They just have two different views which is pretty common on the long side of the precious metal sector. Gene thinks that CFTC headman Gensler being an ex-Goldman man and banker will never do the right thing on position limits in precious metals CRIMEX trading. But Butler thinks he has changed his stripes (had an epiphany) based on his writings/new responsibilities and this change of heart will lead to him doing the right thing and creating positions limits that matter on the shortside as they are now for the longs and not allow the kind of exemptions that presently exist for the commercial/bullion bank shorts.

I still think this is a tough call myself and I hope Butler is right. In either case they both agree, and so do I, that it won't matter over the medium to long term anymore than it has mattered over the last 6-7 years, silver and gold will go much much higher yet with the cartel bullion banks making money along the way as they have so far. At some point the cartel banks will be net long and that will be the blow-off. The question will be is this to try and corner all the gold with the price remaining permanently re-set higher and maybe even pegged higher to reflate the world currencies or to hammer the late comers when the time is right and before they can react. No need to worry about this line of thinking for a long time yet in my view as the dance will continue for quite sometime yet, two steps forward/one step back, the money dance.