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XMFSinchiruna (27.51)

Video - Jim Sinclair on CNN: pay down debt, consolidate, THEN buy gold. Reduce debt and risk!

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April 14, 2008 – Comments (5) | RELATED TICKERS: CEF , GLD , SLV

 Jim Sinclair, a legendary commodities trader for more than 30 years, CEO of Tanzanian Royalty Corp, founder of the free website JSMineset.com, and the agent who helped to liquidate the Hunt family's market-cornering silver position back in the 70s.

This guy knows his stuff like no one else.  For a no-holds-barred look at one experts opinion on the financial crisis at hand... take a good long look through the archives at his sight.  Very interesting.

I've been reading his commentary daily for several years now, and he's been right every single step of the way.

Perhaps you've heard he has wagered $1,000,000, putting his money where his mouth is.  The wager is that gold will hit $1,650 by 2011.  Anyone convinced it will not can take up the bet.  :)

 As he concedes, his projections might actually be far too conservative, but he prefers to under-state than over-shoot.  He is also calling for the US dollar index to hit 52 or lower.

5 Comments – Post Your Own

#1) On April 15, 2008 at 12:38 AM, motleyanimal (84.70) wrote:

Woo Hoo!

This guy is one serious bear.

Cramer has been calling for $1600 gold, but not so much lately.

I have GGN, a nice closed end commodity fund and recently CDE on the lower price.

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#2) On April 15, 2008 at 6:58 AM, XMFSinchiruna (27.51) wrote:

Nice job on the CDE entry price!!  I started buying near $5, and though I remain completely long on this undervalued equity, I envy your entry point.  :)

Here's my Foolish article on CDE

I'm not familiar with GGN, but I would predict any diversified commodities fund to outperform the S&P for some time to come.  Enjoy your gains!  :)

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#3) On July 08, 2010 at 2:11 PM, thomas1212 (< 20) wrote:

In Debt

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#4) On August 08, 2010 at 3:56 PM, thomas1212 (< 20) wrote:

 This is a wonderful opinion. The things mentioned are great and
needs to be appreciated by everyone.

Best Mortgage Deals

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#5) On November 08, 2010 at 5:10 PM, mikejason (< 20) wrote:

Gold

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