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RIP Ted Butler

Ted Butler

The fight for free and fair pricing in the precious metals lost a longtime advocate last weekend with the passing of Ted Butler. Few have fought against the bullion banks as vigorously as Ted, and now we must continue the battle in his honor.

I first discovered Ted's work in 2009, about the time I came to understand the value of precious metals and the forces in place to manage their price. Ted had begun to focus his writing on gold and silver in 1996, and Butler Research started as a subscription-based newsletter in 2009. The bi-weekly articles he posted on his website became must-read material during the bull market price spike of 2010-2011. 

Ted had a long career as a commodities trader before beginning his work as an analyst. He would tell you that his experience in commodities, in general, led him to take special notice of the precious metals, which often trade in patterns unseen in products such as crude oil, soybeans, or sugar. Through his own diligence, Ted quickly discerned that there was outright and often overt price manipulation in gold and silver, and he would fight against it for the rest of his life.

Uniquely, Ted would occasionally copy and email his posts to bullion bank upper management and the commissioners of the Commodity Futures Trading Commission. Though his posts were often accusatory in their evidence, Ted would report that no one from any bank or government agency had ever contacted him for more information or detail. To some it may have seemed like he toiled in vain, but I can assure you that he did not.

Ted leaves a significant, lasting legacy for all of us who hold and stack physical precious metal as a sound money hedge against the endless debasement of fiat currency worldwide. His archives can be found for a fee on his subscription website, but sites like SilverSeek had a long relationship with Ted and, on occasion, Ted's subscription content would be posted beyond his paywall. Here are the two links he posted at SilverSeek earlier this year:

His last public article, dated March 4, serves as an epitaph to his second career as a precious metals advocate. In this post, Ted relates again his frustration in dealing with commodity regulators and the banks. Sadly, it's a fight he left unfinished.

The fractional reserve and digital derivative pricing scheme for precious metals remains fraught with deception and manipulation. Only physical precious metal demand can force a deleverage of the COMEX/LBMA market structure and bring about the type of change for which Ted tirelessly advocated.

Sadly, Ted did not live to see the fruits of his labor. In his honor, our mission now is to carry on without him as we work toward the day where gold and silver prices are finally released from the fraudulent, alchemic pricing system that has held power for decades. 

Thank you, Ted, for all your efforts in helping the cause. We will strive to uphold your legacy.


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About the Author

Our Ask The Expert interviewer Craig Hemke began his career in financial services in 1990 but retired in 2008 to focus on family and entrepreneurial opportunities.

Since 2010, he has been the editor and publisher of the TF Metals Report found at TFMetalsReport.com, an online community for precious metal investors.

*The author is not affiliated with, endorsed or sponsored by Sprott Money Ltd. The views and opinions expressed in this material are those of the author or guest speaker, are subject to change and may not necessarily reflect the opinions of Sprott Money Ltd. Sprott Money does not guarantee the accuracy, completeness, timeliness and reliability of the information or any results from its use.


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