The 11th Hour of the 11th Day

vets
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I have a daughter who was born in 2000.  She’s going to a classmate’s party today, and you guessed it, the classmate is also 11, on 11/11/11.   Pretty cool.  Of course my daughter also knows kids that were in 10 on October 10th and 9 on September 9th, and almost all the way down the line.   I guess that’s one of the hidden perks of being a Millenial Baby. 

Of course all that fun ends next December on 12/12/12, which will not coincidentally also soon after auger in her first year of teenagerdom.  Teenagerhood?  Teenagedness?

In any case, I’d better gird my loins.

But let’s not lose sight of the importance of the Day itself, written into history in 1918 as the end marker of “The War to End all Wars” — WWI.  Unfortunately that was a bit of hubris, wasn’t it?  The very Treaty (Versailles) signed that day in fact set the groundwork for an even worse World War only a little more than 20 years later. 

The study of history shows that human nature is cyclic, and that we tend to make the same mistakes, no matter our careful plans to eradicate them by mutually agreed consensus.   There will always be those who seek to take advantage of said consensus, just as there will always be those claiming we’ve finally arrived at the “End of History.”  

To expect otherwise in future is a fool’s game.  We can only do the best we can, and improve ourselves individually and as a society by gentle consensus, and with a constant and humble awareness that we will backslide.  That knowledge, that humility, will allow us to rebound all the quicker.

I would humbly suggest we hold then to our accumulated traditions, our respect for others, their person and property and our fealty to consensual agreement over forced autarchy.   For these are the traditions that set the Free People of the West apart from civilizations of the past, and from the failed societies of the present.  

But let’s also be most cognizant that these traditions are under fire from many quarters, and that in many cases, all that stands between them and the less enlightened cohorts of the past are the blood of those willing to defend their preservation.

So let’s raise a glass to our Veterans, and to those who carry the sword — voluntarily — into battle for our civilization today.   And pass that good word to a soldier in uniform not just this day, but from this day foreward.

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As I expected (was hoping?), the dollar gnomes have collapsed the dollar anew.    This has led to some very nice activity in the silver and gold pits, with the kind of flagging (bullish) that makes my heart grow fond.

I will likely add here and there to my hordes today, and will let you know if I do.  Right now I am enjoying strong moves in SLW, EGO, IAG and my various ETF plays, including the doubles AGQ and NUGT.

As always, if you want to toe-dip, start with the basics — GDX, GDXJ and SIL.  Highest octane is in the crazy silvers, like my favourites AG and EXK.  Today and for the next few days, SSRI should also be moving to make up for the plungerooni (overdone) yesterday.

Lastly, don’t forget about the “rare earth” plays like QRM and AVL for added dollar inflation pop.
My best to you all on this day of honour.

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56 Responses to The 11th Hour of the 11th Day

ecchymosis says:

Jake – are you going to hold NUGT after 12/01 when it becomes a 3X ETF?

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GravestoneDoji says:

Nice post Senator Gint. I’ll hoist a glass or two tonight at SU game with fellow submarine vets and dream of $AG, $EXK going on a real run.

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JakeGint says:

Submariner! Secretive fuckers!

What do you think of them letting babe officers on those tubes? How pregnant are those mamas gonna be come tour-end?

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THEosu says:

Bought a load of the Quarterly GLD 175 calls
for DEC.31 @ 4.15 and now 5.75.

I believe we see 185~187 in GLD before year end .

Like the Giants +3.5…Weatherford has been sensational and should nuetralize a big
part of San Fran success .
Whatever happened to Matty Dodge ?

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JakeGint says:

Too many stupid punts to the wrong guy.

You know the line was originally 5.5? I couldn’t believe it.

Who has SF beaten save Detroit and the Beagles?

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duck says:

49ers winning is good for the gold bugs

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JakeGint says:

LOL. Didn’t even think of that. They are the patron football team of the Gold Bug generation.

I actually have a lot of relatives out there in SF who will be at the game, including my bro (he is a Dolphin fan, don’t ask).

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duck says:

I’ll be down the road at smart kid stadium (Stanford) watching my duckies (hopefully) winning this weekend. Looked at 49ers tix, but didn’t work out.

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JakeGint says:

So you think Luck is outta luck?

He sure used a lot in that USC game.

