Jim Sinclair's Countdown To Dollar Implosion
Submitted by jeff34761 on Mon, 08/31/2009 - 10:14Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
It never ceases to amaze me what hype people will believe. The latest is a series of posts by Jim Sinclair who on August 14, started a countdown to dollar oblivion.
An 85 day countdown to a break on the US dollar below .76 from .78 hardly seems worthy of a countdown.
And it would be nice if Sinclair told us a bit more than "I am informed that Chinese interests want to see both in 2009."
Informed by who? A top ranking official? Minnie Mouse? Uncle Joe? At least give us a hint.
The thing about these kind of predictions is how predictably wrong they have all been.
Based on interpretations of the Commitment of Traders Reports (COT) we have see a couple countdowns to running out of gold and or silver on COMEX by various people. Those never happened. We have seen "gold to the moon" hyperinflation calls based on backwardation. Those never happened, either.
There is also a bunch of hype going around right now about bank holidays and a devaluation of the dollar vs. all major currencies coming up this Autumn. The across the board dollar devaluation idea is potty because the US dollar floats. There is nothing to devalue it to. And even if there was, Europe and Japan do not want stronger currencies and would not go along. For that matter the US would not want to do it either fearing a market crash. Yet, the theories persist.
If something does happen in November, it will not be because some blogger knows something. It will be happenstance.
But for those counting, it's about 70 days. I can hardly wait.
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
I am not sure I understand this comment...
"The across the board dollar devaluation idea is potty because the US dollar floats. There is nothing to devalue it to."
It can of course be devalued to zero by printing it into oblivion. Perhaps he needs someone to send him a Zimbabwean 1 trillion dollar bill? More Keynesian nonsense, and you can rest assured somewhere along the line there is a monetary incentive for him to spew this bile.
In the beginning of a change the patriot is a scarce man, and brave, and hated and scorned. When his cause succeeds, the timid join him, for then it costs nothing to be a patriot.
~Mark Twain
Always remember:
"It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds." ~ Samuel Adams
Stay IRATE, remain TIRELESS, and set those BRUSH FIRES everywhere you go and in all you do!
Mish is also an idiot... Jim
Mish is also an idiot... Jim Sinclair is right...
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
It was on
last night Katherine Austin Fitts (spelling may be off) was talking about the United Nations wants a new global currency and they must bring their new global currency to fruition so they can bring in their global form of government.I agree - buying gold is best to secure any value of wealth.
Detective Krum Investigates:
http://victory1project.wordpress.com/
http://v1-p.com/
Detective Krum Investigates:
http://victory1project.wordpress.com/
looks like Jim Sinclair is
looks like Jim Sinclair is right again.. read the first 3 or 4 articles on his site http://jsmineset.com/
some people never learn...
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
sierra
your new nick totally fits you.
with china buying IMF bonds
with china buying IMF bonds all I can say is .. tic....toc....tic...toc....tic...toc..
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
now some real history
now some real history lessons for jeffrey... this will be way over his head...
Will Gold reach $5000 plus?
http://moneytalks.net/index.php?view=article&catid=48%3Adail...
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
You said the same thing about oil and silver last year
You said the same thing about oil and silver last year. Last year when oil was $120, you predicted it was going to $200. Oil rallied to $140, as usual you claimed a false victory, then Oil corrected down, down, down to the $60's.
You also predicted silver would be $25 by Thanksgiving of last year, much higher after the collapse of COMEX (you predicted) in Dec. 2008. The only history lesson I've learned from you on the board is you are always wrong. Market corrections are healthy and a normal function of the free market. Get over yourself bad_karma. Its you that is in way over your head, you just can't admit it. You are still a year too early in your hyperinflation argument.
Sept, is typically the best month for upward prices in metals historically
( a seasonal adjustment). This does not mean Prechter is wrong, or that metals will not correct later and create a buying opportunity.
The 3rd quarter numbers will not be out until mid Oct. But I suspect that both the stock and commodities markets are in for a fall this Fall. The net result should be a rush to treasuries (and perhaps oil) and a dollar rally. I don't expect good 1st quarter numbers either, and a high spot price of metals today are certainly not going to help jewelry sales this Dec.You bad_karma will be proven wrong again. The strongest indicator for a sustained metals rally is oil, still under $70. So until oil moves up above $100 a barrel, I doubt this seasonal metals rally is sustainable. In short bad_karma, if i want a history lesson I'll ask for it. Your predictions always have two things in common, they are based on hype and always wrong.
http://globaleconomicanalysis.blogspot.com/2009/09/so-whats-...
