October 21, 2012, at 7:58 pm
by Jim Sinclair
On the day of illegality, yes, compensation will be paid, market related. That is what occurred under Roosevelt. This is a key point that the community writers seem to ignore or maybe do not know.
The community fears confiscation without compensation because the gold experts in the main are far from experts.
I do not, however, agree with confiscation as gold in the 1930s had a clear and then present utilization in the monetary order. It does not now.
Read the full article at jsmineset.com
On October 15th, I featured Trader David R’s comments on where he felt gold and silver were headed. Looks like he was right. We are now approaching the end of the manipulated pull back. Get ready to jump back in.
Here is what David R had sent to me:
$1740 needs to hold in gold otherwise we test $1,690. Silver looks very heavy and if we go to test $1,690 in gold, silver will test $30. Overall the market seems heavy here. I don’t know what is up at $1,800, but can only assume the central banks that bought gold around $1,550 were taking profits up there. Overall down around $1,690 will be a dip to buy! Government printing $75 Billion per month, but if U.S. data continues to look good then no roll of operation TWIST could mean much lower metal prices. It’s a very tricky market right now.
Check out this gold chart posted on Jim Sinclair’s site by Erik McCurdy, Senior Market Technician at Prometheus Market Insight. Gold has to hold $1,720 or the next support is just below $1,680. These numbers are very similar to David R’s numbers.
Another of my TA (technical analysis) sources says gold should hold at $1,720 and silver at $32. Either way, this is not the end of the world and we will test $1,800 and $35 again, after the election.
Here is some of the most important information yet from Jim Sinclair. He has taken the time to explain the way the insiders play the gold game. Much of it is at odds with what you will read from your favorite newsletter “experts.” I take this very seriously and I hope you will too.
How A Metals Dealer Works – Jim Sinclair