In Ted Butler's Archive


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. After many years, the issue of the excessive and extreme short position on the COMEX has achieved center stage.

To be clear – I had no inkling that such a thing as social media, in the form of the Reddit/ Robinhood/ WallStreetBets/ #SilverSqueeze would come along. Yet it has and I now can’t see how it will go away quietly. It is a development both unexpected and now apparently unstoppable. Over the years, I’ve discussed the growing popularity of the COT reports as a form of legitimate market analysis and the increasing focus on the issue of silver (and gold) manipulation, but I never imagined the explosion of interest in the silver manipulation that has occurred of late. And it’s not confined to the chat sites, it seems that there are more good interviews on silver manipulation than ever by a wide margin. It’s interesting how quiet most of the former strong deniers of the silver manipulation have become.

About the only thing that might stop the surge in discussing the silver manipulation (aside from the inevitable price explosion) would be a credible and convincing counter-argument as to why the concentrated short position was legitimate. But not only are there no legitimate arguments being offered, the few attempts to explain away the concentrated short position (like the one by Goldman Sachs’ Jeff Currie) are downright embarrassing because they are so devoid of substance.

Because the concentrated short position on the COMEX has so depressed and distorted the price an investment opportunity of truly staggering proportions has been created. Silver is a vital and indispensable commodity that the world cannot exist without and that is extremely depressed in price by excessive short selling. The newfound publicity about the financial opportunity in silver can easily cause enough buying to accelerate a dramatic price rise and aggravate the budding shortage. The only trick is to buy silver before the short covering commences, not afterwards.

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