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Message: From Ed Steer....

From Ed Steer....

posted on Feb 16, 2010 12:45PM

"Ted Butler and I spent some time comparing notes on the weekend about Friday's Commitment of Traders report. When we looked at the numbers, it showed that the '4 or less' bullion banks in silver held 50,758 short contracts between them. This represents 134% of the Commercial net short position. The '8 or less' traders hold 58,200 Comex short positions... or 154% of the net short position in the Commercial category. And JPMorgan holds about 85% of the Commercial net short position all by itself!!! If these bullion banks weren't there, the Commercial category would show a huge net long position. So, it's '8 or less' traders against the entire world's silver market... and the CFTC and your mining companies do nothing. I don't see any 'shareholder value' being added here... do you?"

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