Gold/Silver: Saw this earlier. Reposted. Could not find original.

Letter by Jim Sinclair. Better to take heed than blow it off. He has not been wrong too many times. I would not want to be the one that read this and later had to tell someone I was begging from, that I didn't think it was worth listening to at the time.

Look at the markets today again. 3rd or 4th day now? Even with the bailout(s)?

You cannot lose by taking heed. What are you worried about? Interest on your money? This man has a lifetime reputation. Do you think he would risk blowing that reputation if he wasn't pretty f'n confident?
It will never hurt to have cash when it cannot be gotten, and hold it to the bottom, should there be a bottom, until it is cheaper to heat your home with the cash itself than kerosene or firewood.
May never happen, then again, do you want to be the one to know first hand? I won't take that risk. I am heeding this. What do I have to lose? 2% interest a month? If that?

Dear Friends,

Please understand that the Fed reacts to circumstances rather than acting before potential problems happen.

If the Fed hadn't taken the rather strange action they took today by becoming OTC derivative dealers themselves this would have been the day the USA banking system imploded.

Watch Libor rates to signal the point of detonation.

Circumstances appear as if there were many problem Angels dancing on top of a pin that is being balanced on the nose of just those people who created the problem in the first place.

An implosion of the banking system is coming, which means a bank holiday will occur.

You now must have enough cash in hand to last a month or two.

If you have not distanced yourself from financial agents then you have a financial death wish.

If you have NOT made absolutely sure that your custodian account is a real custodial- ship you are probably in for a surprise.

I took a call yesterday from a mature lady who told me she feels her money market fund that is only in Treasuries will not pay her out. They did tell her they intend to in seven days. I asked her to call me back in eight days. How does she know that this money market fund is not in OTC derivatives based on the movement of Treasuries?

I do not want you to make that call to me.

If you can retire from your retirement program at some reasonable discount do it NOW.

This is it and it is NOW. Gold is going to $1200 and $1650. The US dollar rally has NO fundamental legs.

Why are so many of you sitting there like a deer caught in the headlights? Protect yourself and do it TODAY!

Respectfully,
Jim