Ted Butler has released a public piece today detailing his beliefs on silver's smash-down. Ted believes the $6 Sunday night smash down was the result of HFT algos. Much of the piece is spent on calls to the CFTC for action as a result of the silver smash.
While we agree that HFT contributed almost entirely to silver's collapse last Sunday night, we do not believe that it was a random event where the algos went haywire. The perfectly timed propaganda campaign and 5 subsequent margin hikes leave no doubt as to who the culprits of silver's take-down are.
Furthermore, we are much less optimistic than Mr. Butler that Chairman Gensler will ever do anything of consequence to end the silver manipulation. No, that will ultimately be taken care of by our readers.
Click here for Ted Butler's Analysis of Silver's Take-Down:
