Hi tippet, <<buy some at 10 ... won't be exercised>> I am suspicious that we will (yes, that would be the 'we', as in gold bugs, platinum worms and silver insects) be tested in the near future (18 months) by declining gold shares to below current levels when many would be scared to buy. The road is long, the path difficult, but at least we are on our way:0)
There are many acts officialdom can still do:
(a) eliminate tax on dividend
(b) impose negative real interest rate (we are close already)
(c) Japan is considering cash that has a limited useful life (recognized within span before it must be spent)
(d) Outlaw gold ownership, at least in the US (not really possible elsewhere, politically and geopolitically)
(e) etc ...
In the mean nasty time, sell naked puts, covered calls, buy hot shares during the scary lows, keep accumulating and warming the seniors, ... for fun, exercise, positioning and petty cash.
Infinite patience of the bugs and strong faith of the worms will see the officialdom humbled, eventually, on that sweetest of beautiful honest days.
Chugs, Jay |
