Ted Butler discusses gold, silver & the COT report on KWN | January 30, 2010

[RJ54661]

Dont' worry about the manipulation...All markets are manipulated to some extent

TAKE advantage of the lower price and build your hord..Eventualy market forces will kick in and youll have purchased your silver a much lower price

[smkuhner]

great interview as always!

[harveybirdmannequin]

The manipulation might not be a bad thing. After all, you can buy physical silver on the cheap if you can find it.

[smkuhner]

@harveybirdmannequin well said, hey if us smart people can buy up the silver while its still cheap then, the manipulation benefits us in the short term right?

[nickstar717]

how long can they manipulate silver for? seems like forever

[Seano71]

until the COMEX defaults

[smkuhner]

@Seano71 im interested to know when the comex will finally default.... its going to be an amazing time!

[Seano71]

until their is a currency crisis for the USD or Euro. Despite the problems those currencies are in, especially the USD I can't see it happening until another 15 years or so. The COMEX could default in the next 5 years

[smkuhner]

@Seano71.. i'm not sure if you've ever listened to Jim Rickards, but he has some great insights on this... he thinks the FED will be devaluing the dollar by 50% over the next 14 years, and also thinks that if the markets get a hold of this move early on, like they usually do, we could see a big move from the dollar and possibly a crash much earlier than 14 years. If i had to put a rough estimate out there, i'd say the dollar crash will be closer to the comex default than many think!

[Seano71]

We look how much the USD has been devalued over the past few years already? Far more than 50%

[smkuhner]

@Seano71 agreed, more like 94% since the FED came into existence, the only thing here is that, devaluation is occuring much faster than 94% over 100 years or so, this can lead to panic and a crisis in the dollar

[Seano71]

The good news is globally the economy will boom and there are opportunities to make a shitload of money. I'm investing in silver and when then later on I'm going to invest in silver mines and renewable energy. I need a job first, but I'm working on that. There are great opportunities in the world, but not in the US, UK and most of Europe. Lets hope we aren't sent to fight some made up enemy in some phony war.

[smkuhner]

@Seano71 well said! I hope that the rest of the world comes out clean, what do you think about peak oil though? if its true we're nearing peak oil in the next 10 years or so, the rest of the world will fall along with us if that happens.,.. i'm not sure if you've ever listened to marc faber, but he predicts that when the u.s. hits its currency crisis, the governments, as they always do, will usually go to war to distract the populace... gloomy, but i think there's hope

[Seano71]

No, I think there is still plenty of oil about, especially in Alaska. The problem is oil was so cheap from the middle east for so long it didn't make economic sense to invest in energy from elsewhere. Now the price is much higher we are seeing investment in 'alternative' energies and also oil exploration in other parts of the world. Believe me, the US isn't going to run out of oil anytime soon. They have been saving it the future and using up other nations oil whilst its cheap.

[smkuhner]

@Seano71 I do agree with you that we have some oil left, but if you're talking about what's left in alaska, and perhaps starting some new drilling in the gulf coast area, and perhaps a little more in california, you're talking about 10 years extension at the most, and that's highly optimistic. I agree, that we've been using up other country's oil while its cheap, which may put us in a good position, but i think 2007 oil prices are an indicator that we've hit the "bumpy plateau" as they say

[Seano71]

but other forms of energy will take off and they'd be an excellent investment.

[smkuhner]

@Seano71 agreed! I think we'd all be well positioned for alternative energy, i'm working on some myself! i wish you the best of luck! sounds like you're preparing well!

good luck in the future!

[Nuanceqwest]

Dont worry about that, we will probably retract the whole move.

Remember my christmas message to you, it still stands

[smkuhner]

@nickstar717 not much longer i think

[geordiejp]

Yes No.1 Excellent interview thanks KWN