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Interview With Jim Sinclair

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Jim Sinclair being interviewed on the Summit Business News Channel

http://www.summit.co.za/video/face2face/20090710

(taken from Jim Sinclair's blog, http://jsmineset.com/)

Jim Sinclair says:

  • He offered a $1,000,000 wager that gold will rise to $1,650 by Jan 14 2011
  • Gold's price is inveresly related to the value of the dollar
  • Serious inflation (hence a rise in gold prices) will be caused by a 'currency event' between Jan 2011 to June 2011
  • Between 4th to 7th November 2009, there will probably be a confidence crisis in the dollar (why so specfic??)
  • Gold is a currency, not a commodity, hence gold mines will be able to print money. Historically, gold has been a 'superb' currency.
  • People will turn to gold when the politicians 'screw up'
  • Cautious about forecasting beyond 2012 but does not expect gold to fall back again

Preferences for holding gold:

1st physical possession

2nd mining company with significant finance and other resources to operate reliably

3rd South African ETF (better than London or New York ETFs according to Jim)

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