stare bastards in the eye SinclairWith sentiment among the precious metals community remaining downright terrible (to see just how bearish the current sentiment is, peruse the reader comments on today’s silver chart of the day) legendary gold trader Jim Sinclair continued his efforts tonight to convince PM investors to sit tight and be right.
Sinclair again informs readers that the gold boys (bullion bankers) will soon flip their naked short positions net long, propelling gold to $3,500 an ounces (Doc’s note: and silver likely to $90).

Sinclair states that legendary 10+ baggers will be seen in the mining shares sector, and that precious metals investors must stare the bastards in the eye and defend themselves- by simply being right and sitting tight.

For the first time ever, the legendary gold trader has advised metals investors to go ALL-IN on further price weakness!

Sinclair: Stare the Bastards in the Eye and Defend Yourself!

 

 

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From Jim Sinclair:

I am at the airport going to the mid-west on corporate business. I have been handled, touched and am without my shoes. That is so infuriating because we all know it is more political than preventive. We all know it is to help you learn to surrender your freedom for false protection. We all know it is part of making totally redundant the US Constitution.

I see the US dollar is headed back towards its line in the sand at USDX .7900. It gets hard to manipulate gold in the face of a weaker dollar that is going to get much weaker.

It is not easy to stare the bastards in the eye. Soon the boys will nail a huge long position if they already haven’t and the manipulation to and above $3500 will take place. Soon your shares will be what the hot shots call a ten and more bagger.

Screw the manipulators on the short side. Stare them down or do not look at the smart phone or quote machine. March will be totally different.

Now I board the cattle car to be insulted at 30,000 feet, just like at the airport at ground level.

This gold and silver reaction is coming to an end. In a few weeks it will be ancient history. Defend yourself by DOING NOTHING. Those of you not fully committed, go to debt free into a full position on any further weakness.

Sincerely,
Jim

 

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  1. Sinclair’s starting to sound a little like Jeff Berwick at Dollar Vigilante.  At his age he doesn’t like the porn star grobe and tickle treatment any more than the rest of us.  Sinclair.  buy a jet (or fractional ownership)  Buffet has them discounted for silver and gold stackers.

    • Yeah, the TSA should probably pay SOME attention to the fact that there have been no problems with octogenarian Caucasian terrorists on airplanes.  Good grief, already!   Oh, wait!  I forgot myself and tried to apply a shred of rationality to the situation.  Shame on me.

    • Yes AGXIIK ,   Mr. Sinclair is all-in, is an anarcho-capitalist perhaps. I was listening to Doug Casey in a poor interview [on Casey's part] but at the end he was an anarcho-capitalist, in that branch of the libertarian party, he admitted to it. Not that this bothered me, but to see old timers being this hip is pretty refreshing for me, being sorta kinda semi-retired in my 60s.

  2. Doc, with all due respect, no one is bearish, but we are tired of the specific number predictions. I could draw a parabola showing an upward trend for Apple stock and use that as “proof” to prophesy about where Apple is headed. I appreciate your work, but I would recommend caution before making too many assumptions about your readers. With respect.

    • By the way, I am already “all in.” I have zero doubts about the future of precious metals. The only thing that I am unsure about are these silly predictions. They are completely unnecessary. We build our confidence on the fundamental truths about where the market is headed. I am so thankful for folks like you and durden and turd who show us reality. Let’s stick with what is tangible and provable. That is what our hope is built on.

  3. 2 years of dead wrong predictions by so many “legendary” investors.  Lengthen the timeline year by year.  Good thing these guys have PM premiums to make their money on.  Anyone want to buy a salvage title 1971 VW Beetle?  No motor, but it still runs.

  4. I don’t need to read other people’s BS to know what needs to be done. I could care less if anyone sells all their silver or gold, all I know is I will be keeping mine. If people are so weak willed that they are influenced by predictions, other peoples opinions or things out of their control then they deserve what they get. I am stacking more silver, staying away from toilet paper ‘investments’ and  staying the course regardless of the ‘noise’ that is out there. Everyone else can do as they please. I don’t understand why Sinclair cares so much that other people protect themselves, unless he is doing it out of kindness or to sell something, doesn’t matter, most of his words and the words of all others is no concern to me. The only reason I go to this site and others it to look for a very rare morsel of truth or understanding. Most article and comments are of little value, but every now and again something is brought forward that is different and enlightening, but this seldom happens.

