Gold this morning - Driving a silver stake into a bear's heart --J

Overnight turnover has become active continuing yesterday's suddenly robust trade. Open Interest as of Monday eased a couple of thousand and the GSR remains firm at ~64.40. Option volatilities remain very low and frankly a cheap compelling directional or hedge strategy. Today: In the mid $1250s we are within easy kissing distance of DEC's all time high of $1262.40. Over the past few days classic pivot points and former peaks have offered timid resistance to higher prices and any pull backs have been remarkably shallow.The strength of silver within the GSR is surely an alarming red light for those who recognize the long term leading qualities of this indicator and the rising price of silver whether driven by known shortages or industrial demand could be quite punishing to the d-boys here. Furthermore last week while the members of the Fed and other people who have never had accountability for a bottom line were ringing their hands in Jackson Hole, we and a bunch of clients were seeing budding creative capitalism and commercialism in Samirqand, Yerevan, Baku, and Tbilisi where growth is robust driven by investment and little debt. There is a boom going on in this world and you had better know where it is happening and in what currency you make your investments