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I have published Sinclair’s Five Golden Pillars and $1,650 gold target in the past – on the way up and past $1,650.  He is showing it again and it is his next target as gold rebounds.  The first pillar needs some work.  The dollar is still holding up well against the Euro and the deliberately debased Japanese yen.  That has to change.  The commodity market is still weak and has to improve.  This will happen in time as global QE works its way into purchasing power and demand.

This is an absolute must watch.

Grant Williams: The gold price is not the price of gold

Submitted by cpowell on Mon, 2013-05-27 18:58. Section: Daily Dispatches

11:58a PT Monday, May 27, 2013

Grant Williams of Vulpes Investment Management in Singapore, editor of the “Things That Make You Go Hmmm…” financial letter, covered gold extensively in his presentation May 21 to the CFA Institute conference in Singapore, remarking that in April gold had come under “mathematically inexplicable pressure” and concluding that “the gold price is not the price of gold” — that is, the gold futures market is not necessarily the market for real metal. Williams didn’t quite say that the gold market has been subject to government intervention meant to propagandize and frighten, but the point probably will be understood by anyone except maybe developers of resort properties in Argentina’s outback.

Williams’ presentation is titled “Do the Math” and is posted at YouTube, and while at 49 minutes it’s long, his review of the world economy is incisive and entertaining and those so inclined can skip to the gold section at 33:30:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

Bill Holter wrote, “…the central banks in both the U.S. and Japan have gone from ‘buyer of last resort’ to ‘only buyer of any substance.’”  John Williams pointed out that “Since Onset of Expanded QE3, Fed Has Monetized 73% of Net Public Treasury Debt Issuance, Should Hit 100% by Mid-July.”  I hope you all realize that the only thing holding up the stock market, bond market and real estate market is the Fed.  Logic would dictate what they have to continue.  That will take its toll on the dollar and set gold free to counter-act the madness.

Jim Sinclair is pounding the table hard now.  He is issuing warning after warning that you must get out of the system immediately.  That means bank accounts, pensions and IRAs, and it means taking possession of your stock certificates.  He expects COMEX to default within 90 days.  No one wants to believe him.  The Jews didn’t heed the warnings to leave Germany in 1932 either.  No one wants to believe that things will get that bad.  But they do.

Many of you have lost your faith in gold.  The reason is because you view gold as an investment.  You have lost sight of gold’s main role in your portfolio – financial insurance.  Chances are, the wealthier you are the less likely you are to own physical gold.  I have met many very wealthy people in Miami Beach, really wealthy.  They do not own any gold.  Oh, a few own a bit of gold and think that’s sufficient, but in general, they all feel safe with their stock portfolios, muni bond portfolios and cash in the bank.

So here is what I would like you to do tonight.  Before you go to sleep, utter a prayer – even if you aren’t religious – and pray that Jim Sinclair is wrong.  Pray that he is just an old fool who has lost touch with reality.  Because if he is right, your life and mine are about to change for the worse and “normal” as you know it will be gone forever.

Read what he wrote late last night.  Does it scare you?  It should.  You still have time to protect yourself.  Andy Hoffman is right – everyday he closes his blog he with, “Protect yourself and do it now!”

In The News Today

Posted May 29th, 2013 at 2:19 PM (CST) by Jim Sinclair


My Dear Friends and Extended Family,

Nothing has changed. In fact fundamentally it has gotten worse, with the Banksters and Brokesters view that they can manage every market on earth and therefore destroy free markets.

Free markets are the heart and heat valve of free enterprise and democracy. The destruction of markets by bullies with egos the size of the universe is a knife deeply and directly into the heart of free enterprise and democracy. They are both now dead beyond resuscitation thanks to the unlimited greed of our financiers and their ownership of politicians.

You need to face the facts that they have killed our system and their system is about to inflict severe punishment to you, the public, the depositor, the backbone of the Western world economic and social system.

First came the Great Flushing (Lehman Brothers) to be followed by the Great Leveling of the Western world (Bail-in). Being prepared is simple but so few of you, the enlightened ones, have the energy and courage to take the simple steps.

Get out of the system, and do it now. It is so easy, legal and ethical, but will not be for much longer. As an event by which to judge the time the closing of the last door to the final vestiges of economic therefore personal freedom, it is the event of capital controls sure to come. After that their system will have their way with you and you best thank them for the honor of their servicing.

Is this the turning point?  Gold roared past the well-defended line at $1,400 last night.  But the Cartel never misses an opportunity to regain control.  By 7:45 this morning, coming into New York, they have smacked it down below $1,400 once again.  If gold can come back and close above $1,400 today it will be a big deal.  The dollar has fallen hard the last two daysLook at the following chart.  You don’t need to study it; a quick glance should be enough.  Do you see where Sinclair is coming from – Gold is hemorrhaging out of the COMEX!  Like he says, “The emancipation of physical gold from no paper gold is taking place right here (in this chart)…

Comex total ounces graph