    • Jim has studied spirituality with famous Indian gurus.  I think he helps people because he actually cares and it is good karma.   JS has something things in spades that a lot of people don’t: great understanding, compassion, backbone, morality, and more. BTW, he didn’t say go “all in.”   He said if you don’t have a “full position” yet to get a full position on further weakness.   A full position is different for everyone.   It could mean 10-20% of your net wealth held in bullion for instance.

  5. LMAO Mr. Sinclair is really getting desperate as he is all in on Gold and he is afraid a lot of people are getting cold feet and are going to dump their investments which they are to them but to me it’s for survival. So I’ll be keeping mine. Lol

    • Well, the average STACKER took that advice some time ago for sure.  As for the rest, about 97% of the population does not own ANY physical gold or silver outside of a few pieces of jewelry.  If they inherit any silver coins, they either sell or spend them because they have no idea of their real worth.

  6. Hello to all. I have been following SD for the last year or so and finally decided to register. My background is commodities and stock chartist since 1993. I currently perform research and analysis. I have enjoyed many articles and comments from members here, thank you for that. :)
    I wanted to chime in if I may regarding Mr. Sinclair. I have much respect for him and his history within the gold sector. I do want to say that his recent emails, say over the last year have become increasingly more agitated sounding. he is frustrated with those who are filling his inbox with emails and their concerns. Certainly understandable given market action the last 2 years.
    Having said this, Mr. Sinclair really, in my opinion, has only himself to blame for his current position. One cannot continue to make price claims of 3,500$+ for years that at this time is proven to be too broad, and it is THIS kind of forecasting that causes such frustrations.
    Indeed, it is only a matter of time and the result of current monetary policy that we will see rising prices. It is why we are invested in silver, gold, resource shares, etc. Current policy supports long term higher prices, likely much higher than we have seen. My problem I see with so many “analysts” is too many fighting their own ego and wanting to make a name for themselves. This is a conflict with so many of the names we read about, tossing around figures that in my opinion offer nothing of value to prudent investors. over the years, I have seen the claims and figures get increasingly larger and I am finding this to really only serve the purpose of creating sales, not offering investors much other than hype.
    It is these factors that are causing both confusion and frustration because telling someone that gold is going to 3,500 and beyond does nothing to assist them in planning and executing a sound plan, it only causes them over time to expect this “overnight” type of move. Now since may 2011, many have become frustrated with all the hype as well they should be.
    It is prudent indeed to be stacking what one can AFFORD. It is dangerous to hang on to every word and claim about doubling and tripling of current prices that only feed discontentment and result in frustration to many due to the manner in which these claims are stated. Mr. Sinclair and a host of others are now finding themselves feeling the fruit of making their claims for years and many have already “gone all in” with more than they could afford. They must take responsibility for their actions, but the hype certainly contributes to this.
    Hype helps create sales, but it is also causing many problems with some folks that have invested based upon that any day now hype, and those making the claims are feeling the heat. I would rather read of more balanced approaches without the hype. This market sector needs NO hype, as current policy will result in exactly what will launch metals higher, but it is futile and unproductive to use hype and when one looks objectively at what has been said by many, it begins to look like there is as much manipulation of investors coming from many of these folks trying to make a name for themselves, as there is in current market action.
    All the support for much higher prices is already present. It is a timing factor and it will take certain monetary events coming that will see a much larger entry in physical metals and shares. Most are still in denial of what the outcome of current policy will be…when that denial is wiped out by reality, we will begin to see both volatile action hit all markets, especially metals as more begin to understand there can be no trust in paper based assets. i hope it does not take another wipe out of peoples wealth or retirements before they realize how to protect themselves from being looted by the fact that much of wall street has been hijacked by criminals and is in fact artificial, not at all based upon real earnings and quality.
    Thank you for allowing me to share my opinion and I look forward to being a part of SD. Thank you Doc for the site.
    Jim

