The legendary Jim Sinclair sent out a notice to email subscribers moments ago warning that The Fed is about to follow in China and the ECB’s Quantitative Easing footsteps with UNLIMITED QE, and that GOLD IS HEADED TO $3,500 HERE AND NOW!!!

If gold reaches $3,500 on this move, expect silver to EASILY CLEAR $100/OZ!!!

Better hope you are on this PHYSICAL TRAIN BEFORE IT LEAVES THE STATION!!

If you have eyes to see, coordinated central bank monetary and fiscal stimulation action is taking place.
Yesterday was “Draughi Day.”  Today the Chinese officially released massive fiscal stimulus on top of the already monetary stimulus. Watch for the US Fed to chime in.

 

QE to infinity MOPEd as sterilized is falling into place. Please review my post from last weekend to you on the illusion of monetary sterilization.

 

Gold is going to and through $3500. The approach some long term gold bulls took toward gold, initiating a temporary short directly after Labor Day, is now in the process of backfiring badly.

 

Regards,
Jim

 

My Dear Extended Family,

 

Monty Guild, a friend of mine for more than forty years, is the most honest and capable man, in my opinion, in money management.

 

I respect Monty’s feelings on many matters, certainly the macro picture. Monty, like I, believe it is possible that coordinated central bank actions in the USA, EU, Japan and China are being discussed. The economic problems are so severe, so international, so global, so entwined, so insoluble and still caused primarily by the greed of 1990 to present finance in the form of OTC derivatives that only coordinated global action can kick this can one more time.

 

Gold is truly going to and through $3500. The gold business is the best business to be in.

 

Respectfully,
Jim

Click here to subscribe to Jim Sinclair’s email alerts:

 

  1. “Better hope your are on this physical train before it leaves the station.”

    I am, and have been for several years THANKS TO Jim Sinclair, Ted Butler, Jason Hommel, and the other LEGIT voices out there that have been speaking volumns to those that will listen. I see people nearly on a daily basis who otherwise are one of the sharpest knives in the drawer who, at the mention of silver, become a butter knife when it comes to accumulating PHYSICAL silver. I dunno.  It escapes me how that can happen when the internet opens a myriad of opportunities to LEARN about PHYSICAL SILVER.  Hopefully, more folks will smell the coffee soon because things are going to get VERY BAD, economically speaking, VERY SOON!

    Again, THANKS to the gents above who made me a millionaire!           

    • “Again, THANKS to the gents above who made me a millionaire!”
       
      Congrats, Silverrrrr!  Hi, Ho, Silver!  AWAY!!  lol
       
      I’m also a member of that club but did it differently… via the stock market and the Reagan 20 year bull market.  Others I know did it via starting successful businesses or real estate.  Lots of ways out there to financially “man up”.  Good thing, too, because we all have to do our own thing and multiple paths can be taken to reach the same goal.
       
      That said, yes, I too would like another pull-back in PMs to stock up a little more.  If gold takes off and silver goes along for the ride, the 1400 oz. I have stacked should do pretty darned well.  Not that I would object to having a few hundred more ozs., of course. In spite of the current price, it still might be good to drop some more fiat into the silver pot… especially if it can be gotten from some of those “investments” that are “going away”.
       
       

  2. Jim reminds me of another great thinker and philosopher—Jeff Foxworthy.
    “When your girl says we should start seeing other people, trust me. If she hasn’t cut a pony from the herd and starting riding him yet, she’s pulled a saddle from the barn”
    Heigh ho silver.  Mount up boys and girls, the ride is just about to begin.  Yee haw!

  3. Word on the street!
    I got my paycheck today and I was always able withdraw $1000 from the bank. Today was a surprise as the ABM limit each withdrawl to $800. So I had to perform 2 transactions. This is a CIBC in Ontario Canada.

    • In the not to distant future (in the US) we will have 100 dollar limit on ATMs.  That will come to pass after Obama takes our 401ks, pensions, and social security.  If you doubt this will be taking place, you have been living in a CAVE!

