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Sinclair - Gold Will Now Be Released To The Upside
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TOPIC: Sinclair - Gold Will Now Be Released To The Upside
#22397
Sinclair - Gold Will Now Be Released To The Upside 1 Year, 4 Months ago Karma: 124
Jim Sinclair believes gold is now ready to start moving in the upward direction.

An interesting article, time will tell if he is correct!

(Note: this is on Jim Sinclair's site, but links to KWN. I hope it is acceptable to post, since it is Mr. Sinclair's interview)

www.jsmineset.com/2013/02/27/gold-will-n...eased-to-the-upside/

Gold Will Now Be Released To The Upside
February 27, 2013, at 12:41 am

Dear CIGAs,

With wild trading in key global markets, including gold, today Jim Sinclair, who has been actively trading the markets for over half a century, spoke with King World News to let KWN readers globally know what to expect in the gold market going forward. Below is what Sinclair, whose father was business partners with legendary trader Jesse Livermore, had to say:

Eric King: “Jim, there are a great many pieces discussing the COT report, can you talk about that?”

Sinclair: “I’m just going to ask you a question and give you a definitive answer: The question is, do you really believe the people (banks) who manipulated LIBOR are absolutely, totally, and completely honest on the figures that they render to the CFTC on the position of traders (COT)? The answer is, of course not….

“Everybody in the trading industry, even those who should know otherwise, puts so much faith in looking at what they think is the commercials’ confessional. They believe they can read, through the COT, the commercials’ intentions. That’s just total nonsense. We’re living in a new normal, and one part of the new normal is that fabrication is a virtue.”

Eric King: “With regards to Stephen Leeb’s comments yesterday on KWN where he was predicting that before this is over, gold will be a larger percentage of total reserves then it was in the 1970s, your thoughts on that? Is Leeb correct in that prediction?”

Sinclair: “He’s absolutely right in what he said because there is a very quiet trend taking place where you see the reserves of gold rising, looking towards a 15% level. If you were to take a globe and get yourself a colored pencil and color in each country that has marked their gold to the market, you will understand why, eventually, even those that have manipulated us on the downside will be part and parcel with us on the upside.

Gold is the only tool that is able to balance the balance sheets of the offending deficit spending central banks. There is no other tool. Therefore, the tool (gold) will be used. Just as QE was the only tool to feign sovereigns as financially sound, gold is the only tool to bail them (central banks) out in the end. It’s simply a fact, a reality, and it cannot be denied…

Click here to read the complete interview on KingWorldNews.com…
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#22402
Re: Sinclair - Gold Will Now Be Released To The Upside 1 Year, 4 Months ago Karma: 261
Thanks for the post Debsyl. No, this is not a "technical violation" of the ban on this site on anything from KWN.

Sinclair's words. Sinclair's site. I certainly am not trying to censor any thinking/ideas with the "ban" here on any materials from King World News. This merely reflects their "emphatic request" (made via their lawyers) that we post nothing here on the Forum taken from their site.

As for the excerpt here, I don't have to listen to the full interview to know that Sinclair's reasoning is flawed here. He continues to engage in the impossible fantasy that one day the West (led by the U.S.) is going to suddenly announce they are "backing" their financial systems with gold.

It can't happen.

If you listen to mainstream talking-heads "explain" why we can't have a gold-standard (such as the "10 reasons" piece you just posted - lol); one of the reasons usually given is that "there isn't enough gold" in the world.



If the talking-head chooses to reveal a little more, he/she will pull out their calculators and then say given the present state of our economies; in order to "back them" with gold the price of gold would have to be immediately "revalued" to (at least) $10,000/oz.

Understand that these Liars are still not revealing the whole Truth. The reason why gold would have to be "revalued" to some fantastic number is not to back "our economies", but to (try to) back their massive debts.

And here's the absurdity. You can't simply (arbitrarily) "revalue" gold to some enormous figure in any free-market system. What are the silver-producers going to think about the idea of gold (and only gold) suddenly being revalued upward by a multiple of at least ten (mulitplying the profits of those producers)?

Our metal should be "revalued" too. And they will refuse to sell their metal at the "old" price. What are the timber-producers going to think?

"Gee, if gold and silver are being "revalued" much higher; then I think wood should be "revalued" higher too."

What will Big Oil think if there's suddenly a "zero" added to the price of gold? "Me too."

What will the employees of the gold-miners think when their employer's PROFITS instantly soar by 10, 20, or maybe 50 times? "Higher wages." (Much higher wages.)

And after the gold-miners get their large wage increases, what are all the other Serfs going to say about their own (Great Depression) wages? "I want more." (Much more.)

