Tuesday, April 27, 2010

Could Jim Sinclair Be Correct About Gold?

Jim Sinclair: Start Of Gold To The Stratosphere

Gold has been rallying for awhile -- nearing all time highs in the dollar, even while breaking all-time highs in the euro -- but the metal's action hasn't been all that noteworthy.
That changed today for, as David Goldman at Asia Times notes, it stopped trying like a regular commodity and actually bucked them.
One session doesn’t make a trend, to be sure, but if the central banks are flooding the world with currency to support a massive bubble in government debt, the possibility of a portfolio shift out of currencies into gold has to be considered. And if this happens, gold (as I’ve said any number of times) has no natural ceiling. What will China do? The Chinese got burned on subprime and again on PIIGS debt. They stopped accumulating US Treasuries months ago, and have no reason to buy Bunds given the misery of the prospects for the Euro.
As you can see in this chart, via Kitco, the metal basically rocketed out of the gate, making a big power-move all day.
chart
Link Here..


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30 comments:

  1. I do not know if Sinclair is right. However, I think the collapse is coming this summer, early summer. Around July 14th. I also think civil unrest is just days away starting in Phoenix, AZ. Then spreading to L.A. and Chigago within 24 H.R.S.

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  2. Jim Sinclair stated that GOLD will head into the stratosphere starting in a few days. He may be right. He studies the bond markets. Look at PIGS.

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  3. The only thing that will send gold into the stratosphere is the collapse of the dollar which is coming in the next year or two. In 2011, many will look back and see they could have been buying gold at $1,150 right now and they'll weep..

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  4. Gold and silver are great but so is guns and food...In an Argentine/Mexico type of financial collapse it's having the essentials over wealth in the form of gold.

    Not disagreeing with you just saying throw in some ammo and weapons, meds, cigs and liquor and it could actually be better.

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  5. Absolutely 4:05, food, WATER, guns, etc FIRST before any PMs. I love PMs but even I know I can't eat them or throw them at an intruder.

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  6. I watched some videos of Jim Sinclair and he seems like an honest guy. That means a lot to me. You can usually tell a con man or crook right off.

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  7. 4:24 how many american dollar bills have you eaten lately? Makes me laugh when people state you can't "eat gold"..
    but you can trade it for everything in this world in about 3-6 months. They will be bowing at your feet for it

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  8. Yes, 4:36 but if it is really bad for an extended period of time there won't be a whole lot of trading and commerce going on.

    More like ducking for cover and entrenching in a defensive posture. Gold is great, but the things you need first are WATER, FOOD, shelter, protection.

    I guy with stacks of gold and none of the above is screwed.

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  9. Can't afford silver or gold but want to have something incredibly valuable to trade when SHTF? Store up water.

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  10. 4:48 I disagree. For thousands of years GOLD has been used as a currency for trade. All of a sudden it will not for a "period of time"? Not gonna happen. I'll trade my GOLD for your guns, food, shelter etc. just like it has been doing for thousands of years.

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  11. Yawn.

    We still have time on our side.

    Of course, if you're unemployed and don't have the initiative to hire yourself in a simple, street-type sales business, you don't have time. You're already there.

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  12. He could be correct, this is why I am buying silver, as anyone who lives in reality knows silver is even more undervalued than gold.

    Now go back to watching your basketball games and SHUT-UP!

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  13. Can't afford silver or gold but want to have something incredibly valuable to trade when SHTF? Store up water.

    I live on the north shore of Kauai. We get 85 inches of rainfall per year. Next suggestion.

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  14. I agree with you Noodles about the ammo and food, but disagree about the cigs and alcohol. I thought it would be wiser to ween off of addictive habits during the waiting period. I just quit smoking 3 months ago, I've been working out alot (I already had muscular development but not the endurance) this way I'll be able to run and last long in gruelling situations, fortunately it doesn't take much to be advantaged over the 60% obese population and many more who are sick or wimpy.

    Also I'm practicing going Spartan so that I don't need much luxery or entertainment and can be able to just sit and do nothing with other focused people. So by that it isn't hard to get advantaged over the majority of the population who are obsessive net, television, and cell phone users whose world will end when they can't use it anymore.

    Though I don't know how to use a gun... that probably sucks but I'm not in a city and I'm young and in shape it won't be hard for me to bribe older people or other groups who have guns and lots of food to let me do labor work for them if I can get shelter and food.

    I think I'll be pretty good after the first 30 days when most people have been maimed then I can go out and find some friendly survivors. It will be fun after that when we sit around camp fires or whatever.

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  15. 7:15 Hey when I said cigs and liquor it wasn't for me...I bartended so hardly drink or smoke...Whenever you're in that type of atmosphere you either become a chain smoking drunk or the opposite...I was lucky.

    But if you notice in every financial collapse for example the one in the USSR...There are certain things that become not only luxuries but coveted...IE toilet paper/cigarettes/good coffee and liquor...Especially cigs!

