Bugulation Alert!!! Calling all goldbugs to arms! See email below from General Sinclair. Buy gold ammo until it hurts. Don't lose the faith!!!
NC ;o)
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Re: Chairman's Corner - Tuesday, March 13, 2007
Title: A Day of Unfounded Fear
Author: Jim Sinclair
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Dear Friends,
Flight to quality certainly does not mean a flight to paper currency. Such a concept is total madness made up of the non-experienced, perma-bull dreamers and dollar worshipers as an act of patriotism.
Other than some activity in the USDX in the last few minutes of US trading, the Exchange Stabilization Fund (ESF), which understands very well what is occurring, is holding its powder to defend the dollar at .8050 very soon.
So even after all my lessons, background history, teaching and construction of formulas, theses, doctrines and illustrations, it is now time for me to fish or cut bait.
My choice is to regain the courage of my youth and do what demands to be done. This may well not be for you nonprofessionals but it certainly is for me.
The extremely positive fundamental character of gold in the first flame of a market meltdown is too hard for me to ignore.
The Fed will do whatever is necessary to save the system from the first flame of a meltdown. HOWEVER, WHAT THE FED MUST DO IS SUPER BULLISH FOR GOLD BUT DOLLAR BEARISH.
I have been buying real and paper gold on downturns and selling on strength with reasonably good fortune. Now for me comes the time to take that good fortune and increase it by buying physical and paper gold on a scale down basis as long as the newbies wish to pound on it.
I did not say gold shares simply and only because I DO NOT wish to create regulatory conflict between my corporate position and my now 49 years of trading success.
A flight to safety should not be to the unsafe paper asset class, the plummeting dollar, or dollar denominated treasury instruments which are the same as dollar risk but to GOLD, the only honest money.
I believe in me - you have no such obligation. Wish me luck!
Sincerely yours,
Jim
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Message sent on Tue Mar 13, 2007 at 2:22:24 PM Pacific Time |
