Futures Magazine just posted an extended interview with Jim Sinclair: http://www.futuresmag.com/2012/05/01/jim-sinclair-has-something-to-say?ref=hp What do you think about what he says on gold and the dollar?
============= I am thankful for his focus & comments'' call over the past 10 years is $1650'' Good trends usually go/trend past the projections; He seems to be max bullish thru 2015.He maybe right; not that i would weight his comments more than price/ volume, but GLD,gold is a good uptrend/friend.SLV,silver is a good downtrend/friend , by most measures.
========== MM; Nice timing on that post, it enabled me to read the e-version of Jim Sinclair's interview-thats the kind of interview trarers may want to save/review. He may have even understated the US risk ... with the'' 7 biggest banks. .''.I saved a booklet, the coming ''bank bust,'' it was about 5 years early,LOL , but it had the derivatives positions of the top 20 banks. C & BAC were near the top of the trouble list, since that writer who shall be nameless, was about 5 years early, not much of a ''prediction''Also neither of them adressed all the REO/forclosed homes.................. Mostly agree with what he wrote, except ; the e- comment ''silver is not money for one practical reason its too heavy'' Well not only is silver money/legal tender, its lighter than copper, which is also still money, but a bit heavy,LOL That quote got edited out in the paper edition. If one was going to buy a pickup, with gold or silver, gold maybe better as he said, unless you want a good used one .Silver, would work then, like an old Sam''walmart'' Walton pickup .LOL Silver is in a downtrend/bear trend [1 yr chart]so i wouldnt want to trade US $$ for silver now. It does look ''heavy'' on the charts.He may have meant'' heavy '' in that sense, but probably not . Great interview ,differs some from the paper[FUTURES ] mag[ thanks,MM
Warren Buffet says he's buying gold. Not because he's bearish on the stock market (he's never bearish on the stock market) but because he just doesn't trust the Fed and is afraid they will make his dollars worthless. I think the quote on CNBC was something like, "I think they will do the right thing, but I'm buying gold because I don't trust them."
The payoff hedging dollars would give a higher return than gold. If you're worried about loss of purchasing power, buying foreign currencies is the only way to hedge a risk. Old Fashioned.
I'm just buying gold as a cash alternative. I have too much cash that is eventually going to go into the stock market. I've been buying stocks all the way up, but not sure I want to keep up that same pace over 1400. at the moment, I'm long USD in my forex account, but that can always change any second If we get a decent pullback in the market I'll sell the gold and buy stocks.
============== Old TIME; Gold & silver, especially gold have a 6,000 /+year track record; gold is a good risk /reward ratio on 1 yr, 3 yr, 5 yr weekly charts..... Not a prediction; simply wisdom.
============== Mr MM; You also may enjoy Dr Larry Bates book; The New Economic Disorder. Dr Bates was a banker,,bank seller, TN House Rep/Chairman of Banking/commerce; gold/silver dealer. Great read also