Looks like Jim Sinclair was right – once again. Last week he wrote that this week the Gold Cartel will go after gold again for the eighth attempt to break it down, and once again they will fail. A quick look at the following gold chart is all you need to see he was correct.
Honestly, I am amazed that so-called “smart” investors are rushing to the “safety” of dollars (US Bonds). How can I possibly mis-read all of the obvious data? Either I am lost in the woods and a complete idiot or the mainstream has gone insane! I’ll take my chances and stick with my analysis. Today was a perfect example of this insanity. Gold, silver, platinum, palladium, oil, the Dow and the NASDAQ were all down – and the dollar was up. This is insanity, manipulated or not! But it is at times like these that the few who can see through all the Bull Shit and stand strong with their beliefs will be handsomely rewarded. (See Sinclair’s commentary The War Between Manipulation and Buying). Nothing more to add.