Jim Sinclair’s Commentary

China is in charge of rare earths, strategic metals and materials.

They have a 100 year economic plan. The West does not have a viable economic plan for tomorrow.
The entity that has no plan is the most creative of all because it gets exactly what it wants – NOTHING.

Jim,

Here is a chart on rare earth elements and gold. Check out the trend energy surge

CIGA Eric

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Jim,

The US dollar can certainly hit .72 by January. In fact .76 by October would not be out of the question, followed by a bounce, then a downward move toward 72.

There is an immediate death cross in play with the 50 day moving average about to cross the 200 day to the downside.

Hope you are enjoying your trip.

CIGA Dr. Bob

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Jim,

Can you believe AngloGold is just now getting around to cancelling their gold hedges at a cost of $1.37 billion!

Their hedging contracts were set at an average gold price of less than $450 an ounce!!

UNBELIEVABLE!!

Best regards,
CIGA Black Swan

Dear Black Swan,

I can believe it.

I spent six figures between 2000 and 2002 advertising in the London Mining Journal and Mining Monthly plus a South African publication telling them that this was going to happen.

The master dumbbells in the price of gold are those egomaniacs that call themselves MAJORS. Major what?

Regards,
Jim

 

Gold Miners ETF – Breakout
CIGA Eric

Breakout!

Rising trend energy has been forecasting a breakout since May 2010. The chart below illustrates the minimum measured move of the cup and handle formation.

Gold Miners ETF (GDX):
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More… ^[4]

Retirement on Hold: American Workers $6 Trillion Short
CIGA Eric

This required a study? The American household is over leveraged to USA, Inc. USA, Inc is currently being debased to protect interests other than American households.

The study, conducted by Boston College’s Center for Retirement Research, says savings have been squeezed by declines in stock and housing values.

Source: finance.yahoo.com ^[5]

More… ^[6]

States cutting benefits for public-sector retirees
CIGA Eric

An outcome that will be replayed in nearly all States across the U.S.

After telegraphing his intentions for months, Christie spelled out the details of his proposal Tuesday. They include: repealing an increase in benefits approved years ago; eliminating automatic cost-of-living adjustments; raising the retirement age to 65 from 60 in many cases; reducing pension payouts for many future retirees; and requiring some employees to contribute more to their pensions.

"We must reverse the damage caused by fairy-tale promises that have fattened benefits and pensions to unsustainable levels," the governor said.

Source: finance.yahoo.com ^[7]

More… ^[8]

Jim,

Forget your $1650 gold target!

Fire, fire, fire… Soros is again moping on TV and the financial headlines are about gold being in a bubble!

Maybe he should take you up on that old million dollar bet and donate his winnings to charity. Oh wait a minute, what’s that? Last time he was warning about a gold bubble he had actually doubled up his bet on gold!

Like I said, forget $1650 gold because you will be right as you were in 1980 and gold will be looking further beyond to numbers more in Alf and Armstrong’s territory.

CIGA "The Gordon"

Dear CIGA "The Gordon:"

Bubble? My behind!

Soros should take a side trip to Dubai and make his statement at the gold store as he is trampled by those that want a currency devoid of liabilities.
Regards,
Jim

Soros warns on gold rally, says nothing safe
By Emily Chasan and Herbert Lash
NEW YORK | Wed Sep 15, 2010 5:49pm BST

NEW YORK (Reuters) – Billionaire financier George Soros said on Wednesday that gold prices might continue to rise after hitting record highs this week but he renewed a warning that gold is the "ultimate bubble."

Soros said that with economic and fiscal weakness crimping the developed world all investments are at risk because "this is a period of great uncertainty so nothing is very safe."

Soros also said that after asset classes set new highs there are almost always immediate reversals that disappoint investors. Soros’ hedge fund, Soros Fund Management LLC, has been heavily invested in gold and gold-mining companies.

More… ^[9]

George Soros buys gold despite dubbing it ‘ultimate bubble’
George Soros doubled his investment in the world’s largest gold fund – just weeks before claiming investing in the precious metal is now the "ultimate bubble".
By James Quinn, US Business Editor
Published: 10:44PM GMT 17 Feb 2010

Mr Soros – a legend in investing circles for his $10bn (£6.37bn) bet against the pound in 1992 which forced sterling out of the European exchange rate mechanism – increased his stake in the SPDR Gold Trust in the last quarter of 2009.

Regulatory filings show that his $8.8bn investment vehicle, Soros Fund Management, raised its stake in exchange-traded fund SPDR by 3.7m shares to 6.2m shares in the three months ending December 31, 2009.

The new shares were bought at a price of $421m, taking his total holding in the fund to $663m at the end of December.

More… ^[10]