"We cannot expect that all nations will adopt like systems — for conformity is the jailer of freedom, and the enemy of growth. But however close we sometimes seem to that dark and final abyss, let no man of peace and freedom despair. For he does not stand alone. If we all can persevere, if we look beyond our own shores and ambitions, then surely the age will dawn in which the strong are just and the weak secure and the peace preserved."
John F Kennedy, Address to U.N., September 25, 1961
It will be interesting to see if the NAV premium on PHYS expands again to the 8 to 10 percent range or stays closer to the modest premium on the GTU fund. CEF is holding its richer premium because of the higher beta silver content in its portfolio.
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