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“In 2001 Ted Butler predicted that if the US ever engaged in yet another war, the price of silver would rocket higher to between $50 and $100 an ounce since silver is the most critical war metal. That same year he pointed out that by December of 2001 the world would run out of above ground silver. He missed the bottom in silver by a week.
According to his numbers, silver should probably be $250 to $500 an ounce now and it wouldn’t make any difference because we would totally be out of silver.
Ted Butler is a fraud and has never made those who believe his bullshit a cent. Name one silver top or bottom that he ever called with any success.”
from a friend-
Fine.. then you shouldn’t be concerned with him
Oh, incidentally I myself don’t trade or position myself off of others “predictions” or forecasts. It has served me well. I suggest you don’t either.
I mean I’ve been in this game since 2000, and my impression of Ted Butler is he is just stating what everyone already knows–at some point the paper market will completely implode, like a game of musical chairs.
The problem is, just like a game of musical chairs, no one knows when the music will stop and the scramble for physical begins. Gold bugs have known since 1971 that the USD was ultimately doomed (and it is) but then here we are, 50 years later.
What you say is correct. My comments above are geared towards that I don’t take trading advice from anyone. Which leads to the point of since when do we start calling people a fraud based on someones remembrance of a market opinion 24 years ago. Seems a bit harsh to me. Perhaps it falls into the category of what Shakespeare would say “me thinks the lady protests too much”. Perhaps a few unreconciled wounds from having plunged on someone else’s advice?