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<p>[QUOTE=&quot;PeacePeople, post: 1270790, member: 20082&quot;]Here is an excerpt from Ed Steer of Casey Research, and is what I was posting about on the previous page.</p><p><br /></p><p><i>Well, the Commitment of Traders Report was everything I hoped it would be. In silver, the Commercial traders decreased their net short position by a total of 4,679 contracts, or 23,395,000 troy ounces. The net short position in silver is now down to 203.5 million ounces.</i></p><p><i>Of that amount, the &#039;4 or less&#039; traders are short 191.7 million ounces...and the &#039;5 through 8&#039; bullion banks are short 40.4 million ounces. Straight addition shows that these eight bullion banks are short 232.1 million ounces of silver...which is 114% of the entire net short position. They control the price, it&#039;s as simple as that...and if they and their respective short positions disappeared tomorrow, the remaining Commercial traders would be <b>net long</b> the silver market...just like everyone else.</i></p><p><i>In gold, the Commercials decreased their net short position by a chunky 12,840 contracts which, multiplied by 100, is a reduction 1.284 million ounces. The Commercial net short position is now down to 19.76 million ounces...and it hasn&#039;t been under twenty million ounces for quite some time.</i></p><p><i>The &#039;4 or less&#039; bullion banks are short 15.5 million ounces of gold...and the &#039;5 through 8&#039; bullion banks are short 5.0 million ounces of gold. So these eight bullion banks are short a bit more that 100% of the entire Commercial net short position. Just like in silver, they control the gold price as well.</i></p><p><i>There are 50 Commercial traders that hold short positions...and eight of them rule the price roost in gold. In silver, there are 44 Commercial traders on the short side...and considerably less than eight of them control the silver price. These are called concentrated short positions...and are flat-out illegal. This is what the COT report was designed to show, but even though it&#039;s as blatant as it can possibly get, the CFTC does nothing.</i>[/QUOTE]</p><p><br /></p>

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