Ted Butlers Silver commentary:
The most salient point Butler made was:
["While Barrick is being intentionally cryptic in saying they will "financially settle" a large chunk of their silver short position, even if they paid cash for all 35 million ounces held physically short, that comes to $175 million, something Barrick could afford. "]
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"even if they paid cash" ?
....they WILL pay Cash.
"$175 Million is something they can afford"
...yes it is & yes they can.
It is indeed bullish that Barrick will settle their Silver Hedge Book and no one would dispute that. But, extrapolating that Barrick release into $50, or $100 oz Silver - is looney-bin material.
Strange how all of the Pro's Trading Silver in the Markets for a living... are the "last to know" (vbg).....I guess "WE" are the only one's that KNOW, or have it all figured out....it's our BIG SECRET...and WE'RE GOING TO GET RICH - because NO ONE else knows...yada, yada, yada...
Butler's talk about $50 & $100 Silver is pretty over the top...maybe Tokyo-JimWillie can top Butler and come up with some more fantasia commentary on 123hype.com about $2,000 Silver coming @ USD 80 or something (vbg).
Simply amazing that you can't find a sane pundit talking about $7 Silver. I guess $7, or even $9 - just isn't over-the-top enough, to get any ink on the Mega-Bull Web Sites.
Kind of like the tabloids at the newstands competing against each other - to see who can come up with the biggest Whopper...the GLOBE with the 72 lb newborn baby from Mexico, or the STARR with a 5-headed tree frog, or the 80-ton meteor from Mars that landed in someone's toilet etc. |