    • Well said Jim and welcome to the forum, I’m a Sinclair fan myself but I also see the fear and frustrations in his e-mails which he has caused himself the past couple of weeks.
      As for me, one thing I received from Chris Duane is the saying, “Listen To All Follow None.” I only go with my inner feelings when I make a decision, it’s my decision alone which I have to live with and I blame no one else but myself if things go wrong. Keep Stacking

    • I concur… very well said, indeed, and a thoughtful comment right from the start.  Well done, and welcome to the forum.  I look forward to more comments from you.

  7. This guy comes out weekly saying something similar and sometime multiple times a week… Sinclair said the same thing when we hit $46.  If you go all in now and we drop 40% again, you will be waiting YEARS to recoup.  I just dont know how these guys expect to keep credibility making these statements continuously.  I said a year ago it would be 2014 before we got close to $50 again and everyone laughed and poked fun here, now guys pray that in 10 months we will be closer to $50 than $25. 

    • It’s really a broad stroking comment to say that guys are praying for silver to hit $50 in 10 months rather than $25.  Wouldn’t that really depend on each person’s long-term goals for PM acquisition?  There are parts of me that would like to see PMs spike up and in turn push my net worth up with them.  But a big part of me is really enjoying the stagnation or suppression of prices so that I can continue to stack more at (presumably) artificially lower prices.  My plan is to continue to stack PMs for many more years.  Yesterday I purchased a modest quantity of junk silver at 22.6 times face.  Why would I want to pay 30 times face or more for the same thing in 10 months? 
      Many of the ‘doom and gloom’ scenarios in the articles or comment sections here aren’t all rosy for us stackers.  Once the majority of the sheeple are aroused from their slumber and start jumping into the PM pool, that will also mark the end of our “cheap” purchases.  Heck, it might even signal an end to any purchases depending on what prices and supply do.
      Just my two cents, but I’d love to see silver hover in its current range for a few more years so that my stack gets bigger and bigger.  All the calls for $50, $100 or higher silver will eventually come true, but why would any of us want to rush it?  Thanks for reading :)

    • @stillstackin
      For someone with a long horizon (patience), the low prices are good.
      Let’s say my “silver to the moon” beliefs/hopes are correct. $ x 10 in roughly 10 years from the 2012 dips.
      I’d rather have silver take a low path towards that goal than a high one. You get to have more ounces at that projected exit point, should it indeed transpire that way.
      Or ideally, the price would wait a significant times before going beserk beyond anyone’s dreams, to plateau once maxing out. That’s be dead simple to trade. Just have faith and stack. Exit when the elevator goes *ping* for the penthouse suite.
      Since I also try some small paper trades, I’d be best served with a absolute flat uptrend that holds for another 10 years. Gradual but strong trend as super easy to trade. However when physical buyers start going around COMEX more, volatility there could go crazy, making it untradable.
      In all this sideways nonsense it’s really hard to stay commited. 

  8. “All In” has become the buzzphrase for PM phyzz afficianados. While that may be catchy it fails to describe exactly why one may be of that mindset.So if you dont mind i will briefly explain mine. First off im not “All In”, that would be paramount to a trip to the funnyfarm with intravenous chemical concoctions just to keep me borderline controllable. Like most of you i have stacked long before I knew of SD and enjoy the comments and learn more of mindset as each day goes by. I cant go “All In”… i like most need to hedge just in case Im wrong ( god help this palnet if we are wrong ) I still have real estate, businesses and family. “All In” for me would be a fantasy so I am tempering with the following ” In enough for comfort”. Carry On folks it will get worse before it gets better. ;-)

    • Perhaps this boils down to what does “all in” mean?  To some, it means that everything they have is invested in some particular thing.  To others, it could mean that they have a 25% allocation to PMs and are at that level now.
       