Thus Sinclair's fantasy is sheer idiocy. It's impossible to "back" the economies of these DEBTORS with gold (or anything else in the universe). Not because "there's not enough gold", but because their debts are too large. This means we can NEVER have any gold-backed financial/economic system (at least here in the West) until after all of these Deadbeat Debtors have defaulted on their debts.

Because Sinclair's analysis (in this context) is based upon a hopelessly-flawed premise; we cannot place any trust in the conclusion(s) from that analysis. We all know the price of gold is going to rise dramatically, and we know it will rise "soon".

But it will NOT rise for the reasons given in that interview...

Jeff Nielson
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#22615
Re: Sinclair - Gold Will Now Be Released To The Upside 1 Year, 4 Months ago Karma: 38
MMMMMmmm;

I think any revaluation of gold is based not on a gold-backed currency. It is more in line with the Freegold theory. I do not think that Mr. Sinclair states that the US will revalue their (existing?) reserves willingly.
The theory is that Russia; China the BRICS and EU countries are accumulating gold reserves. I think the Chinese rumoured target is 15 %.

I believe, in a very quick snap shot here, that the theory is that gold being marked to market (the real physical price) will send the valuations much, much higher AND yes "back the debt of nations". Adherents to this line of thought are of the opinion that the US will have no choice when Freegold emerges. It will be the end of the US dollar/Petrodollar monopoly. Anyway Freegold is a very long read and I cannot do it justice in a few words.

In a quick nutshell it basically is a monetary system that separates the store of value (savings=gold) and the medium of exchange.

In the last year Mr. Sinclair has quoted FOA on his site. I have been reading the Freegold theory since I first read ANOTHER on Kitco in 1998. Followed by FOA etc. on USA Gold; followed by reading FOFOA.

Latest on FOFOA is pretty interesting.
fofoa.blogspot.ca/2013/02/checkmate.html...eed:+blogspot/JvXcS+(FOFOA)
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#22619
Re: Sinclair - Gold Will Now Be Released To The Upside 1 Year, 4 Months ago Karma: 38
Found it; Off Mineset in February. Quotes the freegold theory and the relationship of gold/oil purchases. Quotes ANOTHER.

(2-17-13) JSMineset page:

..."Today you got insight from CIGA Patrick on the essential tool gold has been to central banks, a hint of a final price on gold and why it takes almost a generation to return gold to its rightful owners, the Germans, who have made that request of the US Treasury and Fed. That is an article that you should print, read and re-read as it is essential to your understanding of the Golden End Game."...
...

"Jim Sinclair’s Commentary

CIGA Patrick’s contribution to your learning:

Theoretical on the surface but if you will cast aside your opinions and dwell on the concept, theoretical transforms itself into hard reality. Read this a few times before you dismiss it. Assume in this example the one ounce of gold was sold not for $300 but $1600.

Date: Sat Apr 18 1998 19:18
ANOTHER (THOUGHTS!)

"[...] In this modern world, the current value of every asset is formed by a relationship of gold/currencies/oil. This cross relationship is the “very basis of our modern world banking system”!

Through this basis, all currencies are given value as the local government treasuries hold US$ as reserves. The US$ is given backing as it’s government is guaranteed, that all crude oil, worldwide, will be settled in dollars. An oil reserve backing, if you will. And, the “value” that the “future supply of “currency traded “oil” imparts to the world economy, is guaranteed by an “INTERBANK paper gold MARKET” that values “physical bullion” in the Thousands!

I’ll let Another explain:

But, how can this be, you ask? It is done, “right before your eyes” and we see it not! I ask you, if you have one ounce of gold, and sell it on the market for $300, it is worth $300, yes? Now, what if CB hold one ounce of gold, and sell it twenty times, that one ounce is now worth $6,000, no? The difference between you and CB? The persons that hold “interbank” IOU for gold, value it at the multiple of leases/sales made against reserves. This leverage, it is held for performance on bank part. The BIS, it force performance, on any economy! You ask Korea about gold, yes?

This is why oil can take a small amount of physical gold out of world supply, at current “freely traded”, “managed prices”, and hold it at a many times valuation. That is what gives this “new world gold market” much value in trade at high levels. Look even at your “Comex”, and divide the daily volume by the “eligible stocks for delivery”. That number ( perhaps three million ounces divided by 150,000 stocks, deliverable, times the spot close gives close, real world price of physical, $6,000. It follows close to paper trade on LBMA.

