February 11, 2013, at 2:50 pm by Jim Sinclair in the category In The News | Print This Post | Email This Post My Dear Friends,
What does Russia know that is motivating their purchase of gold? What does China know that is motivating their intend to be the world largest owner of gold? What is behind the downside manipulation to separate you from your gold by scaring the hell out of you and you out of your positions?
This occurred in the 70s. It is nothing new. What is new is you.
The answer is very simple. Gold is not valued at $42 as the US Treasury would have you believe. The majority of the BRICs are going to mark to market valuation of their gold. That will put a necklace of gold on their currencies.
It is the major gold banks now operating in hopes of producing a waterfall of gold into which they will accumulate. Believe me because I know.
You are being royally had. You have a defense even if you are fully committed on a cash basis – simply do nothing.
If you are a coward, admit it and do whatever you have to do to get it over with. That certainly will memorialize the bottom before gold trades over $3500.
I can help people with logic. I have no hope of herding cats.
Sincerely, Jim
AMX Price at posting:
35.5¢ Sentiment: None Disclosure: Held
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