Question: David - What do you think of
Ted Butler's commentary about Silver Mining
Companies?
Comment: I read what Ed Steer wrote in
his column. The crux of what Ted stated is that
the silver mining companies would be best served
by going to the regulators and asking them to
address the goings on in the Comex. He goes on
to ask a rhetorical question.. But why should
the miners petition the regulators if the
regulators will do nothing?
And then states...."Because of the message that
will send to the rest of the world. Try to
imagine the potential reaction in the investment
world to news that a silver miner or group of
miners asked the regulators to investigate
evidence of manipulation? It is one thing for an
Internet analyst (me) to make such allegations,
but quite another for a legitimate producer to
do the same. It's all about legitimacy. It is
well-known that in establishment media circles
the allegations of a silver (and gold)
manipulation is populated by conspiracy types
and that's a big reason the scam has lasted so
long. But if a silver miner or miners the
allegation, it just might prompt some of the
establishment types to actually look at the
evidence, something none have done to this
point."
My thinking is that it could have impact and the
cost to do it is almost nothing. In terms of
risk/reward it is outstanding. Because this
issue has come up so many times in the
conferences that we attend I can give you the
standard response of some of them.
We are silver miners we are not in the
forecasting business and do not think their is
anything going on at the CME. This is not to
state all primary silver producers think this
way but some do which means to get a
consolidation of effort may prove difficult.
Sincerely,
David Morgan
