighting Back Make no mistake, the intent of the recent silver sell-off, was to liquidate as many leveraged traders as possible. It not only applied to silver, but many other commodities and currencies. A quick review of the Commitment of Traders (COT) market structure in the markets involved shows that whatever side the large non-commercial - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-august-14-2007/) - Amid The Turmoil, A Great Set Up (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) It’s no secret we have been experiencing highly unusual financial market developments. I can’t recall a time when the - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-31-2007/) - An Ugly New Record (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The possibility of a sell off in gold and silver caused by the deterioration in the market structure, as indicated in last - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-24-2007/) - Still The Same (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The recent sharp rallies in the price of gold and silver have confirmed, once again, the importance of the market structure approach to - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-17-2007/) - THE PRINCIPLE OF SUBSTITUTION (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) We are all familiar with the concept of substitution. This principle holds that, given no dramatic fall-off in quality, it is rational - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-10-2007/) - As Good As It Gets? (This essay was written by silver analyst Theodore butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The most recent Commitment of Traders Report (COT), for positions held as of July 3, contained some surprisingly bullish data for - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-3-2007/) - SELL OFFS MAKE YOU THINK By Israel Friedman (Izzy Friedman is a friend and mentor to Theodore Butler. He has followed silver for many decades. He has written articles for us in the past. Investment Rarities does not necessarily endorse these views.) My good friend, Mr. Butler, thought it was a good time for me - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-26-2007/) - Blood From A Stone (This essay was written by silver analyst Theodore butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The more deeply you study something, the more you should come to know about that subject. When the subject is complex, like - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-19-2007/) - The Raptors Rule Less than one month ago, I started writing about the Raptors, which I defined as those smaller silver (and gold) traders in the large reporting commercial category of the Commitments of Traders Report (COT), other than the 8 largest traders. I advanced a theory that suggested these smaller commercial traders were now - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-12-2007/) - JIM COOK INTERVIEWS THEODORE BUTLER “Beware when the great God lets loose a thinker on this planet. Then all things are at risk. It is as when a conflagration has broken out in a great city, and no man knows what is safe, or where it will end. There is not a piece of science, - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-5-2007/) - It’s Alright, Ma (I’m Only Bleeding) Additional confirmation continues to roll in concerning the changing nature of the price-setting struggle between the dealers and the tech funds in COMEX gold and silver. Recently, I have taken to using analogies to the dinosaur world, writing about T. rex’s, raptors and their food supply, the plant-eating tech - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-29-2007/) - Raptor Update (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) In last week’s article, The Raptors, I described how that term applied to the smaller commercials that seemed to be outmaneuvering the largest commercial - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-22-2007/) - THE RAPTORS (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) I’d like to report on a profound new development in the silver market. It’s a development that has been over a year in the - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-1-2007/) - AN OPPORTUNITY STILL AVAILABLE (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Back in October, I wrote an article entitled “The Real Gold/Silver Ratio Part II.” In that article, I introduced some new data concerning - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-24-2007/) - The following essay is an excerpt from the Late April Market Update which is being distributed to Investment Rarities clients. INCREASING COMEX INVENTORIES (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) As happens periodically, - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-3-2007/) - THE EXCELLENCE OF SILVER (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) I write today about investments in general. But I want to make it clear that I am not intending to offer personal - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-27-2007/) - The Long Term (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Short-term volatility should have little bearing on the long-term silver investors, save to allow low-risk buy points. The volatility at $13 or $14, - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-20-2007/) - After The Deficit (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) I receive a number of e-mails and letters from readers who ask really good questions and raise legitimate points. I apologize for not - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-13-2007/) - BACK TO THE FUTURE REVISITED This article was written a number of weeks ago and has been distributed to IRI clients. (This essay was written by silver analyst Theodore butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Choosing which previously written articles - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-february-26-2007/) - Keeping It Simple (This essay was written by silver analyst Theodore butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) I hadn’t planned