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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk -- Ignore unavailable to you. Want to Upgrade?

To: Kirk © who wrote (57047)	6/26/2010 2:18:51 PM
From: Winfastorlose	1 Recommendation Read Replies (2) \| Respond to of 206760

The reality is that Sinclair has no advisory service to track. He has no "hot line" which could have provided "poor results" to Hulbert. His website has free access and is more or less a news blog with attached comments from he and a few others. ahahaha just made all of that stuff up. The only thing Jim has ever done is to allow people to email him or to call him on the phone if they are feeling nervous about owning physical gold as he attempted to "hold their hand" through 2011 (which has always been the year he has expected gold to hit 1650 per ounce). So far, he seems to be right on target for this event to occur. Gold would only need to approximately average its previous returns for the past 10 years to hit his number. For several years, as a way of "putting his money where his mouth is", and promoting the gold story, Sinclair offered to put up one million dollars in an escrow account to be used as a bet with anyone willing to do the same as a counterparty. The bet would be over whether or not Gold would hit 1650 in 2011. No one ever put up the hard cash to take him up on his offer--not even after the sell-off in gold in late 2008. After 2011? He says maybe and most probably higher. (as does Wolanchuk, Martin Armstrong, Alf Fields and many others who have followed the gold story) According to Sinclair, It all depends on whether or not the world adopts a new reserve currency concept (which is currently under discussion) I know that only yesterday, I read a story that said some in Europe are considering backing a change in the way the Euro is denominated (into a two tiered system which would include gold as one of the backing elements of the new "currency basket system"). This is highly interesting since Sinclair has always maintained something like this would happen across the world so that gold would become a more active part of the equation again. Not that we would go back to a "GOLD STANDARD", but to a concept in which gold is just one of the items used in the basket in order to provide stability to any given currency.