by Theodore Butler
Cook: What’s happening in the silver market is hard to understand right now. Can you simplify it for us?
Butler: First you must understand the price of silver is set on the COMEX by two large opposing forces. On the short side are the big banks or traders led by JPMorgan. Four of these big traders are short 72% of the total commercial short position.
Cook: Isn’t that highly manipulative?
Butler: Of course, I think it’s grossly illegal, but the regulators sit on their hands.