jeff3456098(nobrains)987
jeff3456098(nobrains)987 said
The 3rd quarter numbers will not be out until mid Oct. But I suspect that both the stock and commodities markets are in for a fall this Fall. The net result should be a rush to treasuries (and perhaps oil) and a dollar rally. I don't expect good 1st quarter numbers either, and a high spot price of metals today are certainly not going to help jewelry sales this Dec.You bad_karma will be proven wrong again. The strongest indicator for a sustained metals rally is oil, still under $70. So until oil moves up above $100 a barrel, I doubt this seasonal metals rally is sustainable. In short bad_karma, if i want a history lesson I'll ask for it. Your predictions always have two things in common, they are based on hype and always wrong.
well jeffry here is your chance to explain why you were wrong and I was right again... oil 80.00 per barrel.. gold sets all time hight today at around 1175.00..... give it up dude.. you don't have a clue.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
also oil corrected down to
also oil corrected down to 35.00 per barrel.. it has now gained 35.00 to the 70 mark.. so much for deflation.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
you love to put words in
you love to put words in peoples mouths.... I presented articles that talked about the things you are claiming I said.. now as far as predictions.. where did you say interest rates were going to be last fall/winter? where are they now? now go look at your gold set for a fall post.. gold was at 640 then.. where is it today?? now with this post.. the dollar was at .79/.80.... where is it right now? 76.40... so who is wrong and who's right... lmao. what you fail to see is 2 or 3 years into the future.
If I were you . I would go back and read everything Ted Butler has said about silver... the Chinese are now telling their people to buy.. that will put huge pressure on the supplies that exist which are about 1/6 of an ounce for every humanbeing on the planet.. only 1 ounce of gold for every
person on the face of the earth.. now lets revisit what China said about defaulting on the derivatives.. What they said is.. if the derivative was sold to them and full truth or disclosure about the derivative product was not told to them at the time it was sold, then they have the right to not make good on that derivative.. China is the largest or one of the largest shorts on silver.. they know what is coming.. now they are trying to wiggle out.. the shorts are going to be caught and those who listened and bought physical silver will be RICH.....stay tuned my uninformed friend.. stay tuned.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
Rresurrect This Post in 2 Months
This guy is probably right. I followed Jim Sinclairs advice last week and bought gold when it was 944 an oz. What an idiot I was.
I brought it back just for
I brought it back just for you Dude!
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
I certainly hope you are
I certainly hope you are being sarcastic given today's price action.
current spot price $980.60 and climbing.
Ta,
Blog: The Present in Plain Text
Listen to The Myo-Tonics on YouTube
More Proof I am a GoldBug Idiot
I also took Jim Sinclairs Advice and bought when gold was at 400 500 600 700 and 800 as well. You would think that I would learn by now.
lmao.... and prechter was
lmao.... and prechter was telling everyone it was going to 125.00....
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
So maybe it will go to $2,000 first and then go back down to
$125.
If the banks finally collapse and all checking and savings accounts get wiped out, what will people buy gold with. If someone wants to sell it to get federal reserve notes, then maybe it will only bring $125 since the supply of gold will then be large in to the then newly deflated money supply.
I am being facetious, but this is quite complex and we have all known for some time that eventually the inflation bubble would burst. All inflations eventually end in deflation, even the extreme ones like Weimar Germany. So we will see if this is the end of this long running inflation bubble, or just a setback on the way to yet one more expansion. Just when everyone thinks that we will have hyper inflation, maybe we will not; isn't the crowd usually wrong?
With the idiots in power, the outcome is uncertain.
"The deepest sin against the human mind is to believe things without evidence." Thomas H. Huxley
that is your fatal flaw...
that is your fatal flaw... GOLD becomes money again like it always has been except....... what you buy for 10000.00 now will cost a 1 ounce gold coin. why would anyone want frn?
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
The reason that people would want FRN's is that is what
is the medium of exchange now, and as long at it remains so, they will be in demand for that purpose.
How many places can you use gold or silver coins to make purchases?
And if you use gold or silver coins to trade to someone else for goods and services, the IRS says you have a taxable transaction measured by the difference between the value of the goods and services you receive, and what you originally paid for the coins.
So as long as the government sets the rules, the characteristic of gold or silver as money will be null and void.
And if you understand Gresham's law, bad money drives good money out of circulation, so people will hoard gold and silver and spend FRN's.
"The deepest sin against the human mind is to believe things without evidence." Thomas H. Huxley
Henry says.. And if you use
Henry says..
