Jim Sinclair has released an email alert to subscribers stating that next week will see the cartel make one final take-down attempt of the metals, which Sinclair states will fail, as did the 7 previous attempts.
Sinclair emphatically states not to hold any margin, and asks ‘How can anyone in Europe sleep tonight with cash in the bank?‘
From Jim Sinclair:
Next week is the war between manipulation of gold by the West, and appetite for buying gold in the East, both from friendlies and enemies. Anyone that does not see today’s gold market as a rig is blind or brain dead. There is a full blown crisis in Western world banking today, right here and now. There is a full blown crisis in sovereign debt of some weaker nations as in a very short while certain government will be out of money. The Eurosnobs hate each other which does not make for a fast reconciliation of a crisis.
It is a myth that Western banks are strong enough to weather the storm of a full blown banking crisis in Europe.
It is a myth that the Federal Reserve will stand as the one hawk in the Western world and fiddle while it’s Rome burns.
It is a myth that Obama could be re-elected if the Fed remains intransigent.
It is a myth that Finland or Germany will strike a match to the euro that totally wipes out the largest part of their exports.
It is a myth that governments are ready to face the economic, social and political fallout standing austere as their economies implode, which they will.
It is myth that there is any recovery in the USA. By falling more we will be in a depression.
It is a myth that because thousands of bears email me that somehow they can convince me of the opposite when I know I am correct.
Next week will be the time the cartel tries to break the gold price again. They have failed seven times, and will fail on the 8th. Gold is going to $3500 and above. All the lying and conniving only means the price will go higher. Just as Morgan’s whale could not fight the market, the cartel cannot fight gold as we have a flight away from all fiat currencies.
How can anyone in Europe sleep tonight with cash in the bank, even amongst the stronger nations whose banks are loaded with weak nation’s paper. The house of cards is coming down right now. Trying to manipulate the price of gold to hide the crisis at hand is futile.
If you have your positions on margin you are crazy and I cannot do anything for you. All others stand tall because gold will trade above $3500 and not in some LaLa Land future of Armstrong’s imagination.
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LMAO I’m going to sleep great tonight and I have $600.00 in the Bank. LMAO But a hell of a lot more in Physical. LMAO and That’s No Myth. LMAO
Didn’t Mr smarty pants say last week two smack downs ago we won we won!
I don’t understand the reference to Armstrong.
balz,
Thanks Marshall.
But isn’t Armstrong considering buying gold? His point, IMO, is that the flight to safety will make US dollar best BEFORE gold is. So I don’t understand why Sinclair says Armstrong believe gold will only get there in lalaland. Correct me if I am wrong, but Armstrong believes gold is a very good investment as well…
You have to read Armstrong’s article to get at what Armstrong is really saying.
I would love what Jim says to be true
The concept of ‘paper markets’ began as a variety of the self-liquidating
Real Bill negotiating, trading and clearing mechanism for reasonably projected
production of commodities, but when banks (especially government legitimated
central banks, seeking to replace all Real Bills with Loan of their proprietary
‘trade facilitation instruments’) took control from strictly private
individuals (in their hundreds of thousands), they were metamorphosed into
their present state of pure gambling. However sophisticated the statistics
underlying the betting ‘systems’ (card-counting at Poker comes to mind), they’re
now near wholly divorced from actual production. The object is no longer to
seriously facilitate goods through phases to their ultimate consumers, but a
game played by ‘paper-hangers’.
In their earlier state, they were a valid price discovery tool, because
there was always an objectively substantiated real good moving toward market
that the ‘contracts’ reflected, but with nothing more than sheer opinion behind
these wagers, their ‘price discovery’
moniker is nothing more than a ruse aimed at the gullible.
Thanks for the explanation Pat. Sometimes we see what is happening but don’t know how things get started. I know the original intentions of the paper market were probably good but it has now morphed into a scheme that constantly takes down the common investor with just a keystroke or algo. Will people actually wake up to this or will they go on as they are? Thanks again.
Here’s one way to sleep at night in Europe…
(Banker serrates himself to death over stressful IT issues….)
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9376436/Stressed-Bank-of-England-official-stabbed-self-to-death.html
Don’t know quite what to make of this story…Dymond – Dimon – Diamond…
DIE MON!!!! Is it crypto-fascist code for end-game mania!?!
Is it a warning to Dimon and Diamond to STFU!?
(You guys about to talk about these things wouldn’t want to accidentally slip and
slice your heads off while shaving, now would ya?)
How do I sleep at night? On a giant stack of 1oz silver rounds.
The video cannot be shown at the moment. Please try again later.
2 Oz, you asked “Will people actually wake up to this or will they go
on as they are?”
