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dreamer
Demolition Man


Joined: 09 Aug 2007
Posts: 2101
Location: Northern California

Re: Jim Sinclair - $1764 video
PostPosted: Mon Aug 22, 2011 8:53 pm Reply with quoteBack to top

Shazzam, getting up there on its way to $5000+. Gonna be a correction bye and bye to shake out the weak hands. No stops on my PM shares but thinking about it. I don't trade physical no matter. Maybe whenit finally goes into the euphoric mania I will pick a point to unload...like when the Bernank, Timmy or Buffet recommends gold.

I wonder what life will be like when we get there in 2015? From here to there is about the same duration as the US involvement in WWII...a lot can happen between now and then...and IMHO it ain't gonna be good for the common folk.

It is sad to see the US deteriorate. The manners, the morals, the media, education dumbed down, the drugs, the porno, the filthy speech, Jersey Shore...OMG what a sad sight. I pray for my children and my family and friends...especially for those who have taken none of my advice and are lost.

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bdk
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Re: Jim Sinclair - $1764 video
PostPosted: Mon Aug 22, 2011 9:37 pm Reply with quoteBack to top

gold at 5000!! do not wish for this... you have any idea what the world will be like when its that high?

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dreamer
Demolition Man


Joined: 09 Aug 2007
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Re: Jim Sinclair - $1764 video
PostPosted: Tue Aug 23, 2011 12:30 am Reply with quoteBack to top

If U read what I have written over the years and the recent post U will see that I do not wish for that and I understand things will indeed be very bad when it happens. Don't worry about the banksters and politicians though as they will be just fine. Worry about your family and friends because it will be bad for them and the US. Just because it will be bad when gold blows through $5000 (Martin Armstrong) enroute for $12000 (Alf Fields) doesn't mean that U should be in denial and not buy it now. It will probably be he only thing that saves any wealth U got.

I truly wish that gold was the same price as it was in 1971 if everything else remained the same price as it was then...20 cent gas...etc. The best thing that could have happened is for U to work all your career and save and have the wealth U saved to buy exactly the same value in retirement as the time U saved it. The phucking Fed and the gubermint has seen that it is not the case as they inflate to fleece the sheeple like boiling the frog. That has been the plan since 1913. Read what Greenspasm wrote about gold and economic freedom...he made it clear before he turned and went to the dark side...look it up.

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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
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Re: Jim Sinclair - $1764 video
PostPosted: Tue Aug 23, 2011 1:33 pm Reply with quoteBack to top

From the same London GATA conference that the title interview is from, in the below link James Turk interviews Jim Rickards. 42 minutes long, but really informative:

http://www.goldmoney.com/video.....rview.html

I particularly like the way he defines what a bubble in gold looks like by comparing the market value of all the gold in the US vs. the US money supply (m1) -- anything above 100% is a bubble. That would put the gold price per ounce (at today's M1) at $7000 before it got into bubble territory. Of course if (when?) we get QE3 the money supply goes up and so does the price at which gold would be considered a bubble. That discussion starts at about minute 31.

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"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
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bdc63
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Joined: 16 Feb 2007
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Re: Jim Sinclair - $1764 video
PostPosted: Wed Aug 24, 2011 2:11 pm Reply with quoteBack to top

Gold's been smacked down more than 130 bucks in about the last 30 hours (gold hit all time new highs over $1900 pre-open yesterday). Wow - the gold gurus have told us that the corrections could be violent, and they weren't kidding.

The weak hands are being shaken out and the fear trade is coming off ... for now. Might just be the last good buying opportunity for those hoping to accumulate more (or to re-stock after your "stops" kicked in).

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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Aaron
A-Bomb


Joined: 24 Jan 2007
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Re: Jim Sinclair - $1764 video
PostPosted: Wed Aug 24, 2011 2:58 pm Reply with quoteBack to top

I heard it was triggered by 3 margin hikes on the Shanghai exchange...

Anyway, I welcome a hefty correction! Bring it on, bankstas!
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dreamer
Demolition Man


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Re: Jim Sinclair - $1764 video
PostPosted: Wed Aug 24, 2011 5:23 pm Reply with quoteBack to top

Yep. Shaking the gold tree and getting those with weak hands to flee. This is healthy for the long term PM market...as we go forward the new owners will have strong hands. Margin hikes go with a bull market...unless it is stocks of coures... Shocked

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There isn't anything so bad that the Government can't make worse...

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bdc63
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Re: Jim Sinclair - $1764 video
PostPosted: Wed Aug 24, 2011 5:32 pm Reply with quoteBack to top

There is the fear though that if the markets don't get their QE3 anouncement at Jackson Hole (which I don't think they will be getting just yet), then stocks and gold collapse -- just like they did in 2008.

Obviously I believe gold would eventually get back into rally mode and make new highs, but another 300 - 400 down move would be SERIOUSLY painful short term.

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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dreamer
Demolition Man


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Location: Northern California

Re: Jim Sinclair - $1764 video
PostPosted: Wed Aug 24, 2011 5:42 pm Reply with quoteBack to top

IMHO there is no 300 to 400 down due. The price is fluctuating around Jim Sinclair's $1764 target as the phase 3 acceleration breakpoint. There is something to it and the banksters know it. I thing a lot of shorts are getting covered here and when they are done it is gonna be exciting on the way up. Come Sept to next March U R gonna rue the day if you capitulate as the pros are sitting there taking the shares and metals off your hands.

IMHO I have noticed over the years that things that the pros want get the snotola hammered out of them immediately prior to takeoff.

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There isn't anything so bad that the Government can't make worse...

The 4-functions of government today are the same as a criminal enterprise: Lie, Cheat, Steal, and Kill...
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bdc63
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Joined: 16 Feb 2007
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Re: Jim Sinclair - $1764 video
PostPosted: Wed Aug 24, 2011 6:00 pm Reply with quoteBack to top

That's what I'm hoping for dreamer. I stopped out of a number of gold/silver plays early yesterday, and rebought a few when gold was down 75 bucks this morning ... of course it's now down 100 bucks Sad . I'll be "what if-ing" this until the correction is over.

Whatdaya think Benny Boy is going to have to say friday?

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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