    • People better get their money out now! This reduction to $800 comes after Canada’s five largest banks recorded a $7.8 billion profit in the third quarter of 2012. This is utter BS.

    • They keep lowering the limit amount of dollars from withdraws at the bank? I hope that it’s not the same thing with TD bank but I’ll still continue to withdraw from my account whenever I receive some dollars.

  4. QE3 in September to me means $60-$65 high before years end. I think it will probably settle at years end somewhere in the mid 50′s after a large cartel smash and year end profit taking. October 2012 = April 2011

    Damn I was hoping for a little more time in the low 30′s. Got a bunch of projects Im working on to bring in a truck load of cash to buy more Phyz. I guess we will have to see if Bernanke introduces QE3 next week. 

  5. Stacker X   Are the projects you’re working on business related or personal.  I’ve seen businesses sell the future revenue stream through either through factoring receiveables for jobs done and waiting for payment. An alternate is an asset bassed sale.  Either one can accelerate the receipt of payments by 1-2 months.  There is a discount to doing this but it may be worth looking into.  Does your bank offer any sort of advance on work completed through a collateral based loan. 

  6. Working on more personal Business Projects. One is a Holiday Oriented business (purpose to bring in quick cash). The other is an iPad game app that I believe I can complete by maybe mid November. Been working on the app for some time. I believe it will be very well received. Hoping the Bernank and company can keep shit together long enough to bring in profits. Profits = more Phyzz.

  7. I was going to say — surely when people see their bank withdrawals being limited they will rise up and put a stop to this madness.  But then I watched just a little of the DNC last night and the interviews regarding corporate profits and just think the people are completely lost.  I know Mr.S. just couldn’t believe the answers he was getting from these people.  I think I have conditioned myself to spot them from a mile away.  It is just a 6th sense, something like a spidy tingle, when I’m coming into contact with one of them.  The eyes give it away sometimes as they are just glazed over and have that Stepford Wives kind of look to them.
     
    This is just disgusting about limiting access to ones own hard earned money.

    • “I was going to say — surely when people see their bank withdrawals being limited they will rise up and put a stop to this madness.”
       
      All part of the program, IMHO, to guide us all to an all-digital currency by making the use of cash more and more difficult until we simple tire of all the BS associated with using it.  As for myself, if cash withdrawals are limited to $100 in the US, I will close my accounts and move that money out of their silly-assed banking system.  Probably should have already but inertia dies hard.  :-/

  8. StackerX  I think silver will still be a bargain at $40-50 an ounce and probably won’t exceed that this year. I could be wrong but there are some tremendously powerful forces that want to keep the price limited to mid double digits.
    Daveon
    There are key indicators to watch for when your bank has trouble or is being compelled by the government to do things that seem contrary to good client relationships.  Limiting cash withdrawals is a key indicator since either the bank has a run on its deposit base or its capital is shrinking.  See Spain and italy for that. ATM shutdowns and bank troubles with a series of customer accounts are very telling.
      The government really wants to ring fence the people by making cash an unacceptable means of transactions. The new Canadian currency seems to be heading in that direction. Mint Coin?
    While I could withdraw $5,000 from my bank, anything that goes for more than $2,000 requires a federal form filed naming you as making a large withdrawal.
      When it becomes a waiver that makes clear a compelling reason not to withdraw then I would get really worried.  I have heard that Canadian housing is getting towards a bubble.  If Canadian banks are sniffing that out they may try to shut down the wholesale removal of cash from their vaults.   Keep us apprised of these situations. 
    Anyone else seeing limitations placed on cash withdrawals should note them here.  Think of it as a rogues gallery of bankers gone bad.  We should compile a list of banks both small and large that are going into crisis mode. Maybe Doc can make a forum section for that purpose. Nark out the bankers

    • “Anyone else seeing limitations placed on cash withdrawals should note them here.”
       