      As an experienced investor, I know that asset allocation is one of the few things we can do that really improves our returns over time.  If one were to have only PMs as investments or savings, however you want to look at it, would mean that they are not diversified over multiple asset classes.  Yes, they could do extremely well under just the right conditions but they could also do quite poorly under just the wrong conditions.  More likely, they would be somewhere between those extremes.  
       
      Take 2012 for example.  While gold was up about 6% and silver about 8%, there were numerous mutual funds and ETFs that were up by 16-18%.  Profits from those investments can be funneled into physical PMs, thus increasing the stack and maintaining the proper percentage of funds the investor has allocated to various investments.
       
      People in the PM arena have been touting the stocks of gold and silver companies for some time now but just when we think that the severe beating these companies have taken is about over, they get clobbered some more.  Many people who own mining company shares are asking, “Will this never end?!”.  Others have surrendered in order to cut their already significant losses.  Yes, it is possible that there will be some 5x and 10x gains in these shares but WHEN will that be?  No one knows and I have a healthy sense of distrust for those who claim that they do know. 

  9. Interesting take from preciousmetalspete on Jim Sinclair:
     
    Tuesday, 12 February 2013


    The Torment of Half-The-Story.
     
    I feel quite sorry for Jim Sinclair. The poor man is caught in a trap.

    If, for a brief moment, we suppose Jim embodies his famous Skier cartoon figure, the strain and the pain of the unstoppably divergent paths each ski is taking -must take!- appears to be tearing him apart. The inner turmoil is palpable. His final words in the below extract intended far more as a rallying call to self than anything else.

    My Dear Extended Family,
     
    There is no way that any entity, be it private, public or both, is going to manipulate away the debt situation faced today.There is no way that the US is going to become a net exporter of energy in amounts that could even slow down this rate of growth in the debt.There is no way this flat line recovery is going to turn into a boom in business.There is no way that the unemployment figures are going to have a sustained improvement short of all the unemployed giving up hope and shifting to the underemployed list.There is no way that you can set such records in increased liquidity and not have explosion inflation regardless of business activity.There is no way that the Fed can liquidate its holdings of treasuries in an orderly manner without collapsing the Treasury market.There is no way the Fed can liquidate any toxic paper it took on from banks internationally in the crisis of 2008.There is no way the Fed can step away from QE which would mean higher interest rates without collapsing the flat line so called economic recovery.There is no way any human being could answer thousands of emails that are now overwhelming me.
     
    I am deeply grateful for those CIGA around the world that browse for me, helping me keep in present time with all the unfolding monetary matters globally.
     
    Whiners need only read the opening here to know that this is a passing but well constructed manipulative cloud. Those that are trying simply to frustrate me by sending emails cursing my genes that I was born are simply wasting their time and entering the spam blocker.
     
    There is however a take away from this. Last night was the first time I went to sleep with a long list of incoming emails. I have no one to help me with emails because only I can answer them. For the first time, I must tell you that other than corporate emails I can no longer promise you prompt or even answers. I have a company to run, and that is my first order of business and that has always been and is my first order of business.
     
    Sincerely,
    Jim
     

    The torment is real, the turmoil is rational. It exists with good reason. Its existence is evidence of sanity.

    Jim Sinclair has told his readers an irrefutable truth. The outcome to this debt-fueled derivatives farce is precisely as he has spelt out many times: the re-setting of Gold Bullion’s public price to its TRUE VALUE. Only in this way can CB balance sheets be repaired. This outcome was, in fact, decided long ago and it will take place. There is NO doubt. Jim Sinclair,on this,has shared the ONLY means by which Joe No-one Public can protect himself.

    To borrow a phrase from Jim: 

    There is no way, however, that Jim Sinclair can advise you that the route to this outcome begins with the Comex public price of ‘gold’ hurtling downwards towards $150 before trading is halted.

    There is no way Jim Sinclair can act against the interests of his company.

    There is no way,then, that Jim Sinclair can give you anything but half the story.

    And it’s not by choice.

