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Jim Sinclair predicts physical gold will soon replace paper gold to fix prices

By: Peter Cooper, Arabian Money

-- Posted Thursday, 23 May 2013 | | Disqus

Veteran gold trader Jim Sinclair, one of the most successful precious metal traders alive, predicts that physical gold is going to replace the paper gold of the futures market to set the price of the yellow metal.


Some of our readers have not encountered Mr. Sinclair before and find him somewhat forthright and self-assertive. We can only say that his track record speaks for itself.

Who else hit the target for the gold price just right a decade after the bull market started in the early 2,000s? Who else advised the Hunt Brothers in the late 70s’ gold boom? We think he is well worth listening to if you are a precious metals investor yourself.

End of paper gold

‘Paper Gold must cease to function,’ his latest missive opines. ‘Manipulation without even a concern to conceal is no longer acceptable. Gold bullion must be emancipated from no gold paper gold. The key to the emancipation of physical gold from paper gold is the warehouse supply held primarily by the Comex.

‘This supply of gold has been in a distinct and significant down trend for which under present circumstances there seems little relief. Instead of the manipulation of gold lower stopping physical gold demand, it ignited a volume bull market in physical gold during a price bear phase in paper gold.’

However, Mr. Sinclair is fully aware of how the markets are manipulated by the gold banks. But he towers above them with his analysis.

‘The Gold banks can be counted on to see their views as the word of a gold-man god. They still feel physical demand is an aberration that they, being all powerful and mighty, can extinguish by pounding paperless gold anytime it sticks its head up. This time they are so wrong.

‘The publishing of the concept of bail-in at the highest financial levels everywhere in the Western financial world has you, me and every thinking person afraid to leave significant funds on deposit in any bank. It makes the products that banks sell (which are all some form of deposit) the last item any intelligent person wants in their portfolio.

What recovery?

‘Everyone knows this economic recovery is hanging on by a wing, a prayer and lots of lies. Everyone knows the balance sheets of the major banks in the USA are total cartoons as a product of FASB allowing banks to value their OTC derivative paper at any price they select.

‘Many wise people suspect that if the inventory of major banks was to be held to discipline of valuing it at something like what it could be sold for, the banks would have more colossal losses.

‘It is possible that then the funds now reporting in depositor’s accounts would no longer exists as was the truth in Cyprus.

‘There are major entities from billionaires to sovereigns that have selected gold to be their medium of savings. It is about time that you have become tired of having your savings take on a form of volatility that must be unwelcome.

Buy physical gold

If it is not today, the reality that paper gold is not gold is going to strike you soon. It is time you did something about it as in physical gold you have almost all above ground supply now.

‘The answer to where has all the gold gone is well known by you, the new super wealthy. You have been accumulating gold for a decade knowing full well what the future of money and the future of gold is. When you have had enough you can shake these fraudulent gold manipulators off your back in one great shake… Take delivery and end the slavery of real gold to false paper by bringing it to a screeching halt.’

-- Posted Thursday, 23 May 2013 | Digg This Article | Source:

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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, 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 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 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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