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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: wsw1 who wrote (24660)	11/8/2006 11:17:43 AM
From: wsw1	of 78417

re: continued spending on iraq: sinclair has the following comments today: Dear CIGAs, Markets hate change and generally when that change is political they tend to greet it with fear of whatever has been the recent short term trend. You can see that clearly today. The key discussion is what will a shift in legislative mean to spending. The concept you need to focus on is if there is a change in spending it will re-channeled only, not reduced. That is a simple rule of political life. There is no elegant way out of Iraq and Iran [he meant afghanistan]. Should spending be cut on the military action you can be sure chaos will arise where Western interests are concerned. The final cost of that in terms of oil is tremendous. All this favors gold. My view that gold will go to $1650 is unchanged other than the fact that estimate may possibly be too conservative.

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