    • Thank you Eboy75 for sharing this. Indeed this “pete” makes valid observations in my opinion. in many cases, certainly there is conflicts, and it is true Jim and others cannot act nor make statements that would harm his business. it is this very thing I mentioned that breeds hype when no hype is needed. No one thought it would take this long for metals to react to current market forces and policy decisions, but the expected reaction will certainly come, but it will not come any quicker by making forecasts that at this time can simply not be taken any further than face value. 3500$ gold is a lofty forecast, and in my opinion, those deep into gold should first be planning a retest of all time highs before even considering price claims in the range of those making predictions. I respect Mr. Sinclair, but I do see he is feeling the heat and much of that heat is birthed out of his own persistent price claims. He is a good guy, one of the few left out there, but at some point, one must take a step back and re-evaluate their method of forecasting when it is causing them to not only feel the pressure of their claims, but may be affecting their revenues in other areas.
      Thank you for the article. One day Mr. Sinclair may be vindicated in his price claims, but I suspect before this occurs he will experience much more frustration. Instead of calling those concerned investors “whimps” or “whiners” as he has in some communications, perhaps it would be more respectable and proper to simply admit that sometimes even the best forecasts do not unfold as expected at this time.
       

    • The point of interest from his latest ramblings is the specifics of dates mentioned – he has only a short timeline of redemption after March…after this, and if his prediction doesn’t happen well…..its curtains for him as a guru.
      That being said, if he is indeed very connected then….time will tell!

  10. I’d love to know the track records of these long-time guru’s. What did they do or say in the long downtrands we’ve suffered through? Did anyone tell us to sell before the margin hikes of 2011?
    Buying is quite easy, nearly evvery strategy netts a decents average purchase price over the past year and a half. But we need to exit at some time also.

    • “But we need to exit at some time also.”
       
      Yes, we do… but we all have some sort of idea as to what constitutes the proper time.  Since PMs are my insurance policy against financial disaster, I will not be exiting my PM position until such a disaster or disasters occur.  Others will see it differently and that’s fine.  They laid down their money, same as me, and are fully entitled to pursue the course they see as best.  Others still seek to profit from moves in  PM prices, so tend to move into and out of the PM market as seems best to them in order to collect their profits.  
       
      As an investor, I understand each of these approaches and know that the one that is “best” all depends upon an unknowable future.  All we can do at the moment is what seems best to us in light of the info we now have.  We do need to be aware of the fact that things change; sometimes radically, so we need some options that we can use when things are in flux.  So far, my only option has been to buy more PMs when there is a price pull-back but to otherwise keep on stacking on a routine basis.  If there ever comes a day when the dollar is toast, this stack is very likely to come in mighty handy.
       

  11. I would say to jim, stop making these predictions, we all know they should have been priced at these levels years ago. Its the riggers that are responsible for our babies not going anywhere. But rest assured, when the physical shortages bite, and they will, as sure as the sun rises they will, there will be an explosion in prices and I dont think it will be gradual. It will be sudden and massive. Just buy at every opportunity and relax. We all know what ebay prices are and they are in excess of the paper price. That wont change. I buy every week. Sometimes 1 oz, sometimes 8, but I add every single week. The riggers are playing a game, a game that they will lose. You have seen the massive demand for physical from the mints. That metal doesnt come out of thin air like futures contracts do. The oi in silver is at record highs. Someone is clearly waiting to pull the trigger and stand for delivery. You need to buy before that happens. 

    • Good advice, ISS, and exactly what many of us are doing.
       
      “Just buy at every opportunity and relax.”
       
      Indeed so.  For me, buying PMs means that I have converted paper of dubious future value into something that is more solid and that should hold up much better over time than paper currency.  Holding physical PMs means that I do not have to worry about its “price” anymore because its value to me exceeds its current price… and by a good bit!
       
      “You have seen the massive demand for physical from the mints.”
       
      We have.  But at the same time, we also know that this demand from the mints is insignificant compared to the PM demands from Asia and the Central Banks around the world.
       
      “That metal doesnt come out of thin air like futures contracts do.”
       
      No, nor like Bernanke Bucks do!

