Sinclaire

Kip

Jim was very clear that he sees a price rise in gold coming by early July. This rise in prices could take us to new highs. How high? Jim sees $50,000 gold as a likely target should the paper manipulators lose control. This number sounds staggering to many, but you must remember that this market has been a beach balloon that has been pushed to depths never seen by man.

See there is still hope

Bayard1908

The original $1600 call was great. He has been on a cold streak recently though.

cohodk

When people stop believing your story you have no choice but to make it more fantastic.

HonoluluDude

<< <i>When people stop believing your story you have no choice but to make it more fantastic. >>

USMoneylover

If gold goes to 50k you will wish you had your gold weight in lead and brass with a little gun powder (for good measure). The world won't be a kind place.

OPA

<< <i>

<< <i>When people stop believing your story you have no choice but to make it more fantastic. >>



>>





I think he lost all credibility with that statement.

Julio

When gold hits $50,000 I'll be long dead by natural causes. Take care. jws

Overdate

Nice bounce off today's low.

$1186 to a $1235 weekend close, a $49 jump in just 8 hours!

derryb

$50,000 gold is not unlikely if the dollar follows the path of all other fiat currency. At some point worthless currency will buy no amount of gold.

However, $50,000 gold will buy the same amount of groceries as $1500 gold. Gold doesn't reach new highs - dollars reach new lows. Try to think in terms of how many dollars your gold will buy.

Overdate

In 1932, $1200 gold would have been unthinkable.

Ditto for $19 silver - the low for that year was 24 cents!

A silver quarter in 1932 contained 3.5 cents worth of metal. Not too different from today's clad quarters whose metal value is currently 4.1 cents each.

Maybe someday bags of clad coins will trade hands the way bags of silver coins do today!

OPA

<< <i>$50,000 gold is not unlikely if the dollar follows the path of all other fiat currency. At some point worthless currency will buy no amount of gold.

However, $50,000 gold will buy the same amount of groceries as $1500 gold. Gold doesn't reach new highs - dollars reach new lows. Try to think in terms of how many dollars your gold will buy. >>



How true.

renman95

<< <i>In 1932, $1200 gold would have been unthinkable.

Ditto for $19 silver - the low for that year was 24 cents!

A silver quarter in 1932 contained 3.5 cents worth of metal. Not too different from today's clad quarters whose metal value is currently 4.1 cents each.

Maybe someday bags of clad coins will trade hands the way bags of silver coins do today! >>



Overdate, you went back a bit further than I was going to. In 1974 when American's could finally own gold no one would've imagined $850 by early 1980. That would seem outrageous. I don't want $50k gold. Amerika would not be a comfortable place to live in if it were.

Yukoncornelius1

I see the price of gold rising from here in the next few years but $50,000 an oz.????

Yukoncornelius1

By the way I still believe that silver will eventually rise above $100 an oz.

roadrunner

<< <i>...........Overdate, you went back a bit further than I was going to. In 1974 when American's could finally own gold no one would've imagined $850 by early 1980. That would seem outrageous. I don't want $50k gold. Amerika would not be a comfortable place to live in if it were. >>



I think that move was well-planned back then. They gave the American people the ability to buy bullion gold in Dec 1974....just as the price was peaking in a parabolic mania that very month at $180-$195/oz. It basically went up 5X in about 3 years. That would have been like gold peaking at $3400 in Sept 2011 rather than $1923. All those that bought gold in Dec. 1974 were buying the top and got killed during the 47% retrace into August 1976. That taught the American public that gold was a has-been and an unsafe market to be in. Of course it
then proceeded to go up 8X over the next 40 months...with little of the public onboard. The US govt allowed the public to be bag-holders from Dec 1974 to August 1976. At that time the strong hands came back in near the bottoms and bought the public's gold back.