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duck says:

I’d be ok with them passing a lot and Oregon shutting down their running game. Stanford OLine has some leaks in passing game when Luck is dancing in the pocket.

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kohai says:

Jake!

Thank you as always sir.. A humble request as time allows – your view & chart magic on PAAS. Did see the board recently shuffled and Fleckenstein/Dunn departing.

Thank you for all + happy weekend to you.

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JakeGint says:

I don’t know which is more frustrating, PAAS or SSRI (okay I do know, but..)

I am of the mind to forget about both those stocks and just concentrate fully on EXK and AG… and maybe SIL and MVG too.

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kohai says:

Thank you sir… long time “Jacksonian” shares from April/May of 2009, have added along the way and not trimmed enough when the gettin’ was good! Perhaps rising tides rescue this boat and I’ll shear them proper.

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Frog Playing a Colorful Accordion says:

Jake, you recoed a 2 year bond fund on Fly’s blog recently, but I can’t find one. How about SHY, the 2 to 3 year bond ETF? Will that do, for something to park cash in, to keep it out of the Money Market Funds which are loaded with European debt? Thanks.

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JakeGint says:

I didn’t say a fund… I said 2 year treasuries.

But if you want a decent fund try a little bit longer duration… PRTIX.

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Bozo on a bus says:

Despite all of the issues that come with teenagers, and there are many, enjoy these years while they last. Soon enough the teenager turns into a young man or woman, and then moves on with their life, which doesn’t revolve around the parents. The house then becomes awfully quiet and lonely.

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JakeGint says:

I know I will be sad someday… unfortunately, I also have a 5 year old, so I can’t really anticipate that regret yet… ;)

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huh? says:

Good post sir.

I liked this part “The study of history shows that human nature is cyclic, and that we tend to make the same mistakes, ”

Im not sure whom this quote came from, but it goes something like this

“We never make the mistakes of our parents, we make the mistakes of our grandparents.”

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poopzie says:

just remember – Canada was in WW2 long before the US (the was was just about over – everyone know you guys are teaches you were the heroes, you know, by dropping two nukes on civilian targets, even though in reality the war was nearly over by then and Canada was in WW1 close to 3 yrs before the US as well…

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JakeGint says:

So what? Canada was a Commonwealth of the Throne… of course they were in the war before us. England declared war on Germany in 1939.

Canada was a pretty decent country, militarily, back in the day. Socialism has done that in, unfortunately.

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poopzie says:

the whole time jews were being executed in the millions, the US did nothing….

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JakeGint says:

Are you fucking kidding me? The US did not enter the war to save the Jews… the liquidation strategy wasn’t even known about until very late in the war. Hitler didn’t even really start the “Final Solution” til about 1943.

Are you trying to start some kind of fight?

If so, I’d suggest you come better come better armed.

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Mad_Scientist says:

No, the final solution was agreed upon and started in 1941. January 20th 1942 was the wannsee conference where high ranking nazi officials agreed upon an organized plan of implementation for a thus far highly disjointed and inefficient mass murder process. Western countries including the us were well aware of what was going on by as early as spring 1942.

But you are right that america did not enter the war in order to save Jews. Someone who thinks that is woefully ignorant of history.

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momo14318 says:

Jake, thanks for a very inspirational post. This was an especially poignant Veterans Day for our family since my uncle passed away only three weeks ago. He was a Korean war vet. My brother-in-law and other family members are still serving.

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purdytoo says:

Honor vets by becoming better informed so that you aren’t yet another chicken hawk supporting the sending of other people’s kids to fight and die in wars that make us less safe and more hated.

It is nauseating when people like you wrap yourself in the flag and count yourself a patriot for cheering the military adventures that are bankrupting this country and which are pissing away whatever moral authority we have left in the eyes of the rest of the world.

Lastly, stop pretending to speak for vets. The mid-east vets I know support the views of Ron Paul — you and your ilk certainly do not speak for them.

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Jakegint says:

Purdy, you sure sound like one miserable human being. I sure hope you get help with your hate problems. Might I suggest ye get yourself to a church, pops?

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Jakegint says:

Perhaps you should also look into the definition of “moral authority,” and how much sway such a thing has held in world politics over the last 10,000 years of human civilization.

For a bitter old guy, you are still one naive hippy.

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