I’ve been following this guy for since Jun of this year. Very smart man, and primarily a precious metals specialist and a commodities and foreign currency trader. Worked with Mr. Paul V himself… back in the stagflation era of the 70′s I believe… No nonsense information from his website (he has no ad’s and updates daily, awesome information).
This is a message from him…
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Posted On: Thursday, October 09, 2008, 10:17:00 PM EST
Gold and Dollar Market Summary
Author: Jim Sinclair
Dear Friends,
Gold is about to VAULT UP.
I am reliably informed that the paper versus bullion gold war is lost by paper gold at a $930 close.
Gold will vault to slightly under $1000 then get pushed back, but not much at all. Directly after that we are off to $1200.
A Bank Holiday is moving from possible to PROBABLE.
* Have you fully protected yourself?
* Have you distanced yourself as much as possible away from financial agents holding your assets?
* Have you gotten paper certificates for your shares or became a direct registration book entry at the transfer agent?
* Have you protected your retirement accounts the same way as your shares above but in the name of the retirement account and the trust holding them?
* Have you closed your Money Market fund accounts regardless of what assurances your bankers offer?
* Have you withdrawn from your Credit Union?
* Have you exited your corporate retirement fund?
* Do you have significant gold and related shares investments?
It is getting UGLY out there as each day an attempt to postpone a bank holiday fails. Almost every other day lately financial leaders of the world have announced new plans that were “the final answer” to the super-glued credit market. All these plans have had no effect. The Dow fell like a rock off a cliff.
This says all efforts have failed.
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Dow went down again… funny part is, back in September the SEC and the FEDs stated the financial stocks are going down because of the “short sellers”. I cannot believe they banned that for the last few weeks. Now, they took off the ban of short selling (while the market still was going down) and yesterday it plummeted again… these people who are saying that everything was OK, and the economy was in good shape are the ones who are telling us what solution is best… kinda makes you wonder…
Here’s my humble opinion on whats going on… I believe we are doing to a deflationary period, which I think we have been in for the last several months. Price of curtain commodities, actually all asset levels has been coming down. Only thing which has any life is precious metals. Anyways, Feds know deflation is a killer to the economy, while inflation has the benefit of paying of debt at a discounted amount. Next will be the inflationary period..
Oh, funny thing happened the other day… I went to play basketball at a local park and suddenly one of the buddies I used to be teammates with asked me about GLD. I was shocked!!! He stated his family friend stock broker told him to pick up some shares… this was on Wednesday, when GLD, SLV, HUI, CGLD, IAU, GDX, ABX, and other jr. mining stock had its record break… At that moment I knew I was in the right market. I’ve been dabbling with GLD since early Jan. of this year… and it has paid off.
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