given the realities.
Jim Sinclair had an interview with King World News today which a number of friends of Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!) and www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) discussed at length with one of them, Arnold Bock, putting together this synopsis of what Sinclair was conveying.
My take is that Sinclair is making a big issue of sovereign debt and financial institutional debt. He knows that all the derivative ‘insurance’ on these debts are basically useless in that there is no liquidity and financial ability for anyone to make good on their obligations.
Everyone and everything is a matter of buying time kicking the can down the road and hoping something useful might happen in the interval. If nothing else, the implosions will occur on someone else’s watch.
He says the price of gold isn’t the real issue, but rather the gradual and measured way at which it rises. If there is too much volatility it draws very unfavorable attention to the deficiencies in the paper money system. Not only that, the countries and the financial institutions are mostly bankrupt. The goal currently is to extend and pretend that all is in hand and will go more or less ok into the future.
The absence of real liquidity in the financial institutions is one of the reasons for printing money/QE to Infinity. He says this in terms of amounts printed, not the time involved.
His conclusions? Gold will win out and rocket up in price by 2015. There is no other possibility given the realities.
Again, the above is a summary of what Sinclair had to say but to hear his every word and all the nuances you are encouraged to visit KNW and hear his actual comments.
Whatever their reasons, the number of investors wanting exposure to gold is increasing. Many who ignored it a decade ago are now buying. Those who started buying, say, five years ago, continue purchasing it today in spite of paying twice what they paid then. Slowly but surely, it’s becoming more important to more people…but what happens when it becomes a must-own asset to a substantial majority instead of a small minority? Sure, the price will rise, probably parabolically, but putting aside speculation on the price of gold for now, have you thought about what happens if you have trouble finding any actual, physical gold to buy? [Let’s explore that possibility and what that would mean for gold stocks in such an eventuality.] Words: 870
Every fiat currency known to man has failed at one time or another – every one – and ours will be no exception! What factors are contributing to this eventuality and what can be done to protect ourselves from this impending event? [Let me explain and provide you with links to 37 supportive articles to give you a complete picture of what is unfolding and why.] Words: 2700
151 analysts maintain that gold will eventually reach a parabolic peak price of at least $3,000/ozt. before the bubble bursts of which 101 see gold reaching at least $5,000/ozt., 17 predict a parabolic peak price of as much as $10,000 per troy ounce and a further 13 are on record as saying gold could go even higher than that. Take a look here at who is projecting what, by when and why. Words: 844
That governments will want – and will NEED – much, much higher gold and silver prices in the future is counter intuitive, given that they have done everything within their power to throttle back and to keep a lid on bullion prices. Let me explain why. Words: 1300
James G. Rickards, author of the current best seller Currency Wars, is so informed and articulate that he is almost scary in his clarity. He is the only person who essentially says what I have been saying about the “hidden” intent of the US Treasury and Central Bank – to deliberately weaken the US dollar and to cause price inflation, all in the interests of improving US competitiveness and to pay debt through financial repression. Ergo…they indirectly want and will cause the price of precious metals to escalate. Words: 398