Jim Sinclair has sent subscribers another alert imploring precious metals investors to sit tight and hang on to their physical gold during the current cartel smash, and not to be hoodwinked by the demonic sociopath bankster gold banks.
Sinclair states that the banksters are attempting to separate physical gold from long-term cash investors via the current gold correction, just like they did in 1979-1980 prior to gold’s explosion to $850.
Sinclair again re-iterates that gold is going to and through $3,500/ oz because of what has already happened in the financial system, and states that not one more dollar of easing or stimulus is required (although it will continue) to send gold through $3,500/oz.
From Jim Sinclair:
Please do not be hoodwinked by these demonic sociopath bankster gold banks that, just like in 1979-1980 with the help of Trojan Horse gold writers, stole a huge amount of gold and gold shares from long term cash investors, leaving them without any insurance as the gold market made the highest price and covered the most dollars of appreciation over the shortest period of time.
In the 70s gold appreciated on the basis of what MIGHT happen. Gold is going to and through $3500 because of what has already happened already. Not one more problem by one more dollar is required for gold to attempt to move in price to balance the balance sheets here, there and everywhere.
My advice is to hold all gold positions and wait patiently for the correction to end. Just before the huge 1979-80 surge, we saw a big ‘clean out’ correction in gold. I believe history is about repeat.
— Richard Russell on King World News Radio
You have heard it from Richard Russell and myself. You can be active in the gold and gold investment market by simply doing nothing. The new evil demonic gold bank destroyers of good efforts are working hard to create a waterfall in gold and gold shares that can only happen if you are foolish enough to shift your decision making to your emotions. If you want to fight back, do not under any circumstances panic now. If you do not panic they will be beaten as this is the last significant reaction before gold roars higher. If you want to be in the fight and not simply a spectator, you simply have to do nothing whatsoever.
Richard Russell and I are not newcomers to the gold market. Neither Richard nor I have experienced embarrassment as leaders, directing our friends into a trap of price or time. We will not fail now. Our legacy will be extremely clean.
Gold is heading toward the system and not away from it. Gold is the necklace many currencies will be wearing from 2015 forward. The percentage of gold being held as reserves seems to have a 15% target on it. That should give you an easy way to compute what these central banks are thinking in regard to the ultimate value of gold in the free gold cash market.
Gold is the only tool available to balance the balance sheets of the worst monetary deficit, debt, sinners. Gold will balance the balance sheet of the transgressors. The transgressing central banks have to balance their balance sheets as the world cannot continue forever on this QE sponsored illusion of solvency.
Central banks last year bought most gold since 64
FRANKFURT (MarketWatch) — The world s central banks last year bought 534.6 tons of gold in 2012, the most since 1964, as global gold demand hit a record value level, the World Gold Council said Thursday in a quarterly report. Purchases by central banks for the full year rose 17% compared with 2011, while fourth-quarter purchases of 145 tons marked a 29% rise from the same period a year earlier. “Central banks move from net sellers of gold to net buyers that we have seen in recent years has continued apace,” with official sector purchases across the world now at their highest level for almost half a century, said Marcus Grubb, managing director for investment at the World Gold Council. In value terms, total gold demand in 2012 was $236.4 billion, an all-time high, the council said.
Sentiment: Strong Sell