Ted Butler and James Cook on Comex and the CFTC:

Delaying Tactics and Interview

By: Theodore Butler and James Cook

– Posted 8 December, 2008

http://news.silverseek.com/TedButler/1228768232.php

Here’s a quick follow-up to last week’s comment about the CFTC sending out form letters to me and many of you asking for specific evidence about a manipulation in silver prices. A number of you asked me how to respond. Before you respond, it is important to understand what the Commission is trying to accomplish with their notifications. They are not looking for specific evidence. They are looking to buy time. They are stalling.

All the evidence the CFTC needs is already known to them. Specifically, the evidence is in their August Bank Participation Report which indicated that one or two U.S. banks held a concentrated net short position equal to 25% of the annual world mine production of silver. Such a degree of concentration, on either the long or short side of any market, is manipulative, in and of itself. If not, then the CFTC should simply explain why such a large concentrated position should not be considered manipulative and put the matter to rest. No taxpayer funded, long drawn-out investigation, just an explanation.

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