Sinclair: Time for delivery

[Fiat Currency]

Re: Sinclair: Time for delivery

How does this affect GTU?

It doesn't. GTU holds its gold/silver in bank vaults, and contracts them to do so.

The Mint isn't holding a "strategic reserve" ... as Canada doesn't really have one. Paul Martin & Jean Chretien sold that out at the low - like Britain.

The Mint predominately stamps Gold & Silver Maple Leafs (I have a few ) for resale through their dealer network, and a large amount of Numismatic (collectable) coins. With the 2010 Winter Olympics around the corner - they have been printing many series. They also print regular Canadian money & coins. I am a Masters Member at the Mint, and my coin dealer's best customer. Supply does not seem to have been affected at either one.

I would bet that this will turn out to be a simple theft/scam, and that the Mounties will get their man (or woman). :eek:

Although it might make a really good movie some day :cool:

[phirang]

Re: Sinclair: Time for delivery

Jim Sinclair: "Today it was confirmed to me, that the Canadian mint’s present problems are not unique and that other depositories (vaults) have had an army of auditors descend on them in the last two weeks. Some of these depositories have names so famous that it would scare the hell out of you....I suggest to you now that you take delivery of all gold held in vaults and depositories on your behalf, but this time even from the most prestigious."

Holy alarm bells batman! But he's cried wolf so many times, I find it hard to believe him anymore.

Canadian mint: We've lost track of $20,000,000 worth of gold , but don't worry.... *cough* "Your gold is safe with us ;)" *cough*

In other (older April) news, ECB saves Deutch bank & Comex from default. :eek::confused: . This was based on part 1 of the original Seeking Alpha article, and part 2, which states:

"When a willing regulator creates a situation like this [allowing illegal naked short selling] in the world of high finance, corruption and fraud will always follow. The allegations of conspiracy theorists take on new urgency, because they are likely to be correct, at least in part. If the gold really exists, let’s get to the bottom of it, and calm the fears of the market. If it doesn’t exist, commercial so-called “hedgers”, taking short positions in excess of the speculative limits, are committing fraud. "


Is this going to turn out like the black swan that so many saw, but everyone else didn't believed was real? Or will co-operation between banksters and the various Western governments, with a lot of power & interest, protect COMEX from ever defaulting? Or..or... will Russia, China & Saudis force an eventual default through continuous large hedge purchases against their US dollar reserves? You know, slowly buy enough PM's while they are cheap, and overbuy a bit to offset the eventual US dollar dump. When the dump takes place, PM's surge and China,Russia,etc sell off their excessive build up to make-up most of the losses on the dollar dump. Tadaa!

What bogus causality will jim contrive if the Fed continues to drain the market and gold goes to $750?

[metalman]

Re: Sinclair: Time for delivery

What bogus causality will jim contrive if the Fed continues to drain the market and gold goes to $750?

what will you say if gold does not go to $750? i've heard similar calls 100 times over the past 8 yrs.

gold will fall by (fill in the blank) percent by (fill in the date) because...

imf selling
china selling
usa selling
japan selling
germany selling
deflation
credit crash
banking system crash
fed can't print enough $$$
dollar/gold inverse and dollar better than other currencies
stock market rising
india selling
jewelry market crashing

blah, blah, blah....



gold in other currencies?

they all suck...

Gold in US dollars daily



Gold in EU euros daily



Gold in Japanese yen daily



Gold in British pound sterling daily

[halcyon]

Re: Sinclair: Time for delivery

Holy alarm bells batman! But he's cried wolf so many times, I find it hard to believe him anymore.

What. He. Said.

I don't believe you guys still follow these people. What's the enigmatic pull of the gold bugs?

Why not read people who have a little less colourful verbal output, but are much more often right?

Sure, less entertaining, but makes more money for you...

Just a though. Spreading seeds.

[Tybee Island]

Re: Sinclair: Time for delivery

I am unambiguously standing with Sinclair, Armstrong and Fields.

Catch you on the other side, better yet, do us all a favor and stay just where you are.

