A thing of beauty! These two charts look like twins. It’s been a while since we have seen this kind of “bullish” action in gold and silver. Is this a preview of what is to come? Maybe $2,000 gold by year’s end is not so unrealistic after all? But before we start dancing in the street, let’s re-visit $1,800 and $1,900 first.
If these prices hold, Larry Edelson’s bearish price predictions can be scrapped. Hey, he never promised that his numbers would come to pass – he said that they were likely. Maybe not as likely as he would like us to believe. Maybe now he will get “religion” and convert over to a short-term bullish view, to go along with his long-term bullish predictions. But, we will have to wait until the close on Friday, because he said the higher prices would have to be “week-ending” prices, and it’s not Friday afternoon yet.
O.K. It’s time to let the cat out of the bag. Ranting Andy Hoffman has officially joined Miles Franklin as our Marketing Director. From the first time I personally spoke with Andy, I knew he belonged at Miles Franklin. Andy and I not only share many of the same views, we also share the same passion, conviction and most importantly, integrity. We both are motivated to help as many people as possible protect themselves against the difficult times that are knocking at the door. We both learned to think this way from Jim Sinclair. Sinclair’s energy is focused toward helping as many “CIGAs” (Comrades In Golden Arms) as possible. He asks nothing in return for his time and energy. He deserves all of our respect for his knowledge, and leadership.
Remember, it was Sinclair who earned the moniker “Mr. Gold” in the 1970s bull market. It was Sinclair who seven years ago, with gold priced in the $400s, guaranteed us that gold would hit $1,650 in 2011. He was so certain of his call that he offered a million dollar wager to anyone who was willing to bet against his prediction. No one took him up on his offer. After that amazing “call,” how can anyone doubt him or what he has to say about the future direction of gold?
For those of you who are new to our newsletter, Sinclair promises the following: The US Dollar will lose up to half its current USDX value, dropping from its current level of 76.17 to a low in the 40s, at which time it will be replaced as the world’s reserve currency. A new currency will be introduced and it will be at least partially backed by gold. Gold, he maintains, will sell for at least $5,000 and could easily reach $10,000 an ounce. The price of gold will NOT fall back, but will stay at the new high and be the major backing for the new currency. If you have a cigar box full of gold coins, you will be very wealthy. If you do not, you may very well end up wishing that you had taken his advice. Please, do something about this now, while you still have the time, and while the price of gold (and silver) is still on the very low-end of where it is headed.
I will be taking a few days off, next week and Andy Hoffman will cover for me and handle the daily newsletter. It is great to have Andy on board to help in this capacity.