Jim Sinclair - The US dollar is toast. Gold is headed to $1650 – $1764 now.

MMR

Posted: Jan 08 2010 By: Jim Sinclair Post Edited: January 8, 2010 at 7:33 pm

Filed under: In The News

Dear CIGAs,

This is not a dress rehearsal.

This is the real thing, and has been since you received the email titled "This Is It!"

Take a look at the following list of news topics:

-Tishman Real Estate to miss payment on a commercial loan of over $5 billion on a massive New York apartment complex, the 2nd largest default in commercial real estate loans in history.
-California declares an economic emergency.
-Employment figures stink.
-Apartment vacancies hit record highs.
-Foreclosures are setting new records.
-Consumer credit in the US drops a record $17.5 billion.

All of this is what we have gotten from OTC derivatives and a financial industry bailout of unprecedented proportion.

QE MUST go to Infinity. Talk about the Fed draining is an insult even to Mr. Fred’s intelligence.

The US dollar is toast. Gold is headed to $1650 – $1764 now.

Remember, at $1764 1,000,000 mineable ounces of gold in production will have a gross worth $1,764,000,000.

That is real money. That is honest money.
jsmineset.com

OnlyGoldIsMoney

Indeed....gold never needs a bailout or misses a debt service payment. Real money for 5,000 years is my kind of winning streak.

MMR

Schadenfreude - the trouble with being happy about gold and silver skyrocketing in value soon is facing the fact that our republic as we knew it is finished.

gsa1fan

"The US dollar is toast. Gold is headed to $1650 – $1764 now."

I just checked gold is still $1,138oz 1-10-2010 @9am CST.

Tell ole' JS to define now?

ttown

He's got until early 2011 to make $1650 which he made that prediction in 2002 when gold was a mear $260 an ounce. I wouldn't want to bet agaist him he's always been on the leading edge. It's' a very makeable tarket IMO and he bet anyone a million dollars it would make it, I don't think he had any takers.

PerryHall

<< <i>"The US dollar is toast. Gold is headed to $1650 – $1764 now."

I just checked gold is still $1,138oz 1-10-2010 @9am CST.

Tell ole' JS to define now? >>



Don't take him literally. Now means in the near future and I agree with him.

gsa1fan

ttown thanks for that information. I read now thought 2010. I feel he's right if not low side.

1jester

And I suppose this ongoing "situation" isn't likely to be dollar-supportive.

cladking

<< <i>And I suppose this ongoing "situation" isn't likely to be dollar-supportive.

>>




Thanks for posting these.

I don't know why I find them so interesting but I suppose that it has something
to do with the fact that it seems the shenanigans going on on Wall Street and in
Washington since 1980 are of biblical proportions. This thing is often almost be-
lievable.

roadrunner

Biblical proportions .....you can say that again. There are now news reports of Noah's Ark being dragged out of mothballs.

Sinclair's drop dead date is 14 Jan. 2011. Just by the tone of his posts you can sense even he feels it will occur well before that date. His "this is it" metaphors refer to the start of the banking/credit/derivative crisis back in 2007. Even a slow moving train wreck takes time to come to rest.

roadrunner

BBN

any feel on silver? Any predictions by him? I've been buying heavy amounts of silver lately

MilesWaits

<< <i>any feel on silver? Any predictions by him? I've been buying heavy amounts of silver lately >>



My read on silver from JS is that he views Gold as "Real Money" and silver as an industrial-driven commodity that may or may not rise along with other
"more currency-like/dollar replacement" metals such as Gold.

Miles

BBN

Is that why silver's lagged behind gold on gold's recent ascent? I think I remember silver in the low $20s when gold first hit $1000 in early 2008.

MilesWaits

Not sure about that BBN. Maybe RoadRunner or others could better answer that good silver-relation question.

I do know the dollar was alot lower than it is currently when Gold was first at $1000 and as you say, silver was higher. I do love Palladium and Platinum, too!
Rocket ships, they are......

Miles

fastrudy

In Europe, Silver, as an investment, is hit with a 12-20% VAT (gold is not). We investors, on the other side of the pond, are quite alone when we invest in Silver. But the whole world enjoys tax-free gold.

ChrisRx

The only people that think gold is going to skyrocket are the same people that believe in doomsday.

Armageddin' outta here!

roadrunner

Schadenfreude - the trouble with being happy about gold and silver skyrocketing in value soon is facing the fact that our republic as we knew it is finished.

