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so I got an order filled today, SIN587C, a call option on silver for next July at $87 an ounce. this means, if silver is $100 an ounce by June 1 next year, I can cash out this option for $13 times 5000 ounces, or $65000 in inflated dollars. of course, Uncle Scam will lay his hands on a good part of that. how much did it cost me? 2 tenths of a cent per ounce plus commission and fees, just under $15. that's my total risk as long as I don't do something stupid and buy the underlying futures contract. there's a good chance I've lost that $15, since the Fed seems to have an infinite number of tricks up its sleeves to keep the dollar looking healthy. but I'm betting on the Renminbi's success at overshadowing the dollar as reserve currency not long after this election.

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last updated 2014-10-23 23:09:08. served from tektonic