Jim Sinclair Prediction - gold to $3500 in 1 to 3 years

[HCA1961]

The Rig Is Up
Posted by Jim Sinclair on July 3, 2012 @ 5:16 pm in General Editorial

My Dear Friends,

Gold will go to and above $3500. This is the most important message I have sent you since 2001.

There are very few of us dynamic thinkers that see everything as a trend constantly in motion. Anyone can be a static thinker, quoting recent economic figures or news headline (MSM), and coming up with a usually wrong opinion.

The change today is that the "Rig Is Up."

The Bank of England turning their backs on Barclays, the company who did their bidding, will be the event in time marking the trend change.

Many of us in our areas of activity will successfully fight the Riggers. The many complaints that so many of you kindly sent in to fight manipulation released the Kraken in me.

The Kraken is back in its cage where it belongs. The paper trail is there. The worm has turned. Even more importantly is that this fight in the $1540 gold price area was not for regaining the old high in gold. The six attempts to kill gold, supported by some gold writers looking for favors from the riggers was a now failed attempt to keep gold from trading above $3500.

The battle to stop gold has been lost.

The start, like all starts towards the old high and well above, should be slow with more unfolding drama. It will build on itself but gold will trade at and above $3500. I am now as certain of this as I was over ten years ago when I told you gold was headed for $1650. I knew that as fact and to me from $248 gold was trading at $1650.

My job now is to define gold’s full valuation for you when it occurs. The timing is no less than one year from now to a maximum of three years from now. I believe I will be able to do that for you.

This is the most important message I have written you since early in 2001. I write this with total intellectual and spiritual certainty.

Respectfully,
Jim

URL to article: http://www.jsmineset.com/2012/07/03/the-rig-is-up/


What do you all think??

Oh, and Happy Indepedence Day, my fellow patriots!!

 

[pmbug]

http://www.pmbug.com/forum/f4/barclays-fined-manipulating-libor-rates-1182/#post11191

:beer:

 

[HCA1961]

Sorry, Bug!
I forget where I read what.

 

[ancona]

If you want some laughs, over on ZeroHedge they are live streaming the parliamentary ass chewing being given Bob Diamond right now. So far it has been pretty softball, with Diamond being recalcitrant and refusing to give straight answers, frustrating MP's in their efforts to sort this out. Either way, this is only going to get bigger. The damage has been done and I think the reputation that London has had for four centuries as the worlds banking hub is irretrievably harmed. Look to Singapore to lobby for the business.

 

[KMS]

Eventually even the politicians might grow tired of the bankers taking the stand and giving zero answers. When that happens I hope to see instant gratification for the masses as the Sergeant at Arms apprehends that scumbag and takes him away in cuffs on live TV.

 

[kjansen1969]

No matter whatever they do on their part to confine gold, it's price will continue to increase since-

1. It's a limited natural resource

2. It's expensive to mine and refine and they are becoming more expensive as days are going by.

3. It's usage are two fold: as commodities as well as currencies

Paper money will always be papers and they will have no other usage other than means of transaction. On the other hand, gold can serve may purposes simultaneously.

Many governments have started to think for increasing their gold stocks and once they go in buying mode, situations will change radically.

 

[bushi]

No matter whatever they do on their part to confine gold, it's price will continue to increase since-

1. It's a limited natural resource

2. It's expensive to mine and refine and they are becoming more expensive as days are going by.

3. It's usage are two fold: as commodities as well as currencies

Paper money will always be papers and they will have no other usage other than means of transaction. On the other hand, gold can serve may purposes simultaneously.

Many governments have started to think for increasing their gold stocks and once they go in buying mode, situations will change radically.

I do not necessarily agree, there is a very simple thing that "they" could do to decrease the appeal of gold/increase the "paper" price vs gold - stop fecking printing money in truckloads, that's "the only" thing that's needed. But in practice and by design in current monetary paradigm, to stop printing presses, is unthinkable, and even algebraic impossible, without collapsing global monetary system and thus the economy, so IMHO you are right in your summary that gold will rise in price/value, only for the wrong reasons

 

[DCFusor]

Just to re-inject the meme - gold's value (what you can buy with it) stays fairly stable. What we are really talking about here is devaluing the dollar to 1/3500 an oz of gold. Likely...but to what real effect?

If you stick to the same items as from cowboy days, you're about even right now.
Gun/rig, new suit, night on the town - 1 oz more or less.

Luckily, things you couldn't get for any money at all then are now available, so the picture is a little more complex in terms of the wealth we all have. Couldn't buy my Volt for certain, or penicillin, (or electricity, solar or otherwise!) for just some examples of the growing wealth created by those who do something other than just push paper around.

Now, paper with engineering drawings for a new wealth creator is the type I think it's worth pushing around, not this silly green crap. But for it to have value, it has to have ideas on it - it's the pen, not the paper!