Jim Sinclair Has Something to Say
May 5, 2012
1:00pm CST
Here is a great interview with Jim Sinclair. He is known as “Mr. Gold” for calling the top of $900 in 1974 and also calling the top in January 1980. Most recently he said in 2001 that gold would hit $1650 by January 2011. Gold didn’t hit $1650 until August 2011 but who is quibbling over a few months? In the interview he discusses why further QE (debt monetization) is inevitable on a massive scale, the Federal Reserve, the $700 TRILLION derivative market, the SWIFT system, ISDA, QE III already happened with the Euro currency swap in December 2011, etc. He says that in the second half of 2012 he expects gold to trade between $1700 and $2100. He also mentions on the last page of the article that he believes $12,400/oz is the proper target for gold based on his math. He says that the government won’t allow it to get to that level but I believe it is safe to say that he believes that gold will be much higher than $1650 by the time this is over.