  12. Could it be that for older PM analysts (I’m young) that are also bullish as a religion (I am), their beliefs are taking place for fear of it happening after their lifetimes?
    Vincent van Gogh only any sold paintings if ever, from pity. One of his works, which may have taken him a day to produce, now go for a couple DOZEN tons of silver. He may have foreseen this, but never lived it.
    I once was very vocal in a little sports related revolution, and did my part to enhance and advance it. I lost hope, and ever care, before it actually took over its particular market. 
    To religic believers, losing one’s faith can be uneventful, or very stressful.
    I am all-in silver, as little as that means. Don’even have gold to swap on any unexpected (by me) significant peaks in the gold silver ratio. Do I fear a real drop in prices? Kindof, but I am luckily happy with my stack. For a broke loser like myself it’s kind of cool. My risk is lower than some who may have a million worth (metric ton) of stack. 
    I’m young, so even if I bought at what will later be seen as a peak, I will likely live to see new days of silver glory. I’l be able to do something with it. Mr. Sinclair looks fit enough, but can he exchange his stack for a nice island and enjoy the easy life for another 30 years?

    • “For a broke loser like myself it’s kind of cool.”
       
      Broke, maybe, but a loser, never!  The real losers are the sheeple who are blissfully unaware that the path we are now on and cannot escape leads to the mutton packing plant.  Those of us who are AAA (Awake And AWARE) understand this and are stacking to ensure that when the SHTF, we will still have some wealth to support us.  Those without PMs will wither before the blast of the greatest financial disaster in human history.  They will be the real losers.  Some of them will survive by tilling our fields, carrying our water, digging our wells and ditches, chopping our wood, mucking out our stables and barns, cooking and serving our food and drink, and providing many other useful services for a wage sufficient for them to live.  Others who are less useful will not survive the coming hard times.  No stack + no skills = no future.

  13. Most articles and commentators are of little value to me, most all noise and whores. Sinclair is one of a very few I read anylonger but don’t understand why he feels he needs to get into the prediction game again(the march call). He already proved himself with the $1650 call in my mind. The rest? Screw ‘em-those who cave and bail out here….Who Cares!

    • Not everyone who finds a Sinclair missive has been into PMs for a long time or even a while.  Yes, there really are noobs out there who are freshly awakening.  It is they who Jim seems to be trying to move to action and get started stacking.  Some people need just a gentle nudge to get moving while others need a boot up their arse.  He seems to be attempting to provide both.
       
      As to why should he?  Simple self interest.  The more stackers there are out there, the fewer desperate and dangerous people there will be when the SHTF… which it will at some point.
       

  14. I’m not bailing, but you can be damn well sure I’ll be looking for an investment that will return more than 10% over the next 2 years.  No way am I going all in until I’m sure JP Morgan is out of the silver market.

    • The only two ways that I can see for this mind to be that profitable are: 1) there is a fantastically rich silver deposit in this mine that does not require the usual tonnage of rock to be processed to get the silver; or 2) the silver is a by-product from a mine where the main product covers all of the production costs.  Other than these two possibilities, it doesn’t look all that feasible to me.
       

  15. That’s a great price for reloadable brass Mary B. At the Carson gun show last weekend I saw just the brass ,  9 and 45,  for the price of what used to be factory fresh of same caliber.  20-30 cents per casing.  That reloader I mentioned a few weeks ago on the forum is a real Godsend.  He will crank out tons of rounds and can still get supplies.  We just picked up some fresh reloads and shared them out amongst some friends last week.  Are you able to get primers and powder?

  16. Jeep Patriot  I did not know Sinclair was part of that way of thinking.  It explains alot about Sinclair if he is firmly welded to that group. I;m not quite there yet and probably won’t get there in this lifetime—probably too much of a traditional upbringing. I admire their courage and forthrightness in calling out the sons of bitches that plague our lives, chief of which is Janey napolitano, the resurrection of everything that made the Nazis of old the most hated of the collectivists.  I should have known that Sinclair was closely allied to the Anarcho Capitalist.  His words make that much clearer to me now.  Thanks for mentioning it

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