      Will do, AG, but so far not.  My local CU doesn’t have more than a few thousand dollars on hand at any given time, so they request that any clients needing to make a withdrawal of more than $500 to phone in the request and they will get the money from their central vault. This only takes 2 days, so no biggie.  I have taken withdrawals of cash in the amounts of $8000, $5000, and $3000 with no difficulties at all.  They even call me to let me know that the money is ready to be picked up.  They never ask why I want the money or ask any other question that is none of their business.  Not sure how the local banks are doing in this regard but the CU seems up to the task… so far.
       

  9. (In a previous thread), XC Skater asks,
    “Why not give money to the poor?” as though the poor are the cause of the present financial woes.
     
    Let’s give money to the rich instead.  Let’s give it to the bankers, the corporations, CEO’s, and others who are already multimillionaires.
     
    Oh, never mind, we are already giving them the money!
     
    XC Skater, perhaps we should not be so quick as to bash the poor.  The real culprits would like you to believe the poor are the ones to blame, rather than themselves.

    • Great Points, Mammoth Old Boy! 

      We need to realize, that the Poor are not the problem, (although the Elites use them as a tool)
      We need to realize, that the  Rich are not the problem, (although we do give them money, and the Elites use THEM as a tool) 
      We need to realize, that the  middle class are not the problem, (but the Elites pit the Poor against the MC, and the MC against the middle class)
      WE NEED TO REALIZE THAT THE INVISIBLE ELITES ARE THE _ONLY PROBLEM_!!!

      They are the upper .001% of the 1%’ers!  

  10. Call me old fashion but I only keep in my bank account the minimum amount I need to keep the account open and free. The rest I withdraw and keep the cash in my safe. Once I get the cash to a high enough level, I buy PMs and put those in the safe. I deal with people on a cash basis as much as I can.
     
    If you can’t hold it or at least touch it, you don’t really own it.

  11. Now, back to the topic of this thread:
    With PM’s recent price jumps and sudden volatility – after being so mild-mannered all summer – the possibility exists there may be some downward spikes ahead.  It might be a good idea to not jump in and throw everything you have at PM’s ‘now that the price is rising,’ but to keep at least some dry powder just in case PM’s drop.  Also, I would expect such a sudden price drop to be short-lived.
     
    Having said that, I am sorting through my stacks of junk and weeding out the worn coins for possible sale, should Silver continue to increase.  You know – the Barber ‘smoothies,‘ dateless Standing Liberties, worn Morgans…stuff like that.  (The shiny coins stay!)

    • I agree silverrrr, should silver rise to $1,000/oz and that is not a farfetched price as some would suggest. At that point in time an American Silver Eagle would have a worth of $1,000. Those will be useful in the paying off of a home, car, and large debt. But to buy gas, food, eating out, tickets to the movies would better be served by using junk silver. Bartering may be one economic way of exchanging goods and services for a period of time.

  12. There are millions of people who are absolutely clueless to what is going on behind the scenes! They will be in for a rude awakening when the shit hits the fan! They are waiting in the mainstream media to tell them. Shit already has hit the fan and they are completely unaware. Go ahead keep watching American Idol and X Factor and be dumbed down. 

     Millionaire  here we come!!! Just take care of my health and watch the Silver and Gold Rise. See the female in the picture. I will be in Brazil looking for her!

  13. If you want to remain in the banking system and msot of the time it is hard not to have a bank account, the Credit Unions are the last bastion of reasonable bankers who actually think about their loan underwriting.  They have not be as seduced as regular banks so you can do things that regulars banks wont allow.  One more thing.
    If you read the FDIC insurance policy statement in the lobby of all banks, note one bit of small print.  CDs and other interest bearing accounts are not covered by FDIC insurance.  You may want to review your accounts to see if you are covered.  CU’s are under a different federal account insurance system too.

    • “If you read the FDIC insurance policy statement in the lobby of all banks, note one bit of small print.  CDs and other interest bearing accounts are not covered by FDIC insurance.”