to write this week, but market developments were dramatic enough to warrant some commentary. Since my recent articles concerned potential - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-february-12-2007/) - Time Frames (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Investment cycles, like all things in life, run in both short-term and long-term time frames. I’ll define short term as days, weeks and months, - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-january-30-2007/) - Ted Butler’s current article is somewhat controversial. You can access it at: http://www.butlerresearch.com/buyerbeware.html Ted Butler’s Archive - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-january-16-2007/) - CHANGING OF THE GUARD? (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The King Is Dead… Long Live The King. Perhaps it is too soon to utter those words definitively, but there appears to - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-january-9-2007/) - THE LOGIC OF SILVER By Israel Friedman (Israel Friedman is a friend and mentor of Theodore Butler. Mr. Friedman has owned and studied silver for 30 years. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct. Silver can go up and silver can go down.) Too few - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-january-2-2007/) - REFLECTIONS (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) At this time of year, it is natural to analyze and review. In addition to normal year-end reflections, I find myself especially contemplative as I - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-30-2008/) - A Recent Email Exchange The following is a recent email exchange between a reader and Commissioner Bart Chilton. The last message is an email from me to the reader (with a copy to Commissioner Chilton). I have removed any personal identification of the reader. To my knowledge, the Commissioner sent this same response to a - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-22-2008/) - More Evidence Of Manipulation (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Three months have elapsed since the CFTC began its latest investigation into an alleged manipulation in the COMEX silver market. This is - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-8-2008/) - Delaying Tactics Here’s a quick follow-up to last week’s comment about the CFTC sending out form letters to me and many of you asking for specific evidence about a manipulation in silver prices. A number of you asked me how to respond. Before you respond, it is important to understand what the Commission is trying - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-2-2008/) - (A blockbuster interview with Ted Butler will be up next Tuesday after it’s been mailed to IRI clients.) COT Extremes (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) It’s been a while since I - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-25-2008/) - Beyond Taxation Without Representation (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The words go to the essence of what is just and unjust. Of what is acceptable and unacceptable. The slogan, “no taxation - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-18-2008/) - A SURE THING? (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The financial world is changing more quickly and radically than any of us has previously experienced. Unfortunately, losing money has become easy. At - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-10-2008/) - THE REAL STORY (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) There is compelling new proof of a silver (and gold) price manipulation. The evidence connects the investment bank JP Morgan Chase, the dominant - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-27-2008/) - A Shock To The System? (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) In a moment, I’d like to describe a new development in silver that should prove quite bullish to the price, but - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-20-2008/) - The Silver Rush Is On At the beginning of this year, I wrote an article predicting a coming investment boom in silver. That investment boom has commenced and is intensifying. So strong is this silver investment boom, that it has even surprised me, although this was exactly my prediction. In the ten months since my article - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-13-2008/) - The Masters Of Destruction (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) On Friday, October 10, the price of silver crashed, falling almost 25% from its price level 24 hours earlier. It is down - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-7-2008/) - AN EXCEPTIONAL OPPORTUNITY (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) When fear and emotion run high, as they presently do, it often creates exceptional profit opportunities. In other words, when everyone is running - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-29-2008/) - Meet The New Boss, Same As The Old Boss? (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) It’s hard to imagine now, but there were times when I worried about having anything fresh to - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-23-2008/) - Time Out or About Time? (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The unprecedented financial crises have given way to extraordinary proposed solutions. Some leave me skeptical, such as the government throwing unimaginable - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-16-2008/) - Welcome To The Jungle (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Financial developments are occurring so quickly that last week’s “warp speed” comment seems slow. These are truly unprecedented times. I think it’s - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-9-2008/) - The Speed Of Sound (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Financial and market developments seem to be rushing by at unworldly speed. Government bailouts, unprecedented market turmoil, non-stop conflicting commentary. It’s hard - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-2-2008/) - Fact