GOTS today!
Look at the Cyprus situation as a case study. Cyprus was effectively a financial experiment which provides you with a blueprint for what the system has in store for us all. The very first proposal in Cyprus was the nationalization of all retirement accounts.
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http://www.jsmineset.com/2013/06/23/in-the-news-today-1577/
Jim Sinclair’s Commentary
GOTS today!
Look at the Cyprus situation as a case study. Cyprus was effectively a financial experiment which provides you with a blueprint for what the system has in store for us all. The very first proposal in Cyprus was the nationalization of all retirement accounts.
In other news, the DRS process is simple and inexpensive. All that is required is that the shareholder find a broker willing to accept such instructions and pays the nominal fee. If your current broker does not want to do DRS you must find another, of which there are many.
To Frustrated Gold and Gold Share Holders:
I understand your frustration but there is simply only one thing to do at this time and that is to stand firm and ignore the MSM. This smash down in gold is a manufactured one and only serves to allow the East to purchase even more gold at bargain basement prices. This phase will pass soon enough and gold will resume its upward trajectory once again to challenge the all time high.
The Golden Mean:
The Golden Mean is used as a trading system by some traders. The ratios .382 and .618 are commonly used and you are correct that in approximate terms we are around about a 38.2% from the paper gold 1920 high.
Stand Strong And Firm In Your Physical Gold And Gold Share Positions:
There is no doubt this is a war and you will not win by giving your positions away at this time. Of course, the decision is yours to make but what we are seeing now is an attempt to separate people from their gold before the market resumes its bull run. If the average investor sells now they will never psychologically be able to buy back in. Now is the time to bunker down and not listen to the news and remember why you bought gold in the first place. It is an insurance policy against the economic madness that is gripping the world.
Selling Gold and Gold Shares:
The only point I would add is that those who are contemplating exiting their physical bullion positions or gold shares need to ask themselves why they bought them in the first place. The only reason the average person should be buying gold, whether it be the metal or shares, is for the purposes of insurance against the economic and currency related crises we are now facing. That being the case, now is the worst time to be abandoning positions.
Present Time Commentary
I have stated my view on gold and that it will challenge and take out the all time highs and move towards $3500.
I have consistently said that in order to protect your wealth an investment in gold is prudent but that you should look upon your gold ( whether it be physical and/or quality gold shares) as insurance against pitiful and economic uncertainty and the endless money printing by Central Banks. To that end I have stated that you should seek to store physical gold in allocated form in a place such as Singapore.
If you were to buy gold stocks ensure that they only be those with mineable ounces, low costs, cash in the bank, multiple 43-101s and have forward looking management. If you do buy shares then once they are purchased you should see that they are directly registered in your name with the company’s transfer agent. Once that is done you can also have paper certificates issued in your name.
If you have money in bank limit the deposit at $5000 to meet your day to day obligations and relocate excess liquidity to a bank in Singapore, Hong Kong or Taiwan to avoid the implications of the bail in. You will have to travel to those countries to open an account as it can only be done personally.
QE:
My advice is that there is no practical prospect whatsoever that QE will end as to do so we would see the stock market drop by 2000 points in two days. Your assessment is correct and in order to maintain your peace of mind regard the MSM as just noise. This manipulation is a ruse to try and separate people from their gold and gold stocks. We must stand firm and bunker down to survive this crisis.
Jim Sinclair’s Commentary
Having trouble in Canada getting direct registration of qualified shares? You should consider changing your broker. I suggest you contact Sprott Global Resource Investments Ltd and ask to speak to Mishka vom Dorp. Their website is http://sprottglobal.com.
http://www.jsmineset.com/2013/06/23/in-the-news-today-1577/
Jim Sinclair’s Commentary
GOTS today!
Look at the Cyprus situation as a case study. Cyprus was effectively a financial experiment which provides you with a blueprint for what the system has in store for us all. The very first proposal in Cyprus was the nationalization of all retirement accounts.
In other news, the DRS process is simple and inexpensive. All that is required is that the shareholder find a broker willing to accept such instructions and pays the nominal fee. If your current broker does not want to do DRS you must find another, of which there are many.
To Frustrated Gold and Gold Share Holders:
I understand your frustration but there is simply only one thing to do at this time and that is to stand firm and ignore the MSM. This smash down in gold is a manufactured one and only serves to allow the East to purchase even more gold at bargain basement prices. This phase will pass soon enough and gold will resume its upward trajectory once again to challenge the all time high.
The Golden Mean:
The Golden Mean is used as a trading system by some traders. The ratios .382 and .618 are commonly used and you are correct that in approximate terms we are around about a 38.2% from the paper gold 1920 high.
Stand Strong And Firm In Your Physical Gold And Gold Share Positions:
There is no doubt this is a war and you will not win by giving your positions away at this time. Of course, the decision is yours to make but what we are seeing now is an attempt to separate people from their gold before the market resumes its bull run. If the average investor sells now they will never psychologically be able to buy back in. Now is the time to bunker down and not listen to the news and remember why you bought gold in the first place. It is an insurance policy against the economic madness that is gripping the world.
Selling Gold and Gold Shares:
The only point I would add is that those who are contemplating exiting their physical bullion positions or gold shares need to ask themselves why they bought them in the first place. The only reason the average person should be buying gold, whether it be the metal or shares, is for the purposes of insurance against the economic and currency related crises we are now facing. That being the case, now is the worst time to be abandoning positions.
Present Time Commentary
I have stated my view on gold and that it will challenge and take out the all time highs and move towards $3500.
I have consistently said that in order to protect your wealth an investment in gold is prudent but that you should look upon your gold ( whether it be physical and/or quality gold shares) as insurance against pitiful and economic uncertainty and the endless money printing by Central Banks. To that end I have stated that you should seek to store physical gold in allocated form in a place such as Singapore.
If you were to buy gold stocks ensure that they only be those with mineable ounces, low costs, cash in the bank, multiple 43-101s and have forward looking management. If you do buy shares then once they are purchased you should see that they are directly registered in your name with the company’s transfer agent. Once that is done you can also have paper certificates issued in your name.
If you have money in bank limit the deposit at $5000 to meet your day to day obligations and relocate excess liquidity to a bank in Singapore, Hong Kong or Taiwan to avoid the implications of the bail in. You will have to travel to those countries to open an account as it can only be done personally.
QE:
My advice is that there is no practical prospect whatsoever that QE will end as to do so we would see the stock market drop by 2000 points in two days. Your assessment is correct and in order to maintain your peace of mind regard the MSM as just noise. This manipulation is a ruse to try and separate people from their gold and gold stocks. We must stand firm and bunker down to survive this crisis.
Jim Sinclair’s Commentary
Having trouble in Canada getting direct registration of qualified shares? You should consider changing your broker. I suggest you contact Sprott Global Resource Investments Ltd and ask to speak to Mishka vom Dorp. Their website is http://sprottglobal.com.