With gold breaking below $1200 , legendary gold trader Jim Sinclair has sent an email alert to subscribers advising PM investors that knowing the system is in collapse, he intends to buy gold with “every asset at my disposal today and tomorrow, and I suggest the stout of heart do the same“.
From Jim Sinclair:
The economic system is failing, and to counter the now publicly perceived failure, central planners are manipulating the symptoms and not the problem.
Gold has never been easy.
Gold is the tell tale of a broken system.
Gold therefore is the barometer of the risk factors of economic conditions.
Therefore central planners must make, via paper gold, every effort to make it say, “All is Ok.” For this reason I intend, knowing the system is in collapse, to buy gold with every resource I have at my disposal today and tomorrow.
I suggest those of stout heart do the same.
To the others who are committed to their limit, hunker down one more time knowing that in no more than the summer a brand new and most powerful bull market in gold will be at hand.
Respectfully,
Jim
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