Versus Speculation (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) What’s happening in the silver and gold markets is, without a doubt, the most sordid scheme in the history of finance. It makes - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-august-18-2008/) - The Lessons of a Lifetime (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) In order to understand where you may be going, it is important to understand where you have been. Nowhere is this - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-august-4-2008/) - Paper Selling, Physical Buying (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Recent data confirm a recurring pattern in the price of silver, namely, a clash between what is occurring in the paper COMEX - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-28-2008/) - Coincidence or Confirmation? (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Big news recently is the world record loss in crude oil trading, taken by SemGroup, of Tulsa, Oklahoma, a large but mostly unknown - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-21-2008/) - A Modest Proposal (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) If there has been one issue which I have focused more on than any single issue over the years, it has to be - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-15-2008/) - Shelter From The Storm (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) For quite a few years, I have extolled the virtues of investing in silver. I based my premise on the real facts - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-8-2008/) - The Sole Silver Price Depressant (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) In a recent article, I likened the silver market to a multi-ringed circus, with various activities occurring on different levels. I’d - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-1-2008/) - THE NEW ERA By Israel Friedman (Israel Friedman is a friend and mentor to Theodore Butler. He has followed silver for many decades. He has written articles for us in the past. Investment Rarities does not necessarily endorse these views.) We are witnessing a new era of world capitalism and economic development. Over the past - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-24-2008/) - A Tiger By The Tail (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) First, a few follow up comments on last week’s article on the short selling of SLV shares. I knew this would - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-16-2008/) - A Hidden Silver Default? (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Today I am going to write on a subject that I feel is of the utmost importance to all silver investors. It’s - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-10-2008/) - The Real Speculators (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The unprecedented price volatility in crude oil, grain and other commodities, has focused our attention and galvanized a collective opinion. “Too much speculation” - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-3-2008/) - BUBBLE MANIA? (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) If there ever was an overused word in the current financial world, it has to be the word “bubble.” It seems that everything that - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-27-2008/) - A Few Thoughts I had planned to skip writing an article this week, but today’s sudden drop in price persuaded me to pen some thoughts. Ironically, the short term prospects for silver looked pretty good going into today. The market structure, as defined by the Commitment of Traders Report (COT), appeared OK, and persistent reports - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-20-2008/) - TED BUTLER INTERVIEW Cook: The Commodity Futures Trading Commission just issued a staff study that finds no evidence of market manipulation in silver futures. Did this report catch you by surprise? Butler: Not at all, I wrote that something was coming out the day before. Cook: Was that a guess? Butler: No, a Commissioner told - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-13-2008/) - A Critical Point? (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Here are a few brief observations on the current market structure, as depicted in the most recent Commitment of Traders Report (COT), for - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-5-2008/) - Another Sick New Record (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The engineered sell-off of gold and silver by the big commercial shorts continued over the past week. However, there were decidedly mixed - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-29-2008/) - An Interesting Week (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Over the past week, important news continued to develop in silver. Let me try to touch on some of it, before getting into - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-22-2008/) - THEN AND NOW (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Recently, the price of silver has been at levels not witnessed since 1980, some 28 years ago. That’s a pretty good chunk of - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-15-2008/) - Super Concentration (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) On the surface, there was nothing particularly remarkable in the latest Commitment of Traders Report (COT). For positions held, as of the close of - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-8-2008/) - BELIEVING YOUR OWN EYES (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) From the beginning, I have steadfastly maintained that a silver commitment should be made for the long term, after one has done - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-april-1-2008/) - Real Regulatory Reform (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) There is a lot to cover, so I apologize in advance for the length of this piece. While I have been thinking about - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-24-2008/) - ALL IN (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) I