Jim Sinclair, the man who called the top of the last gold bull market nearly to the day, and who predicted gold would achieve $1650 during this bull run over a decade ago (while the metal was trading under $300/oz) sent an email alert to subscribers today regarding the latest gold futures market raid by the bullion bank cartel.
Sinclair states that gold’s latest decline is similar to a the series of declines gold saw in the 70′s just prior to it’s launch from $400 to $887.50, and that the current correction is the cartel shorts attempting to shake every last ounce of physical gold out of the public’s gold apple tree just prior to a historic vertical move in the metal.
Sinclair states that this may be the last significant correction in gold and the last time gold investors will need to bite the emotional bullet and sit tight while enduring a major raid on the price of gold prior to the metal achieving $3,500/oz!
Sinclair’s full alert is below:
From Jim Sinclair:
The pressure on gold is not permanent in any sense. This decline is, as I have told you, similar to the series of declines just before gold took off in the 70s from $400 to $887.50. Those declines then were for the purpose of the last great shake of the gold apple tree prior to the move that gained the most distance over the least amount of time.
My birthday is March 27th. By that time this decline in gold will be old history. This decline is purely to take your positions away from you, certainly in shares which today trade at historic discounts to their assets.
I can only suggest to you as strongly as possible that you need to defend yourself by doing absolutely nothing. This way you can get into the fight and prevent the shorts from taking their profits that are soon to become losses.
The biggest profits the shorts have is in your shares. As long as your company is performing well on the ground do not let the shorts have any joy. This may be the last time before gold trades in excess of $3500 that you need bite the bullet of emotional restraint.
Gentlemen, prepare to defend yourself!