-- Posted Wednesday, 6 June 2012 | | Disqus

Veteran gold trader and a former adviser to the Hunt Brothers in the silver spike of 1980, Jim Sinclair is now saying boldly on his website jsmineset.com that ‘The end is not near, it is here and now’ in reference to the global economy.

That means of course that the time for gold and silver prices to hit the roof is also very close, and much closer than anybody else is currently forecasting. Mr Sinclair is laughing at George Soros for saying that the euro has three months to sort itself out. He thinks it will be lucky to have three weeks.

End is here?

After a couple of years of crises in the euro zone market commentators may have become somewhat hardened to bad news and in danger of missing the real denouement when it is actually about to happen.

The Greek election on June 17th is only 11 days away and is the obvious flash point ahead. Meeting after meeting of European leaders and committees do not seem to be getting anywhere. Nobody really seems to have a handle on the situation.

The danger of simply falling over the edge of the precipice with everybody behaving like a flock of disturbed sheep is only too clear. ArabianMoney reads the earnest US op-eds about what Europe ought to do, should do or could do with some amusement. Europe is not the USA with your federal institutions and history.

Master forecaster

Mr Sinclair could therefore well be right. He’s the guy who predicted back in the early 2000s with gold around $300 an ounce that gold would reach $1,650 within a decade. Now he is talking about ‘quantitative easing to the moon’ and a similar trajectory for gold and silver prices.

For the central bankers of the world would have only one way to respond to another global financial crisis and that would be massive money printing to inflate debts away and reset the global financial system. Nothing else could be done.

It is the gold and silver bugs contention that this would crash equity, real estate and bond markets around the world and send money pouring into the only money that can never be printed, gold and silver. Can this really happen? We may not have long to wait to find out if Mr Sinclair is right again.

-- Posted Wednesday, 6 June 2012 | Digg This Article

About Peter Cooper:
Oxford University educated financial journalist Peter Cooper found himself made redundant by Emap plc in London in the mid-1990s and decided to rebuild his career in Dubai as launch editor of the pioneering magazine Gulf Business. He returned briefly to London in 1999 to complete his first book, a history of the Bovis construction group.

Then in 2000 he went back to Dubai to become an Internet entrepreneur, just as the dot-com market crashed. But he stumbled across the opportunity to become a partner in www.ameinfo.com, which later became the Middle East's leading English language business news website.

Over the course of the next seven years he had a ringside seat as editor-in-chief writing about the remarkable transformation of Dubai into a global business and financial hub city. At the same time www.ameinfo.com prospered and was sold in 2006 to Emap plc for $27 million, completing the career circle back to where it began a decade earlier.

He remains a lively commentator and columnist as a freelance journalist based in Dubai and travels extensively each summer with his wife Svetlana. His financial blog www.arabianmoney.net is attracting increasing attention with its focus on investment in gold and silver as a means of prospering during a time of great consumer price inflation and asset price deflation.

Order my book online from this link

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