just knew I had used the above title previously. Since I do try to avoid it, I had to look it up. Sure - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-18-2008/) - Life After Bear Stearns (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Before getting into the heart of today’s message, some specific updates on silver. First, there were no big changes in the market - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-11-2008/) - STILL A GREAT TRADE (This essay was written by silver analyst Theodore Butler, an independent consultant, Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The price moves in silver have been dramatic. Volatility looks to be increasing. It is something we must adjust to. After all, - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-4-2008/) - Up Against The Wall There were some surprises in the most recent Commitment of Traders Report (COT) for silver futures on the COMEX. The COT, for positions held as of Feb 26, showed a big drop in the uneconomic spread positions, a notable increase in small trader short positions (most likely as a result of - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-february-26-2008/) - THE REAL DEAL (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) We live in a financial world fraught with increasing risks. To many people, a lot of these risks seem to have come out - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-february-19-2008/) - Deep Into The Danger Zone (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The extreme market structure in COMEX silver (and gold) continues to get more extreme. In other words, the concentrated net short - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-february-12-2008/) - BACK TO BASICS This essay was mailed out to IRI clients in October 2007. (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) It’s hard not to get caught up in the daily ebb and - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-february-5-2008/) - The Real Lesson Of SocGen (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) As you are undoubtedly aware, a new world record has been set in the markets, as a low-level trader from the - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-january-29-2008/) - INTERVIEW WITH THEODORE BUTLER (Theodore Butler is universally recognized as the world’s leading authority on silver. The following interview took place in late January between Mr. Butler and IRI president, James Cook. This interview reflects the bullish views of Mr. Butler on the future of silver. Investment Rarities does not necessarily endorse these views, which - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-january-22-2008/) - THE COMING INVESTMENT BOOM IN SILVER (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) From the very beginning of my interest in silver, my focus has been on basic supply and demand, with particular - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-january-15-2008/) - DANGER ZONE (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may now prove to be correct.) When anyone speaks in absolute terms, they set themselves up to be absolutely right or absolutely wrong. Being right is easy to handle, but - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-january-7-2008/) - Doin’ The Right Thing Life is a continuous process of trial and error. We try to learn from our setbacks and enjoy the successes. When we attempt to do something in concert with others, we collectively learn from failure or share in the joy of accomplishment. Today, we can all take pride in doing something - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-august-4-2009/) - History In The Making (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) As I have been writing about for the past month or so, I think that big change is coming to the silver - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-27-2009/) - D-I-V-O-R-C-E (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Old-time country music fans will recognize the title as one of the late Tammy Wynette’s greatest hits http://www.youtube.com/watch?v=S9J7XE-ctMU Men and women are alike in uncountable - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-20-2009/) - The Real Solution (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Last week, I made the case that the level of the speculative position limit in COMEX silver was completely out of line with - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-july-7-2009/) - This May Be The Last Time (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) When I decided on the title of this article, I had the old Rolling Stones tune in mind. But in - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-23-2009/) - Straight Talk On Manipulation (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) This article comes as a result of recent conversations with my friend and mentor Izzy Friedman. Our discussions on silver go back - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-9-2009/) - Bad News, Good News (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The most recent Commitment of Traders Report (COT) was almost a replay of the prior week’s report. Very little net new speculative - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-june-2-2009/) - Showdown Time? (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The spirited price rally in silver and gold carried further in the past week. In silver, the rally in May was the best in - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-26-2009/) - Another Smoking Gun (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) On April 14, I wrote about the nice set up for a silver and gold price rally. https://www.investmentrarities.com/04-14-09.html This was based upon a number - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-18-2009/) - Silver Surplus? (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) First, a quick word on the current market structure, according to an analysis of the most recent Commitment of Traders Report (COT). The $2+ - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-11-2009/) - A