And if you use gold or silver coins to trade to someone else for goods and services, the IRS says you have a taxable transaction measured by the difference between the value of the goods and services you receive, and what you originally paid for the coins.
the Irs can't even keep up with what illegal cash transactions take place ..
how will they do it with coins?
So as long as the government sets the rules, the characteristic of gold or silver as money will be null and void.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
that medium of exchange can
that medium of exchange can change over night.. a frn is paper with a corrupt government promise.. have you been reading the headlines the last few days? China calling for new world currency etc? its only a matter of time.. I have a crisp reichsbanknote.. dated 19th of January 1922. serial number 2p.065168 ... what do you think this peice of paper buys me now? who accepts it? you said an frn is money.. well this german frn is money where can I take this 10,000.00 note and buy anything with it?.. when those people started "hoarding" gold and silver it was to late.. that german frn also did not buy them squat... what is the saying.. a day late and a dollar short? do you understand what I am trying to say?
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
If inflation always ends in
If inflation always ends in deflation, then does that mean we ought to be investing in some Zimbabwe currency?
...
Good for you!
It seems like every month or two we hear about some dire prediction or end of days scenario. It's nothing but fear mongering.
When we feed our faith, our fear starves to death!
********************
It is good and proper to respect the U.S. flag, perpetuated with the blood of American heroes. It is a fatal mistake not to recognize those who wrap themselves in the same flag to cover up their crimes against the American people.
~ Sherman H. Skolnick
. @ @ . Power to the People!
@ O @ -----> PEOPLE
. @ @ . NOT Corporate Entities!
oh the FEARMONGERING"....
oh the FEARMONGERING".... you do not even know what the word means.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
hello everyone...
i'm a silver fear monger.
( {; >{|) }
Interesting read by Antal Fekete on gold backwardation
and the implications for the dollar.
http://www.goldstandardinstitute.com/html/remobilize.html
"The deepest sin against the human mind is to believe things without evidence." Thomas H. Huxley
Other than his adherence to
Other than his adherence to the Real Bills Doctrine, Fekete is always an interesting read. The last time he saw sincere backwardation in Gold (Dec 2007) the price shot up $120 over the next six weeks.
Ta,
Blog: The Present in Plain Text
Listen to The Myo-Tonics on YouTube
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Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.
Why I take Mish with a beer. "Peter Schiff Was Wrong"
January 25, 2009
Peter Schiff Was Wrong
There are numerous YouTube videos, articles, and references to Peter Schiff being "right" rapidly circulating the globe. While Schiff was indeed correct about the US imploding, most of the praise heaped on Schiff is simply unwarranted, and I can prove it.
First, let's start with a look at the claim being made. Peter Schiff concludes many of his articles, books, etc. with the following statement.
Mr. Schiff is one of the few non-biased investment advisors (not committed solely to the short side of the market) to have correctly called the current bear market before it began and to have positioned his clients accordingly.
Highlight in red is mine.
I would like to see some proof of that statement. Specifically I would like to see the average returns posted by EuroPacific clients for 2008.
I have talked with many who claim they have invested with Schiff and are down anywhere from 40% to 70% in 2008. There are many other such claims on the internet. They are entirely believable for the simple reason Schiff's investment thesis was flat out wrong.
I have an actual portfolio statement from one of Schiff's clients at the end to discuss, for now let's discuss the main points of Schiff's thesis.
Schiff's Overall Thesis
* US Equity Markets Will Crash.
* US Dollar Will Go To Zero (Hyperinflation).
* Decoupling (The rest of the world would be immune to a US slowdown.
* Buy foreign equities and commodities and hold them with no exit strategy.
More:
http://globaleconomicanalysis.blogspot.com/2009/01/peter-sch...
And, when Mish is actually
And, when Mish is actually right about deflation I'll believe something he says. He might be one of the most obnoxious people sympathetic to this movement. To call Jim Sinclair a 'blogger' is really funny, or hubris, I'm not really sure.
I'll believe Sinclair over Shedlock every day of the week. Unlike Mish, Sinclair's actually made money trading/investing/running a clearinghouse and doesn't need to make money with his website. Mish is a blow-hard who's been at this game for a very short period of time. He regularly goes after the good people in this business to make a name for himself and bump up his ad revenues (ie. his attack on Peter Schiff).
I also think he fundamentally cannot tell the difference between the price of food and the price of a house and how those markets are not directly comparable vis a vis money flow.
Frankly, I just think he's an obnoxious jackass... but that's not really much of an argument.
Ta,
Blog: The Present in Plain Text
Listen to The Myo-Tonics on YouTube