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I did get some negative feedback on the comments by Trader David R on Tuesday.  Considering it was only a handful, and we mail to a very large mailing list, I am not surprised.  I have stated this before, and evidently I need to state it again – I try and provide valuable information that I believe will benefit you.  I try and present both sides of the view although I will support one over the other.  The inflation/deflation debate is but one example.  It is not my goal to tell you what to think; I try and get you TO think.  You should be the ones who decide what is valid and what is not.  But there are always a few people who get angry if I write something that they disagree with.  That’s preferable to being ignored.  At least people are reading what I have to say.  If I wrote this daily in such a way that no one would ever get upset with something that I said, it would be so “milk toast” as to be of no value whatsoever.

Now, back to the Trader David R comments.  The ONLY reason I published his comments, which by the way were never meant to be circulated, but were personal emails from David R to me, was because they validated what Jim Sinclair was saying.  And what was that?  He stated that the big banks were long physical and short paper!  Funny, no one complained about what Sinclair wrote, but when Trader David R said exactly the same thing, feathers were ruffled.

For the record, he is a “good guy.”  He is not part of the manipulation.  He does not work for nor promote the bullion banks.  He simply shares his views of how the markets work based on his 18 years of inside experience.  He is also off the charts bullish on gold and silver.  Here is one of his recent emails to me and you will see, his views are very much the same as ours:

QE3 has to be one of the most irresponsible things I have ever witnessed in my life!!  Why gold is not at $2,000 is beyond me! I think we will be there by end of year and $3,000 next year.  Our future generations have just been sold out!!

To clear up any confusion on his position, he never said that the markets are not manipulated.  Quite the contrary, he fully understands that they are manipulated.  The only difference is that he believes the manipulation these days comes from the ultra large hedge funds and their ALGOS, not the banks.  This is nothing to get upset over.  The important thing is not WHO is doing the manipulation; it is that it IS being done.  In the end, it’s all the same.  It will fail and it gives us repeated opportunities to buy gold and silver for depreciating dollars.

I have presented the manipulation story, via Bill Murphy, GATA, Ted Butler, Andy Hoffman, Bix Weir and many others since I started writing this daily.  Nothing has changed here.  I have offered you an intelligent, credible alternative explanation to these events, which by the way is not at odds with the overall premise of manipulation, and leave it to you to decide which answer fits best.

Now had I presented the views of Jon Nadler or Jeff Christian I would deserve the criticism that some of you have sent my way.  Chill out.  You need take nothing more from his comments than a validation of what Jim Sinclair wrote about the banks being long gold and silver.  David R could not be more bullish on gold and silver for at least the next four years!

Here are two statements from Jim Sinclair that he published Tuesday (which can be found later in today’s daily):

Jim’s Mailbox

September 25, 2012, at 10:21 am
by Jim Sinclair

This is pure manipulation (by the banks) for accumulation.

Gold is going to and through $3500 and just like the 70s, the big boys are going to make the most money in gold over the shortest period of time

Once again, Sinclair is telling you the bullion banks are driving down the price so that they can continue to accumulate more physicals cheaper!  He is discussing gold in the first quote and silver in the second.  He is giving you an honest explanation.  If you don’t agree, no one is twisting your arm to make you change your mind.  Remember, I am not trying to tell you how to think.  I am presenting you with what I honestly believe to be the most valuable information I can find and I do have 30 years in this industry, which gives me a fair amount of insight.

Here is the latest from Jim Sinclair.  He gets his criticism too, so I don’t feel so bad.

QE To Have Major Economic Impact On Western Financial World – Jim Sinclair