Presidential Bombshell (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) I’ve just learned something about silver that I was only vaguely familiar with previously, and I’d like to share it with you. It - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-may-4-2009/) - The Educated Investor (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Those that live on the East Coast of the US have undoubtedly heard the advertising slogan of Syms, the 50-year old discounter of - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-30-2009/) - There are three separate articles here. The Sting (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Stunning new evidence of manipulation in silver and gold has just been published by the Office of the - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-23-2009/) - Ahead Of His Time (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) On March 17, the Wall Street Journal carried an Op-Ed piece, co-authored by Richard Lefrak, the New York real estate developer and - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-16-2009/) - Crunch Time? (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) It is one thing to analyze on a long-term basis, and quite another to make short-term predictions. There is no doubt in my mind - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-march-3-2009/) - The Smoking Gun, Part II Once again, the recent sell off in silver is explained by the market structure on the COMEX. Once again, clear new evidence of manipulation has been presented. Once again, this evidence is contained in the CFTC-issued Commitment of Traders Report (COT), rendering the source data as reliable. The most recent - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-february-23-2009/) - Silver; Past, Present, Future Phoenix Silver Summit 2009 Good afternoon and thank you for being here. It’s an honor to get to speak with so many interested in silver, especially at such an interesting time in history. I’m going to ramble a bit, and try not to get too detailed and save some time for - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-february-16-2009/) - Only One Seller Left? (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Another week, another data release from the CFTC proving manipulation in the silver market. The most recent Commitment of Traders Report (COT) - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-february-3-2009/) - February 3, 2009 (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) Almost eight months ago, I wrote an article titled “A Hidden Silver Default?” – https://www.investmentrarities.com/06-16-08.html It was a detailed article on a complex - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-january-26-2009/) - Madman Across The Water? (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) An investigative reporter from the United Kingdom, Rob Mackinlay, has written what I believe is an important story on the current silver - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-january-20-2009/) - Real Silver Availability Editor’s Note: It seems that the CFTC casts their net far and wide in search of mischief in the silver market. They’ve talked to everyone but Ted Butler. It’s imperative that they contact him. It’s hard to know what they are waiting for. Much has been written about the actual amount of - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-january-6-2009/) - A Specific Issue (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) The swirl of controversy continues to surround the alleged Madoff fraud and the failure of the SEC to uncover and deal with the - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-21-2009/) - One Lie After Another Sometimes, you can overlook something that is right in front of you. That just happened with me. I’m talking about something I should have seen before now in silver and gold. A year and a half ago, the Commodity Futures Trading Commission (CFTC) published a 16 page public report denying there - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-14-2009/) - EXTREME SPECULATION By Theodore Butler Recently, I have raised the possibility that silver trading might be terminated on the world’s largest silver exchange, the COMEX (The Commodity Exchange, Inc.), now owned by the CME Group, which in turn is the largest futures exchange in the world. I hope everyone realizes that this is an extreme - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-12-2009/) - Here’s a new interview with King World News on Friday December 12- Click Here For subscription info please go to www.butlerresearch.com Ted Butler’s Archive - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-december-5-2009/) - Here’s a new interview with King World News on FridayDecember 5- Click Here For subscription info please go to www.butlerresearch.com Ted Butler’s Archive - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-27-2009/) - Here’s a new interview with King World News on Friday November 27- Click Here For subscription info please go to www.butlerresearch.com Ted Butler’s Archive - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-20-2009/) - Here’s a new interview with King World News on Friday November 20- Click Here For subscription info please go to www.butlerresearch.com Ted Butler’s Archive - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-13-2009/) - Here’s a new interview with King World News on Friday November 13- Click Here For subscription info please go to www.butlerresearch.com Ted Butler’s Archive - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-06-2009/) - Here’s a new interview with King World News on Friday November 6- Click Here For subscription info please go to www.butlerresearch.com Ted Butler’s Archive - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-november-3-2009/) - The Bomb Squad In a speech yesterday, CFTC Commissioner Bart Chilton outlined his thinking on the all-important showdown coming on the issue of position limits and hedge exemptions to those limits. In a related interview he reaffirmed the timeline of the showdown, said by him to be by late