24 February 2014

NAV Premiums of Certain Precious Metal Trusts and Funds - The Mad Tea Party

"The table was a large one, but the three were all crowded together at one corner of it: `No room! No room!' they cried out when they saw Alice coming.

`There's plenty of room!' said Alice indignantly, and she sat down in a large arm-chair at one end of the table.

`Have some wine,' the March Hare said in an encouraging tone.

Alice looked all round the table, but there was nothing on it but tea. `I don't see any wine,' she remarked.

`There isn't any,' said the March Hare.

`Then it wasn't very civil of you to offer it,' said Alice angrily."

Lewis Carroll, Alice's Adventures in Wonderland

The Comex reminds me of the Mad Tea Party, with the LBMA not all that far behind it. 

As for GLD and its like, when the tea pot gets tipped, let's see what comes out.

As a reminder, tomorrow is the March option expiration for precious metals at the Comex.

The SP 500 is running the stops to a new all time high.  One has to wonder what the Fed and the ruling class are thinking.  

Well,  if you don't know where you are going, any road can take you there.