Probably no one has taken positions in silver and gold to hope for the demise of our republic or economic system. But one could say that the republic was long taken away from us from 1913-1934. The most one can do to help what's left of the republic is to vote for worthwhile candidates, be active, and get your word out. Beyond that each family unit must take the means necessary to insure it survives and hopefully prospers. These days that means placing a bet in the casino of financial instruments, commodities, stocks, and bonds. The fiat world demands one places a bet on something as the days of just saving one's wealth and earning interest have been gone for more than a century. If gold and silver do skyrocket it has NOTHING to do with the few people who are accumulating them considering the total net value would be only tens to hundreds of billions of dollars. The entire "offical" US gold stocks are only worth $300 BILL (264 MM ounces). One must really look at the debasement of the dollar which is on the order of tens of trillions of dollars which ultimately drives the PM prices. None of us individually can turn the course of where the dollar is headed, unless someone here is slated to be the next FED Chairman, Secretary Treasury, or CEO of JPM or GS. We get to vote once every 2 to 4 yrs for candidates who stand for pretty much the same old thing and then place our bets to bet/ensure our financial survival. And fwiw, gold went up 25X in the 1970's (equiv to gold reaching $6400 today) and the republic was far from finished.

JS never talks much about silver if at all. But it doesn't mean he doesn't have some stashed away either. Note that silver lagged gold throughout the entire 1970's bull run until the very last year. So up until early 1979, gold outperformed silver over that stretch. JS and others have mentioned that silver will likely outperform gold towards the later stages of the current bull run. In the 1970's the silver market had the Hunts as huge proponents of physical silver yet even they couldn't distort the market until 1979. This time around we have the JPMs who have distorted the market in the opposite direction. So maybe silver shifts to mania mode long before it did in the 1970's.

roadrunner

jmski52

Probably no one has taken positions in silver and gold to hope for the demise of our republic or economic system. But one could say that the republic was long taken away from us from 1913-1934. The most one can do to help what's left of the republic is to vote for worthwhile candidates, be active, and get your word out. Beyond that each family unit must take the means necessary to insure it survives and hopefully prospers. These days that means placing a bet in the casino of financial instruments, commodities, stocks, and bonds. The fiat world demands one places a bet on something as the days of just saving one's wealth and earning interest have been gone for more than a century.

And the final nail was hammered into place in 1971 when the whole world went fiat by way of the dollar as the international trade unit whose link to gold was broken by Nixon.

The more I read about Roosevelt, the less I like what is going on now.

Jim Sinclair is about as right as one can be in terms of finance.

renman95

<< <i>Probably no one has taken positions in silver and gold to hope for the demise of our republic or economic system. But one could say that the republic was long taken away from us from 1913-1934. The most one can do to help what's left of the republic is to vote for worthwhile candidates, be active, and get your word out. Beyond that each family unit must take the means necessary to insure it survives and hopefully prospers. These days that means placing a bet in the casino of financial instruments, commodities, stocks, and bonds. The fiat world demands one places a bet on something as the days of just saving one's wealth and earning interest have been gone for more than a century.

And the final nail was hammered into place in 1971 when the whole world went fiat by way of the dollar as the international trade unit whose link to gold was broken by Nixon.

The more I read about Roosevelt, the less I like what is going on now.

Jim Sinclair is about as right as one can be in terms of finance. >>



TR and FDR.

fc

<< <i>And I suppose this ongoing "situation" isn't likely to be dollar-supportive.

>>



LOL. You guys and your internet links full of BS.

Lets take just one point and smash it to pieces.

"INTERPOL’S DIPLOMATIC IMMUNITY AND HABEAS CORPUS"

It is not full diplomatic immunity.
Interpol has no police force. It conducts no investigations. It doesn't arrest anyone.

These are the additional privileges granted to Interpol:

Section 2(c), which provided officials immunity from their property and assets being searched and confiscated; including their archives;
the portions of Section 2(d) and Section 3 relating to customs duties and federal internal-revenue importation taxes;
Section 4, dealing with federal taxes;
Section 5, dealing with Social Security; and
Section 6, dealing with property taxes.

That's it. How exactly does that make you less sovereign?

This move by the Obama administration puts Interpol on the same
footing as the International Pacific Halibut Commission. Oooh, scary!

-------

I just cut and pasted the relevant bits from an online discussion of
the grant by Obama.

renman95

<< <i>

<< <i>And I suppose this ongoing "situation" isn't likely to be dollar-supportive.

>>



LOL. You guys and your internet links full of BS.

Lets take just one point and smash it to pieces.

"INTERPOL’S DIPLOMATIC IMMUNITY AND HABEAS CORPUS"

It is not full diplomatic immunity.
Interpol has no police force. It conducts no investigations. It doesn't arrest anyone.

These are the additional privileges granted to Interpol:

Section 2(c), which provided officials immunity from their property and assets being searched and confiscated; including their archives;
the portions of Section 2(d) and Section 3 relating to customs duties and federal internal-revenue importation taxes;
Section 4, dealing with federal taxes;
Section 5, dealing with Social Security; and
Section 6, dealing with property taxes.

That's it. How exactly does that make you less sovereign?

This move by the Obama administration puts Interpol on the same
footing as the International Pacific Halibut Commission. Oooh, scary!

//////

Have you seen the International Pacific Halibut Commission? They reek and are some scary dudes!

/////

-------

I just cut and pasted the relevant bits from an online discussion of
the grant by Obama. >>