More about predicting the bottom in the Gold Market
Q: James Sinclair is predicting that gold will rise to $50,000 per ounce. Do you agree?
Market Commentary by Arthur Fixed
A: James Sinclair, also sometimes called Mr. Gold, is a registered investment advisor in Marin County, California, USA. I am not an investment advisor. I am a speculator. I am not promoting gold investments. My income is not dependent on my selling investment advisory services or gold mining company shares. Mr. Sinclair was one of the very first so called Gold Bugs and famously has made some very good predications concerning increases in the USD price of gold. He is and has for some time, been predicting a currency reset and a hyperinflationary collapse. He may, in time, be right. I expect, at some point, that the establishment will want to push the price of gold higher. A reintroduction of gold into the monetary system at $50,000 per ounce would permit the establishment to default on outstanding obligations and restart the inflationary process all over again. This may be to their benefit if they own most of the gold at that time. There are many other possibilities. It is not however relevant to calling the low of the gold shares market in the short or medium term.
Jim Sinclair – Silver Will Be Gold On Steroids In Coming Rally
On gold, Sinclair says, “I didn’t call the top in gold in 1980 because of any kind of a system. I was told, I acted on what I was told.”
His sources are talking again, and Sinclair says he was told: “Number one, the downside on gold is extraordinarily limited here. Two, the rally we are facing that will come in gold is going to be stupendous. Three, they tell me we may never call you back because this may be the rally you don’t sell. This may be the rally you don’t sell because gold is moving from a currency form to a valuation form. . . . This may be the last time we call you means this is a rally that is not meant to be sold. What is coming up in front of us is the Great Reset where currencies wear their gold like ladies wear a necklace, and the most beautiful necklace will be the strongest currency. The ladies without the necklace won’t be invited to the ball. Huge changes are coming. The dollar is always going to be with us, and the yuan and all of the currencies are still going to be there. We are not going to one single currency. The SDR (Special Drawing Rights) is nothing more than a glorified index of currencies. It’s a cure to nothing. How can a package of junk cure the problem of junk? It can’t. The two last men standing will be gold and gold on steroids—silver.”
Greg Hunter goes One-on-One with renowned gold expert Jim Sinclair of JSMineset.com
Renowned gold expert Jim Sinclair stands by his prediction last year of an eventual gold price of $50,000 per ounce. Sinclair explains, “You have to understand we are going into unprecedented deflation, and it’s the reaction of central banks around the world to the concept of deflation that brings about hyperinflation. . . . There will be debt monetization of all kinds of debt to maintain some sort of equilibrium. The price of gold is going to go to a level that is going to surprise everybody. I was told that this is a rally that you won’t sell. That means gold will go to a level and not react violently down from that level. . . . This is when gold is going to levels that today are considered more mental illness than monetary analysis. Silver is best understood as gold on steroids because whatever potential and direction is taken up by gold, silver will be multiplied by 2 or by 5. . . .Silver will outperform gold.”
Source: Plunge Protection Team Losing Control of Markets-Jim Sinclair
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