Jim Sinclair: Today’s Massive Attempt To Break Gold
Gold Silver Worlds: Although we avoid to simply copy texts from others (as no added value), this message we just received a minute ago via email from Jim Sinclair (Mr. Gold) is important enough to republish as-is. The main message is short but powerful, and the focus should be on his last sentence.
This is a massive attempt to break gold in order to camouflage the weakening Western banking sector. Paid bashers are flooding in to all pro-gold sites and many other pro-gold sites are under attack in other ways.
Gold banks are flogging the paper market seeking to depress the price but without selling too much.
It is so obvious that this is a gold bank organized strategy to keep gold under $1600. Old lows will hold and the reversal will be at a spiritual level.
My strategy is to simply to do nothing.
Meantime the gold price is indeed spiraling down. The following two charts show the dollar gold and euro gold price in the last three days (including today).
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