      I have not read the FDIC policy but I do know that my step-Dad had a jumbo CD at Indy Mac bank and that when they went TU he got his $100k AND the $5k in interest that he was owed.  Indy Mac was under FDIC control at that time.  It took a few weeks to get sorted out but it all worked out in the end.  Not sure what the intimate details of the process were but his money was not lost due to Indy Mac’s failure.
       

  14. Jim Sinclair: If gold reaches $3,500 on this move, expect silver to EASILY CLEAR $100/OZ!!! Really? Then the manipulation continues. However when the manipulation ends, the results will be seen in the multiples of hundreds of dollars per oz, not a measly $100/oz.

    • Ricin3000
       With 10k Euro gold that would be a bit cumbersome to sell if you wanted small amounts of currency .  My thought is that silver has a great deal of additional price movement potential, perhaps 5 or 10 to 1.  Gold–probably not so much.  Maybe 3 to 1.  If you traded your gold for silver at a gold to silver ratio of 51 to 1 as of today you would get a healthy amount of silver.   I dont know what 10k euro would get in silver, maybe 400 oz,  but the results should be beneficial for you. 

      If GTSR moves to 25 to 1 your value doubles. If gold goes to $3,500 an ounce, effectivvely doubling, and GTSR is 25 to 1 you have quadrupled your value. 
      Silver is spendable, less likely to be subject to government dictates, flies under the radar more than gold, has the industrial and commercial value and can be sold in small amounts such as one silver coin or round.  If one coin is 4 times the value at time of trade, that would be about $125 US or $100 Euro.  You would have 400 ounces approx or E40,000. Given a bit of time that is a very reasonable return for an ultra safe currency. 
      I traded about 30 oz of gold early last year when the GTSR was about 55 and after transaction cost of about 3%, I had a lot more silver than before, boosting my stack substantially, hence the blog handle I use.

  15. My stack is what it is, I don’t have the finances to add right now. Been to busy buying food and canning garden stuff. It is small but may be enough to get me by a year on top of the food I have stored.

  16. You can look up my previous posts as I kind of nailed this one.  Countries are implementing QE just in time to affect the November elections by pumping up the markets and making everyone do a hip, hip, hurray on Wall Street! Maybe they are trying to use China and Europe this round where they step up to the plate and buy our bonds as a temporary boost.
    This gets us through November or December before reality kicks back in?
     
     

  17. If your “small” stack is like ~500 oz silver I think you’re going to last for 5-10 years, especially if you have the means and circumstances to stack food and stuff. What I’m thinking about is taking the plus on the small gold stack that I have to push it into silver which promises much more to add to my silver stack for now.
     
    Single grams of gold? Uhm, that equals single oz of silver. So to make the point clear: if I (and you?) are small potatoes, isn’t owning gold a futile thing and aren’t I/you much better off to have the equivalent in silver right now and certainly a couple of years ahead. Heck over here they’re selling 50 grams silver bars that can be broken up in single gram pieces. One gram this time spot price is 0.85 EUR. The premium on those bars is insane. They are Switserland issued bars. I was stupid enough to buy one 50gx1 Valcombi bar of gold around new year (good buying time). Even those get bought back at less now than what they cost then. Don’t buy into that crap, nor 1/2 oz silver or gold coins. You just pay more.
     
    Love,
     
    R3K

    • Great point, I really lusted after the divisible Silver/Gram plates, but the premium is HORRIBLE for silver, the Gold Premium is not that bad, comparitively. 1/4 and 1/10 oz rounds are a way better deal by comparison (in Silver). I like (and hope to still purchase) the 4 x 1/4 oz divisible rounds and ingots. Silver Stagecoach. Silver Snowball is NOT a good deal, it’s over the 1 oz Price for a .5 Oz divisible round! BAD DEAL, IMO

  18. I wanted to buy a seat from the physical silver train but all the seats are taken. What I mean is that I wanted to buy some silver but all the buyers already purchased them so it’s hard to buy silver right now.

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