    OMG have you ever seen someone trying to wean themselves off cigs? I've been told tha in the prison reception centers in california ONE cigarrette was going for $5-$10 and ONE bag of Buglars loose tabbaco was going for $600-$800...Usually retails for like 13 bucks at Walmart...So need and want make it a highly prized commodity.

    Sad but true...By the way...It's highly recommended that Whiskey and Vodka bottles be the little airplane ones...Barterlicious!

    Vodka has like 10 vital medical and industrial uses.

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  16. CHUCKLES THE CLOWN BROKE ANOTHER RIBApril 27, 2010 at 11:51 PM

    HAHAHAHA

    Once again Chuckles the clown checks this site for his daily dose of laughter,LOL.

    How many phucking times will this tom foolery be posted about these lofty heights and "stratospheric" moon shot?

    Has Jimboy SINclair lost his marbles? Or is he just another paid shill in the war to get people to spend it all?LOL

    Once again, thanks for the laughs!

    LMAO

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  17. Screw everyone else. Those who have the gold will rule. Get used to working on my farm biatches.

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  18. The "world reserve currency" status of our US dollar will be lost. Perhaps the transition will take a few years or another decade or two. But it's fairly easy, intuitive, and natural to understand that this will happen.

    And the silent battle between the $IMF and the BIS goes on.

    It's far from the end of the world, but one word that you're probably starting to hear more often will become the norm... austerity.

    austerity is when a government reduces its spending and/or increases user fees to pay back creditors. Austerity is usually required when a government's fiscal deficit spending is felt to be unsustainable.

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  19. I could swear we went over this a few days ago.
    Sinclair is always saying that gold will go to moon. He's not the only one. Chapman also says gold will eventually go sky high.
    Problem is you never know what the Powers that Be have up their sleeves.

    Gold goes where THEY want it to gold. The Gold price is set everyday by the Rothchilds in the City of London (not to be confused with London the City which is under the jurisdiction of the Queen of England).

    Gold will go hi over time but it may take some time. We got time. Just stack your gold chips and sit back , have a beer, and know that in a couple of years you're gold will be worth a lot of money compared to most peoples fortunes.

    Course, gold might be worth nothing if civilization breaks down to the point we're nothing but mad max roving biker gangs with M60 infantry weapons 'borrowed' from US MIlitary installations.

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  20. Course, gold might be worth nothing if civilization breaks down to the point we're nothing but mad max roving biker gangs with M60 infantry weapons 'borrowed' from US MIlitary installations.

    “Civilisation” breaking down ?
    do you mean in the U.S. too?

    Otherwise what you are describing Sounds like the paid mercenaries turned lose in Iraq, Afghanistan , and threatening Iran etc. etc.
    A trillion dollars going to the military this year?
    Civilisation?
    Mad Max as a bankrupt rogue state?

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  21. I hope it doesn't go much higher in the next few months, because I don't own enough of it. I still need the dips to purchase more! STAY LOW! I beg of you!

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  22. It will be tied to the performance of the dollar. If/when the Dollar Bubble pops, gold & silver take off. Let's hope it's not this year.

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  23. Jim Sinclair is a very honest and caring man. After I had a heart attack I had fax'd him about some PM questions and he actually called me at home to talk with me and my wife. He is very caring and if you look at his resume and who he has worked with and for he has the inside story on many many issues.

    A true gentleman IMHO............

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  24. CHUCKLES THE CLOWNApril 28, 2010 at 5:10 PM

    7:23 is so full of shit I can smell it over here. He might be a caring man but that does not make him an expert on stratospheric gold.
    LMAO
    HAHA

    Thanks again for the chuckle

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  25. Yep, Sinclair is the real deal. 2:10 is a maggot.

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  26. CHUCKLES HAS SCHOOLED YOU AGAIN!April 28, 2010 at 10:13 PM

    @2:10, I am Chuckles, not a maggot. I know reality, unlike many of the other maggots here who think they have the "inside track" on Armageddon,LOL
    HAHA
    CHUCKLE LAUGH LOL LMAO

    Class dismissed bitches, you have been schooled again. Today your homework will be to read up on the book called "A DOSE OF REALITY"
    for those that feel they can get on with life without these fairy tales of gold going to the 4th dimension

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  27. THere is something wrong with this 'Chuckles' character. It's like he wants to be so blatently anti-gold without precedent or evidence as to force you to KNOW that he's trying to block an obvious truth. Therefore, he's actually running an almost purposeful anti-game such that people will buy gold.

    Could it be that Chuckles knows something about gold we don't?

    The governments of all the worlds shall ban gold outright. No one may have gold but for industrial purposes. It's a commodity only. It shall not be allowed to be any kind of currency.

    All gold shall be under the jurisdiction of the IMF.

    Plausible scenarios.

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  28. Chuckles and Jesus Freak are the same person. No two people could be so ignorant. Paid government shill or simply a retard that I will pass over in the future.

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  29. gold is over 1175 right now.

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  30. gold at 1180.70 right now

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Everyone is encouraged to participate with civilized comments.