I am registered to attend Jim Sinclair’s March 20th meeting in NYC. At this meeting we will be free to ask Mr Sinclair questions regarding his insights into the Economy and Precious metal investing. I was wondering two things:
1) Is anyone else here attending?
2) If you were at the meeting what would you ask him?
I’d ask him about his views on the “end game” as it pertains to the rollout of a new currency system. Jim’s forecasts for gold have always been based on computing the price level required to balance out the total outstanding obligations of the US’ balance sheet so he thinks in this context. He also has expressed a few times his view that the status of the US Dollar as a world reserve currency will fade away. I’d ask him to speculate on the most likely scenarios for events to follow, and his rough view on the timeline.
I wish I could be there! Hey, if you could record the presentation and share it with us, that would be sweet.
Please take notes. I can not be there. It would be a huge favor to all Sinclair followers if you could let us know the high points of what he has to say. I envy you that you can be there. Sinclair mentioned again today that he feels that gold is about to take out 1600 very soon and it will be the last time gold goes below this level. Sinclair must know something more than just gut feelings here. He is putting his reputation on the line.
I will definately take notes but no video recording allowed. It is stated that this venue costs $21,000 to rent and everyones admission will cover the room. So I am guesstimating there will be only 525 people in this room, because each ticket is $40. He has also stated he will not be selling anything whatsoever.
This meeting sounds like a golden opportunity to learn more about the precious metals market. I myself am bearish in the short term but my 6 month window of silver dropping below $25 is about to close. I give it to as far as May 3rd personally. Why May 3rd? Because they need to knock Gold/Silver down before the bull gets let out of its cage when the new debt ceiling is negotiated. I believe the apex of this knockdown might occur during the feds two day meeting ending May 1st (a occult holiday). This will be followed by another positive job report on the friday. But who knows for sure this market is always evolving in interesting ways. That is why I am interested in what Sinclair has to say since he did call the gold top in I believe 1981, but I am always suspicious of this event. Because of his family history in the markets.
Anyway I am surprised no one else will be attending this meeting. I guess there is not alot of Silver Doctor members in the Tristate area?
Bullring and I discussed making the trip but can’t take the time currently unfortunately. Have a great time, and if you are able to take notes and write up a summary, we would be glad to post it up for the other sd readers
I arrived at the Sutton Room in the Hilton Hotel at about 1:30pm. I figured it would be better to be 30 minutes early than a minute late and too my surprise the room was practically full. Once I entered the room I was also surprised Mr Sinclair had already started answering questions. Their were roughly 800 people at this meeting and hundreds of questions answered. I would say a quarter of the questions revolved around silver. Anyway the Q&A ran till about 5:30pm. Here are some of the notes I was able to capture while there:
1) Cyprus was a major mistake by the IMF. This was meant to shift the onus from debt monetization to the depositors. This means you should move your money out of the banking system and into something else like gold. He also said if Cypus was successful it would have caused the Dow to plummet down to as low as 1000 points because it would be a shift away from QE. QE would be second.
2) IRA timing question. Sinclair: “you have 2-3 years.” Says stop contributing. Get out. Doesnt have to be right away. You have 2-3 years.
3) FDIC can’t meet its obligations. It could handle one or two bank failures but it cant handle a systemic crisis.
4) Mining production good to start now. 5 years ago maybe not so good.
5) Gold valuation math question: Dividing current fiat by amount of gold held = $15-17,000 gold? Sinclair: too soon to tell. Do this in 2015. This calculation may misguide you now.
6) Gold Confiscation possible? Sinclair: short answer “No” because gold has a different role today then it did back in the 1930′s. Back then they confiscated gold to increase the money supply. “Gold doesn’t function like that anymore”. Sinclair doesn’t believe their will be confiscation. Can’t comment on Taxing it instead.
7) Gold coins less likely counterfeit than Gold Bars.
8) Gold only asset to appreciate.
9) Gold will find its way back into the monetary system
10) Gold price to look for: $1517 and $2021.
11) Sinclair on Silver: Silver will rise past $50. It will rise as gold goes higher. Silver is not a monetary metal. The price of silver is based on the paper markets, because of this the supply is infinite. “The high Silver price wont be fullfilled”. “He cant agree on a really high Silver price”.
12) Why doesnt someone/ Billionaire try to corner the Silver market? Sinclair: because they will end up like the Hunt brothers.
Brings up a Jesse Livermore example where he was once pressured to take delivery. He said Livermore was a gentlemen and refused. Said other billionaires probably don’t want to go down in history as the person who crashed the Comex.
If the Hunts took delivery they may have ended up behind bars. When you break an exchange it creates a false price upwards. Problem with a Comex crash is it will go up but then crash down. He said it would be “orgasmic” lol. It is better to have a steady rise up!
13) Gold storage companies may become unethical like any other company.
14) Question about Gold Silver ratio. Sinclair: “He doesnt believe in ratios”
15) Sinclair is more of a believer of gold.
16) What about Silver? ” Silver will also do well”
17) Gold will be revalued by the market
18) Their has never been a nationalized mine that made a profit.
19) Remonetization of Silver is unlikely.
20) Yes physical Gold and Silver can run out.
21) Triple digit Silver a myth? Sinclair: Not a myth. But wont hold. $500 Silver probably wont happen.
22) Dow high because of liquidity. (floats all boats)
23) Dow could have a reaction lower sometime soon but then go higher.
24) Significant Gold targets: $248, $1650,
25) Gold was a utility in the 50′s
26) Miners are a great opportunity because they are smashed. Even with a market crash they cant go much lower.
27) QE pullback? Stopping QE creates a black hole. No limit to QE
28) The Fed only has two tools: Debt monetization and Gold revaluation.
29) Gold bull run cycle to end by year 2020-2021
30) Glass Stegal wont come back.
31) He believes Hyperinflation can occur. He believes if we have Hyperinflation it will only last 3 months. “It will be a very ugly experience”. Also said it would be short and violent.
32) Euro will outperform Dollar because they are practicing Austerity.
33) Said their is no solution to over the counter derivatives. He said a derivative is like a knot in a string that loops. He said the collapse of Leiman caused the loop to be cut.
34) 5 year window for BRICS to take over
35) He said next target for Gold was $3,100-3,200. Below $3500 is a buy. By 2015-17 Gold will be roughly $4000-4500.
36) He said if you are a Miner stock holder you must act crazy and raise hell to see profits.
37) He said the significance of March 27th date was it was his birthday. lol
38) Attack on Iran is unlikely. In the past it was possible but it doesnt look attractive today. Russian stealth Submarines may be game changer.
39) If Gold revaluation were to occur within a year it would be roughly $4,499. But could go higher after a year.
40) He was asked if he has a leg up in the industry. He said of course. Being in this business for as long as he has means he trades information with heads of industry.
41) He doesnt believe Comex will fail.
42) Question about Bitcoin? Sinclair:” it may not be practical”
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