The legendary Jim Sinclair
(who called the current bull market before anyone over a decade ago)
has long maintained that the bullion banks would make the lions share of
the profits in this massive secular bull market, not the average gold
investor.
Sinclair has sent an alert to metals investors today, advising that the current massive take-down in the metals is the end-game, and the Great Train robbery is in progress in which the Goldmans of the world will go massively long in gold.
Sinclair states that as soon as the bullion banks have grabbed every last available ounce of gold they can lay their hands on, gold will EXPLODE to $3,500.
MUST READ!
From Jim Sinclair:
Sinclair has sent an alert to metals investors today, advising that the current massive take-down in the metals is the end-game, and the Great Train robbery is in progress in which the Goldmans of the world will go massively long in gold.
Sinclair states that as soon as the bullion banks have grabbed every last available ounce of gold they can lay their hands on, gold will EXPLODE to $3,500.
MUST READ!
From Jim Sinclair:
Dear Jim,
With just about a week of trading left in 2012, Gold in Euro terms could end up negative for the first time in 11 years after making new highs some 3 months ago.
I hear CIGAs living in the Eurozone whining all around me, with friends and family thinking about cashing out their coins “while there is still a profit in them”
I am probably both young (31) and not an expert in markets, but I am fully aware of our current Western world situation.
The following serves no other purpose than to introduce my question as candidly as I can.
You have shown us recently, using technical analysis, that the Euro is currently on an up-trend against the US Dollar, and that you expect the Euro to “outpace the dollar for the significant future”.
On the interview you gave to James Turk at the 2011 GATA conference (right after Gold passed USD 1664!), you said that the USD as a reserve currency was “going to transmit its problems throughout the Western world”, and later that “the trading that will take place between the Euro and the Dollar are purely mirror images reflecting what the flavour of the day is”.
Also, you keep on reminding all CIGAs of the 3rd illustration of the skier, where you have exposed both currencies as “weak US Dollar” and “violent Euro” respectively.
Finally, the past 5 years and 2012 in particular have more than once proved you right in saying “Whatever is required, where ever it is required, be that Euroland or anywhere in the Western Financial world, will be provided”.
Taking all of the above into account, I would conclude that your overall view on Gold in Euro terms is just as bullish as in US Dollar terms.
If 0.72 on the USDX is to become the top for the USD in the future, the Euro would probably trade at 1.40 to the USD (am I too conservative?).
Gold going to and through USD 3500 therefore means Gold going to and through EUR 2500 on the same set of assumptions.
The question now: could we agree the above proposition is valid and is a Golden Truth for all desperate CIGAs living in the Eurozone in 2013 and beyond?
Many thanks for what you do for all of us Jim. Your wisdom and moral qualities are examples for all to follow.
CIGA Pierrafeu
(“Flintstones” in French)
Dear Barney Rubble,
The question now: could we agree the above proposition is valid and is a Golden Truth for all desperate CIGAs living in the Eurozone in 2013 and beyond?
What you have quoted in your emails is the Golden Truth. What is happening now is the Great Train robbery whereby the Goldmans of this world will take a huge long position in gold under the beard of manipulation and control of popular gold guys plus financial TV.
Please tell our Euroland friends to simply hunker down because this is as much of a passing cloud as was every single reaction since $248. Once these blackards take all the CIGA gold they can get, we are off to $3500 and above. This is not something I think. This is something I know.
Respectfully,
JimArticle Source: silverdoctors