Sinclair is now officially a has been. His calls since the summer of 2011 have been atrocious....and plain wrong. His current pony-boy, Bo Pony is equally as wrong. Why Sinclair would pay that guy $20,000 to publish forecasts for him is beyond me. With the resources that Sinclair has behind him there's no way he did not see a fall to $1300 and lower coming in gold. He's been a proponent of getting his readers to buy gold shares and get the certificates. This only seems to have made those shares less likely to be sold during the recent downturn. And with miners down 65-90% across the board, that was one huge mistake. You'd have been far better in cash (or a pea) under the mattress rather than stock certificates. It's also true that Sinclair provided his readers with the tools to trade properly on their own if they learned about them and utilized them. That would have been much more sound than following Sinclair's and Bo's predictions. JS may still be proven right on his $3500 gold call. But getting there by the way of $1179 (or lower) is not exactly great forecasting. Sure, $50K is possible if the entire financial system self-destructs. But, we'll have bigger problems to deal with than $50K gold. Jim was very clear that gold was going higher from the $1600 area. In fact it went lower and got destroyed. Any goodwill he built up on the run to $1650 was destroyed on this drop from $1650 to $1179. Sorry, but that's the way it is. I've gone from a former supporter of Sinclair when warranted, to a detractor.

BBN

<< <i>By the way I still believe that silver will eventually rise above $100 an oz. >>



I agree

jdimmick

These type of statements are just plain ludicris, I remember all the folks hollering 5k gold back in 2011, didn't happen then, and wont now.

daOnlyBG

I remember David Hall's video he made on behalf of PCGS earlier this year, claiming that we were going to witness $10k/oz for gold (it could have been $5k, but I'm pretty sure it was $10k). I presently do, and did back then, sincerely wonder how he came up with that figure.

BBN

I could see $3,000, but it's going to be awhile

jmski52

A review of the hyperinflation timeline in Weimar Germany might be interesting. I can't find a good graph that will copy, but the graphs of Weimar hyperinflation show a difficult progression for several years. Then, there is that "oh crap" moment and all confidence in the currency was gone.

I have no good feel for when that moment might arrive. I think it depends on how many middle class families are squeezed beyond their savings limits.

In Weimar, the launching point looks to have been around May, 1923. Until about that moment, it was simply a nasty cycle of high inflation, unemployment, poor government finances (reparations) and apparently - no way out.

Given our government's poor financial management skills and the massive derivative problems in the shadow banking system, I think that there are plenty of triggers that could freeze up the entire commercial system quickly - and that's the problem.

cohodk

<< <i>By the way I still believe that silver will eventually rise above $100 an oz. >>



I agree. In 2025.

57loaded

<< <i>A review of the hyperinflation timeline in Weimar Germany might be interesting. I can't find a good graph that will copy, but the graphs of Weimar hyperinflation show a difficult progression for several years. Then, there is that "oh crap" moment and all confidence in the currency was gone.

I have no good feel for when that moment might arrive. I think it depends on how many middle class families are squeezed beyond their savings limits.

In Weimar, the launching point looks to have been around May, 1923. Until about that moment, it was simply a nasty cycle of high inflation, unemployment, poor government finances (reparations) and apparently - no way out.

Given our government's poor financial management skills and the massive derivative problems in the shadow banking system, I think that there are plenty of triggers that could freeze up the entire commercial system quickly - and that's the problem. >>



The lack of faith in the Mark was due to the hyper printing of them (Marks) in a futile attempt to trade for other currencies that were stable to pay off debts. (IMHO). Reparations were made in hard currencies or currencies other than Marks and the fiat Mark became worthless. Treaty of Versailles sorta sealed it's forthcoming doom.

It did get to the point very quickly where it wasn't worth the paper it was printed on.

There are some conditions that possibly could "freeze' everything. It has been thought of that this somehow could happen literally overnight but I can't think of anything real concrete other than a massive run the banks to have cash in hand due to a lack of faith in the banking system more than the money itself.

Now Sinclair?

roadrunner

<< <i>

<< <i>By the way I still believe that silver will eventually rise above $100 an oz. >>



I agree. In 2025. >>




I would vote for $95 silver before 2020. Gold with a 50-50 shot at $5000+ by then. $3500 is more than realistic though.
That round numberitis of $100 silver just might be a strong resistance point as $50 was.

We may have already seen Jim's forecast of new highs by early July (it could have ended last night at $1267).

derryb

I do not believe the long term bull trend for gold will end until there is a sharp and sustainable rise in interest rates. I also believe talk of QE tapering and the recent jolts to interest rates was nothing more than a "stress" test by the central bank. I will be watching what the FED does, not what it's mouthpieces say. Those who act on what they hear will continue to provide the rest of us with opportunity just as with the latest round of jawboning and reaction to the jawboning.

The FED is forever stuck buying US soveriegn debt until they can devise a way to force you and I to fund it.