Gold Headed to $1,224
Source: MineSet, Jim Sinclair (7/6/09)
"The U.S. dollar is going to have a very cold and uncomfortable winter."
Hyperinflation has always occurred in the condition of the most vile economic activity. MOPE (Management of Perspective Economics) via its tool SPIN cannot and will not prevent what is 123 days away.
Anticipate MOPE to reach spiritual levels as the G8 plus 5 shovels out garbage to camouflage the discussions with the Plus 5 on dollar diversification via SSCI (Super Sovereign Currency Index) as a reserve currency unit.
This morning China is referred to by financial TV MOPE as not knowing what it wants. That is outrageous BS. China knows EXACTLY what they want and have defined it in a manner that is without question a Super Sovereign Reserve Currency package as part of available central bank reserves. There is no ambiguity at all concerning all the BRIC nation's positions.
I will sum up the situation as 123 days to go.
I wager some of you have or will throw away your only insurance during this period at higher gold prices, trading later only to go into gold sticker shock.
Gold is headed to $1,224 on its way to $1,650 and Alf's numbers.
The U.S. dollar is going to have a very cold and uncomfortable winter.