You see, “physical gold is of much greater value than public traders can move it for”! In your world, this cannot be, but it is, and will show for all to see in your time.""

fyi
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#22620
Re: Sinclair - Gold Will Now Be Released To The Upside 1 Year, 4 Months ago Karma: 261
zooey wrote:
MMMMMmmm;

I think any revaluation of gold is based not on a gold-backed currency. It is more in line with the Freegold theory. I do not think that Mr. Sinclair states that the US will revalue their (existing?) reserves willingly.
The theory is that Russia; China the BRICS and EU countries are accumulating gold reserves. I think the Chinese rumoured target is 15 %.

I believe, in a very quick snap shot here, that the theory is that gold being marked to market (the real physical price) will send the valuations much, much higher AND yes "back the debt of nations". Adherents to this line of thought are of the opinion that the US will have no choice when Freegold emerges. It will be the end of the US dollar/Petrodollar monopoly. Anyway Freegold is a very long read and I cannot do it justice in a few words.

In a quick nutshell it basically is a monetary system that separates the store of value (savings=gold) and the medium of exchange.

In the last year Mr. Sinclair has quoted FOA on his site. I have been reading the Freegold theory since I first read ANOTHER on Kitco in 1998. Followed by FOA etc. on USA Gold; followed by reading FOFOA.

Latest on FOFOA is pretty interesting.
fofoa.blogspot.ca/2013/02/checkmate.html...eed:+blogspot/JvXcS+(FOFOA)




Zooey, you have to realize that few (if any) of these people have formal backgrounds in economics. Their views on the gold market may be reliable. Their macroeconomic analysis (and theories) are something else entirely.

It's impossible to simply "revalue" gold in isolation to ANY other asset-class. People who mouth such idiocy simply don't understand economic systems. You think a silver miner is going to sit back and watch ONLY the commodity produced by gold miners be "revalued" by a factor of five (or ten)?

All you're talking about is replacing a system about to crash because it's based on the UNSUSTAINABLE manipulation of markets with a different system based on the UNSUSTAINABLE manipulation of markets.



And precisely how does "revaluing" gold higher (i.e. dictating an arbitrary price) have anything to do with "free gold"? Sorry Zooey, but in many respects these people are PHONIES, and I'm not afraid to call them out on it.
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#22626
Re: Sinclair - Gold Will Now Be Released To The Upside 1 Year, 4 Months ago Karma: 261
zooey wrote:


"[...] In this modern world, the current value of every asset is formed by a relationship of gold/currencies/oil. This cross relationship is the “very basis of our modern world banking system”!

Through this basis, all currencies are given value as the local government treasuries hold US$ as reserves. The US$ is given backing as it’s government is guaranteed, that all crude oil, worldwide, will be settled in dollars. An oil reserve backing, if you will. And, the “value” that the “future supply of “currency traded “oil” imparts to the world economy, is guaranteed by an “INTERBANK paper gold MARKET” that values “physical bullion” in the Thousands!




Zooey, I rest my case.

This "freegold" nonsense is nothing but the SAME (corrupt) system -- except you replace "USD's" with gold...and then you're right back to MANIPULATING the prices of oil, gold, and (of course) the SAME paper currencies.

Note in the (corrupt) world envisioned by Sinclair and his buddies that the SAME criminal bankers would still be in charge of the system.

When you hear ANYONE arguing for anything either than a return to a gold standard; they are either a Liar or an Idiot. You know why "no one" likes a gold standard (including Sinclair)? Because it is a system which CAN'T be manipulated -- and it breaks down (as it did in 1971) as soon as someone tries.

The bankster-loving crowd (like Sinclair) want manipulated markets: it's how they make money as "traders". So they want a new system where the manipulation can (once again) go on for decades (with the banksters doing more stealing) before that new system crashes too. The ONLY thing better about a "free gold" system than the current system is that it somewhat reduces the banksters' capacity to rape-and-pillage.

I don't want the same system with the same banksters merely engaging in slightly less raping-and-pillaging. I want an HONEST system, one in which these banksters have been EXCISED (one way or another).


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#22702
Re: Sinclair - Gold Will Now Be Released To The Upside 1 Year, 4 Months ago Karma: 38
It's impossible to simply "revalue" gold in isolation to ANY other asset-class. People who mouth such idiocy simply don't understand economic systems. You think a silver miner is going to sit back and watch ONLY the commodity produced by gold miners be "revalued" by a factor of five (or ten)?


I would look into this opinion a bit Jeff before you discount it entirely.See i think this is what is happening. Gold reserves are being built up; gold is being repatriated, Nations are questioning the vaults in the US, Will silver travel the same path? Don't know? China has the long history of silver. And I do not think the Chinese have forgotten.

My vote is out still but I think some semblance of the Freegold is coming. Where the vehicle of saver will be separated from the vehicle of trade/debt.

z
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