Well, folks are brainwashed into the pre-conception that these ‘exchanges’
are actually price-discovery functionaries. What has to come about is a
re-education on how price is most objectively derived from true rational
supply-demand factors. That’s OUR role in this and other forums. Hell, I
imagine folks WANT to know how things REALLY work, since it affects every minute
aspect of their lives and the futures of their progeny, so I see it as
something of an obligation to illustrate it..
On the other hand, if government offices are re-populated with constitutional
loyalists in the Jeffersonian (as opposed to Hamiltonian) tradition, we can
revert these exchanges back to their Real Bill formats, limiting their contract
volumes to the underlying goods involved, with final settlements ONLY in real
merchandise.
Wagering, of course, is a matter of personal liberty, but ought to be
definitively separated from the REAL WORLD of production and any tangential connection
should bear absolutely no legal effect on the Real Bill exchanges … much the
same as ‘sports betting’ has no effect on the career statistics of any
individual competitor … with very sharp lines of demarcation being drawn
between them.
That’s a very good analogy (sports betting) Pat. Never thought of it that way. Yes, I agree, this and other forums will help wake them up, but, we need to find a way to peak people’s interest in this and other sites that want to get the word out. DOC? Most of the people here already know what’s happening. I’ll have to think hard on how to advertise these sites. Once again, thanks for the excellent answer.
On 6/29 Sinclair had a post on his site that a new cycle was beginning and gold should rally for at least “15-20 days before the next short-term correction.” Also, concerning miners, “This should be a multi-year low that will not be violated until the secular bull comes to an end.”
Now this wasn’t words from Sinclair itself but one would assume he thought it was accurate if he endorsed it.
So, has he changed changed course?
On the other hand, if
government offices are re-populated with constitutional loyalists in the
Jeffersonian (as opposed to Hamiltonian) tradition, we can revert these
exchanges back to their Real Bill formats, limiting their contract
volumes to the underlying goods involved, with final settlements ONLY in
real merchandise.
That is an interesting idea but right now, I don’t think this is possible. Right now we have the Production & Consumption economy running in parallel with the FIRE (Finance, Insurance & Real Estate) economy. So much money has already been created over the last 40 years the FIRE economy has ballooned up. Some argue the point that we have already seen the hyperinflation caused by money printing and it is mostly up in the FIRE economy.
If that money in the FIRE economy doesn’t have a place to park, it will have to move somewhere else and the only place to move is into hard assets in the Production & Consumption economy. Guess what that would do to CPI prices? We are talking north of $50 trillion worth of ‘wealth’.
With that said, the FIRE economy is starting to deflate in-spite of all the money being thrown to prop up equities and bonds. Soon the money up in the FIRE economy is going to get scared and try to hide in the Production & Consumption economy anyway. So at that point, you may as well say “The damage is done, lets make sure things are reasonable going forward.” Real Bills would be especially useful if we do end up with precious metal backing to the currency in order to reestablish confidence in it.
Nice link Minnow
With all this talk by Sinclair of his most important email since 2001, the RIG being over, the 8th try to smash gold coming this week, and his seeming excited references to 3500 + + + (no longer rehashing the $2111 level he always seems to mention), something tells me that Sinclair knows something we don’t know (or that I don’t know anyway), and that he’s trying to keep a lid on it as he has to while giving as many cryptic clues as he’s allowed.
This is what it seems like to me.
Proverbs:
A few years ago Sinclair was saying ‘gold would go to Alf’s (Fields) number’ which as I recall was around $10,000. So has Sinclair reduced his expectations to $3,500?
Anyone that argues with the man that called the double top in Gold 30 in 79-81 to me seems like an idiot. I have 2 MBA’s (Which are realistically about as good as any other paper out there then TSHTF and I can use them to start a fire) Jim has lead me to some amazing education and discoveries.
So many of the people that argue with him are wanna-bes Hes a super super Rich guy by learning about all the waves in gold…he sold the physical at 850…then sold all the stocks at their high…bought back at the lows which he called afterwords. Hes riding the wave on a gold surfboard the second time. I think this guy knows when to ride the pipe and when to bail, he is sorta KNOWN for it.
IMO
Hi Silver Alert,
that’s a great question: my answer is that I don’t know, because I have never talked to Sinclair and OI have no insider knowledge.
I’ll say this though, Sinclair and many others seem to be expecting $10,000+/oz gold.
The fundamentals indicate $10,000+/oz gold.
The insiders who know the Bilderberg-level elites seem to indicate that such levels are in reach when the system crashes (“when” they say, not “if”).
Comparing my lack of knowledge and connections to Sinclair’s experience, knowledge and connection, I’d defer that question of yours to him. He’s better able to defend his own comments.
I will say this though, Sinclair seems giddy of late, and so judging by the tone of what he’s writing and the content (cryptic as it may be), I’d say it seems like something’s up.
We will see, will we not
Have a good week.