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Sinclair says $12,500.00 for gold

KipKip Posts: 852
in Precious Metals
Smoking too much "Tanzi-high life"? image
UCSB Electrical Engineering....... USCG and NASA

Comments

  • renman95renman95 Posts: 7,037 ✭✭✭✭✭
    My $8,000 prediction back in 2008 doesn't seem so outrageous anymore.

    Sinclair is not some unknown CU poster.

    image
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Sinclair is figuring that gold will rise to balance the nation's sovereign debt less a fudge factor for China's holdings....hence $12,500.

    I think he'd do a lot better if he waited for his most current prediction to get surpassed (ie $1650) before tossing out another one.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • edmundfitzgeraldedmundfitzgerald Posts: 4,306 ✭✭
    I'm a seller at $22,000/ounce, so we'll be almost halfway there when Sinclair's prediction comes true. I'll also be in the
    L wing of the nursing home. image
  • streeterstreeter Posts: 4,312 ✭✭✭✭✭
    I'll sell him all he wants to buy today for a lot less than his call.image
    Have a nice day
  • TheBigBTheBigB Posts: 942 ✭
    Gold is up approximately 5 times over the last ten years and the global situation keeps deteriorating.

    We have blown through numbers most thought were crazy. I don't know what to think.
  • KipKip Posts: 852
    image Ef
    UCSB Electrical Engineering....... USCG and NASA
  • OPAOPA Posts: 17,119 ✭✭✭✭✭
    My favorite Art Bar associated with predictions like that.

    image
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • VikingDudeVikingDude Posts: 1,342 ✭✭✭


    << <i>I'm a seller at $22,000/ounce, so we'll be almost halfway there when Sinclair's prediction comes true. I'll also be in the
    L wing of the nursing home. image >>



    I'd probably jump the gun at $21,990.
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    That's a high price. Could it happen? Hard to say. The history does support a huge increase in prices percentage-wise.

    From the 1930s until about 1968 gold prices were basically fixed at $35/oz. Basically, a long period where gold prices did nothing. Even when gold prices began to float internationally, these were the prices those first couple of years:
    1968 - $39.31
    1969 - $41.28
    1970 - $36.02
    1971 - $40.62
    1972 - $58.42
    Link.
    From there everyone knows the eventual jump to a peak of $850 in 1980. In effect, from bottom to top, the price increased about 21x in a dozen years.

    Is there an analogy to the current period? Gold basically did nothing for 20 years during the 1980s and 1990s. It fell to a low of about $270 in 1999.

    If we see a 21x increase from the 1999 bottom to the eventual top, that's $5,600 gold. Not quite $12,500, but still way more than the current price.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
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