November. He expressed a fear that - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-30-2009/) - Here’s a new interview with King World News on Friday October 30- Click Here For subscription info please go to www.butlerresearch.com Ted Butler’s Archive - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-23-2009/) - Here’s a new interview with King World News on Friday October 23- Click Here For subscription info please go to www.butlerresearch.com Ted Butler’s Archive - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-21-2009/) - Outrageous (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) After a three-day delay, the Bank Participation Report (BPR) for October was released by the CFTC today, October 12. The report, for positions held by - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-16-2009/) - Here’s a new interview with King World News on Friday October 16- Click Here For subscription info please go to www.butlerresearch.com Ted Butler’s Archive - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-13-2009/) - The Box Canyon (an excerpt) (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) This is an excerpt from an article for subscribers on Oct. 4, 2009. I am publishing it here because I think - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-9-2009/) - Here’s a new interview with King World News on Friday October 9- Click Here For subscription info please go to www.butlerresearch.com Ted Butler’s Archive - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-october-2-2009/) - Here’s a new interview with King World News on Friday October 2- Click Here For subscription info please go to www.butlerresearch.com Ted Butler’s Archive - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-30-2009/) - THE SILVER SHORTAGE WILL COME By Israel Friedman (Israel Friedman is a friend and mentor to Theodore Butler. He has followed silver for many decades. He has written articles for us in the past. Investment Rarities does not necessarily endorse these views.) Based on the supply and demand situation of silver, it’s only a question - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-25-2009/) - Here’s a new interview with King World News on Friday Sep 25- Click Here For subscription info please go to www.butlerresearch.com Ted Butler’s Archive - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-22-2009/) - Silver Investigation Update Yesterday, I received a number of emails from readers who had been communicating with Commissioner Bart Chilton of the Commodity Futures Trading Commission. Obviously, Commissioner Chilton intended this to be made public and I do so here. My comments will follow. Statement of Commissioner Bart Chilton Regarding the CFTC Investigation of Silver - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-21-2009/) - A Self-Serving White Paper This is an excerpt from an article prepared for subscribers to www.butlerresearch.com on Sep 17, 2009…….. The other thing that could cause the silver shorts to be overrun is regulatory intervention. This intervention is long overdue, as well. I make no apologies for recent optimism concerning the intent of the new - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-18-2009/) - Here’s a new interview with King World News on Friday Sep 18- Click Here For subscription info please go to www.butlerresearch.com Ted Butler’s Archive - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-15-2009/) - THE DUMBEST TRADE EVER? By Ted Butler (This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.) In this day and age of massive financial miscalculation and blunder, it’s not easy coming up with the single - [Ted Butler Commentary](https://www.investmentrarities.com/ted-butler-commentary-september-4-2009/) - Warnings Ignored Trouble with you is the trouble with me, Got two good eyes but you still don’t see. Trouble ahead, trouble behind, And you know that notion just crossed my mind. 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The Playbook includes three insightful reports: • The Silver Squeeze: Understand the dynamics of the silver market and its potential - [Silver on the Launching Pad (PPC)](https://www.investmentrarities.com/silver-on-the-launching-pad-ppc/) - Silver Is on the Launching Pad:Don’t Miss the Next Big Move Discover why leading investors are turning to silver — and how you can position yourself before prices take off. About the Author: James Cook, founder of Investment Rarities, has guided investors through over 50 years of precious metals cycles. His insights have been featured - [Silver Coins Promo](https://www.investmentrarities.com/products/silver-coins-dealer-cost-promo/) - To Order Call 1-800-328-1860 Austrian Philharmonics The Philharmonics coin promotion has ended. U.S. Silver Eagles These one-ounce silver coins are newly struck by the U.S. mint. They have a face value of one dollar. They have a Walking Liberty on their shimmering surface and are large beautiful coins. Complete Roll Sets of U.S. Silver Eagles - [Theodore Butler Silver Archives](https://www.investmentrarities.com/theodore-butler-silver-archives/) - Weekly Commentary 2024: July 11, 2024 May 28, 2024 April 30, 2024 April 16, 2024 April 3, 2024 March 20, 2024 February 29, 2024 February 15, 2024 January 30, 2024 January 17, 2024 January 3, 2024 2023: December 20, 2023 December 7, 2023 November 14, 2023 November 6, 2023 October 19, 2023 October 5, 2023 - [The Last Written Commentaries of the Late, Great Silver Analyst Theodore Butler](https://www.investmentrarities.com/the-last-written-commentaries-of-the-late-great-silver-analyst-theodore-butler/) - The Last Written Commentaries of the Late, Great Silver Analyst Theodore Butler Download the New book by Theodore Butler Click Here For A Free Copy “The coming price explosion in silver will be like an atom bomb on a hydrogen bomb on a neutron bomb.“ -Theodore Butler If you would like to receive our monthly - [Silver Coin Promo (Epoch Times)](https://www.investmentrarities.com/products/silver-coin-promo-epoch-times/) - To Order Call 1-866-584-4593 1. 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