A Timeless Honor

As my 5^th reign as king comes to a close, I reflect on the month.  It was actually quite successful, if only for the stellar returns on silver, which have left my year looking bright again after my late game mishaps.

As I stand now, I have virtually no real margin, which is a rather wonderful position to be in.  I had almost forgotten how it felt to play with your own chips and not constantly be considering the consequences of errors and interest rates.  I’ll be holding myself in this position until the smoke settles.

In December, that banal month, where nothing happens, there is only one major trade which you should expect me to make.  With my other positions well within their boundaries and disciplines, and the holiday in effect, I will only be looking to unwind my position in silver.

The holidays, as I understand, are seasonally a relative high for the precious metals.  It will be an excellent time to sell half of my physical silver, covering the remainder of my debt, provided of course that silver is going for more than $30.  That’s the magical number I want. 

I think silver should trade higher than $30, but with 100% gains, I will relax my aim a little and play only with what is mine.  No sense keeping the risk of a run lower on the table when I have done so spectacularly in this trade.  To all of you gold bugs: Ha!  You see what could have been?

Of course, most of you are in both metals.  And, no sense of insulting your intelligence, I guess.  After all, you could be strictly in muni’s like some poor idiots I know of.  I wonder what it’s like, holding your net worth in a supposedly safe asset which you’re too myopic to see has been compromised?

Yes, it’s probably best we all just share a laugh at the expense of bondholders as the world teeters.

For my next trick, look for me to buy up foreign bonds at pennies on the dollar, as the destitute and desperate flee from the entire bond market with extreme prejudice. 

When will such action take place?  Why, I do have my sights set on 2011.  Perhaps, I shall see you there as king once more.

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