[metalman]

Re: Sinclair: Time for delivery

Why not read people who have a little less colourful verbal output, but are much more often right?

what? and miss the high i get watching peter schiff videos?

[pwcmba]

Re: Sinclair: Time for delivery

Yes, he did. Here is the Forbes article that walks you through his 70's bull call to the top in gold in 1980 and how he was a gold bear from there until the late 90's.

http://www.forbes.com/forbes/2001/1210/190.html

[Kadriana]

Re: Sinclair: Time for delivery

Gold serves the same purpose as my 40 lb. buckets of rice. It's something you put away and hope you don't have to use. There are better investments out there. It's more of an insurance policy than a big money maker.

[Yaowarat]

Re: Sinclair: Time for delivery

Yes, he did. Here is the Forbes article that walks you through his 70's bull call to the top in gold in 1980 and how he was a gold bear from there until the late 90's.

http://www.forbes.com/forbes/2001/1210/190.html

Well, thanks for setting me straight.

[metalman]

Re: Sinclair: Time for delivery

Gold serves the same purpose as my 40 lb. buckets of rice. It's something you put away and hope you don't have to use. There are better investments out there. It's more of an insurance policy than a big money maker.

google site:itulip.com gold insurance

[dummass]

Re: Sinclair: Time for delivery

Thanx Fiat,

I can sleep better now.

[jacobdcoates]

Re: Sinclair: Time for delivery

I'm not super chart reader to say the least, but that chart of gold prices kinda looks like the S&P 500 chart over ten years with a bit of a lag.


just my 2 cent observation.

[BigBagel]

Re: Sinclair: Time for delivery

Best investment I ever made! (After gold, silver and guns, that is)

$1-3K investment in a safe is a great return on investment. Crap, I even get people asking ME, to hold their stuff FOR them. Maybe, I should become a bank holding company. (I don't do it of course, but several have asked, I tell them to go buy their own safe).

jtabeb, any recommendations on what to look for in buying a safe?

[dummass]

Re: Sinclair: Time for delivery

Best investment I ever made! (After gold, silver and guns, that is)

$1-3K investment in a safe is a great return on investment. Crap, I even get people asking ME, to hold their stuff FOR them. Maybe, I should become a bank holding company. (I don't do it of course, but several have asked, I tell them to go buy their own safe).

jtabeb, I worry for you.

You are, for some reason that I can not understand, tempting fate. From my limited time on this site, I have acquired more private information about you than I care to know. For instance, where you work, where you live, and the idea that you are keeping 95% of your net worth in a safe (or two, one a dummy), that your net worth is liquid (gold and silver) and that you have enough of it to buy a house for cash. You also have guns.... What gives? Are you a decoy? If this was not your purpose, you should consider the ramifications of making such comments.

Let me relay a story to you that may be instructive. The new Embassy, here in Panama, has a private security force of battle tested elite forces; many of them having previously served in Irak as special forces. In short, they are well armed, well trained, private mercenaries of the highest caliber. They live in apartments that have been modified to the embassy's strict guide-lines for security. Each apartment building (compound) houses 12 guys; the apartment building is fully fenced and all the windows and doors are barred according to official specification; advanced electronic security systems are in place and operational 24/7. Yet they recently had a break-in!

As it was relayed to me by a friend who lives in the building: a well organized group of armed gunmen gained entry to the building late at night; they managed to take all 12 men hostage (gagged and hog-tide them). Apparently, they were looking for drugs. One can speculate as to why they were looking for drugs, among the elite security forces of the US Embassy, but that is not my point.

Please be more careful with comments you post to public forums. Why invite trouble? Why take a chance? IMO you should take some time to edit prior posts; unless, of course, you are purposefully tempting an event such as that relayed above.

That said, I enjoy reading your contributions to this forum and hope that you continue to contribute in the future.

Be safe!

[Kadriana]

Re: Sinclair: Time for delivery

google site:itulip.com gold insurance

Interesting read. I'm curious to see what goes up more over the next 5-10 years. Rice or gold.