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We have been in Florida for two weeks.  When we arrived, our Comcast system was down – no TV, no phones and no Internet.   The problem was in the wiring, not the Comcast signal, and it could not be fixed.  We immediately placed an order for Uverse, an AT&T service that was wireless to replace Comcast.  It was installed today and I am just beginning to navigate my way around it.

I will start to write my column again in a day or two.  I am comfortable with the quality of information that we have been sending out from Andy Hoffman and Bill Holter.  They are two of the top writers in our industry.  They have kept you up to date in my absence.

One thing I do want to call your attention to today is a commentary by Peter Mickelberg on Jim Sinclair’s website.  Peter answers most of Jim’s Emails for him.

He wrote the following:

We must act in accordance with the Jim’s GOTS strategy to the fullest extent possible, according to our personal circumstances. The future for the currency system is, as Jim has previously advised, a new virtual reserve currency made up of the US$, the Euro, the Yen, the Renminbi and gold which will be the keystone of what Jim has called the Great Reset. The inclusion of gold in that process is inevitable and is the main reason why a prudent investor should continue to have substantial exposure to gold and gold related items. Whilst gold is currently the subject of a successful manipulation in price you should ask yourself why China purchased more than 270 tons of gold in August this year and is on course to purchase more than 1000 tons for the year. These purchases are not a trade or a speculation; they are made in the knowledge that gold is going to assume a position of preeminence as the currency of choice. You and your clients would be best served to ask why they own gold and along with an understanding of the Great Reset they could rest easily knowing that in the long term they have bought insurance and an opportunity to profit greatly when gold becomes a part of the new reserve currency.

jsmineset.com, October 14, 2013

The Great Reset, as Sinclair calls it, spells the end of the US dollar as the world’s reserve currency.  That is THE reason you own physical gold, never sell it unless you are out of other assets to dispose of, and pay no attention to the day-to-day price.  It doesn’t matter.  All that matters is if you have it or you don’t when the Great Reset takes place.

The bottom line is, either you believe this is where we are headed or you don’t.  If you don’t, then reading this newsletter is not of much value to you.  If you do, then what we write about, Bill Andy and I is priceless.

So many people are influenced by the “price” of gold and silver.  When the price falls, as is the case now, then gold and silver become bad “investments.”  If you want to “invest,” try the ETFs or mining shares and take your chances.  If you understand that gold will be the bedrock of the new currency that is launched in the Great Reset. 

I think the following graph speaks volumes about whether it is worth buying and holding gold now.  One thing you can say about the Chinese; they are probably the world’s shrewdest investors.  Here is what they think about gold…

Chart Of The Day: China Imports Over 2,000 Tons Of Gold In Last Two Years Submitted by Tyler Durden on 10/13/2013 11:15 -0400

China has just one thing to say to all those who engage in the now daily slamdowns of gold just around the time of the London fixing, after 8 am Eastern, which lately have gotten so vicious they have resulted in “stop logic” market halts not on one but at least two occasions, keeping the price of gold delightfully low for all those who instead of selling, are looking to buy: “thanks.”

As the chart below shows, in the past two years since September 2011 (ironically the same month we wrote “Wikileaks Discloses The Reason(s) Behind China’s Shadow Gold Buying Spree” namely that the PBOC was quietly seeking to make the renminbi the new gold-backed reserve currency) the mainland has imported an unprecedented 2,116 gross tons of gold from Hong Kong (in addition to the hundreds of tons produced domestically), for the first time crossing the 2k gross ton import barrier in a two year period!

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Here is the latest from Richard Russell on King World News…  Russell has a wonderful “feel” for gold.  I have followed his writing for the last 30 years and he understands gold better than most people.  He understands the Federal Reserve and what they have done and are doing to our currency.  Make sure you have a golden parachute.

Richard Russell – The 60-Year Shocker, Silver Shorts & Gold

January 7, 2013

Richard Russell:  “Bear market?  Sure, back in the year 2000, for only 273 dollars you could buy one ounce of gold.  But by 2012, you needed over 1600 dollars to buy the same one-ounce of gold.  The eternal value of gold doesn’t change.  It’s the purchasing power of the Federal Reserve note that has changed.

What is even more remarkable is the fact that most Americans have totally ignored (even despised) this remarkable bull market.  Let a stock rise seven or eight years in a row, and it will be the talk of Wall Street and the talk of every social gathering in the nation.

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