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Message: Ted Butler on Silver

Ted Butler on Silver

posted on Jun 16, 2008 09:57AM

There are many interesting things to note involving Ted Butler's interview with Eric King on FSN last weekend, but one of note is a comment he made about silver, especially since 40% of Kimber's resources are silver. He pointed out that silver has been disparaged because of its dual role as a monetary and industrial metal. Butler basically pointed out his befuddlement involving this situation. I too am befuddled. It would be like criticizing Mickey Mantle as a baseball player, because he was a good fielder AND a good hitter. i.e. "Can't he make up his mind what he wants to be good at, fielding or hitting?" It's a strange type of logic that leads one to come to the conclusion that a substance has lesser value the more potential uses it has. But the interesting thing is that people seem to be falling for it. I don't think that people really are falling for it on all levels, especially those who have even a rudimentary knowledge of history (keep in mind that's a very small minority),not in the deeper recesses of their psyches where they can sense something is somewhat amiss as silver continues to rise. But they remain almost purposely uninformed as a psychological protective mechanism because they have potentially so much to lose if guys like Ted Butler are on the right track. They will favor any anti-silver argument to assuage their tired reasoning processes. I think the argument against silver also stems from what I think is the mistaken belief that silver, once valued as a monetary metal, is now forever relegated to the status of industrial metal. Well, to begin with, forever is a long time, and if this was the case, the price would not be where it is. It's like arguing that Picasso isn't fasionable anymore despite the fact that people continue to pay millions for his paintings. It just doesn't ring true, at least not to the careful thinker. I hear a lot of boasting loudly about silver not having monetary value, a lot of sound and fury. Ultimately it will signify nothing. Remember the words of James Dines, "A fool believs what he thinks and rejects what he sees. A wise man believes what he sees and rejects what he thinks." Be wise. See well. Be well. Bull

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