Where is Gold heading: Jim Sinclair states 50,000 per ounce

Where is Gold heading: Jim Sinclair states 50,000 per ounce

[color-box color=”red”]Jim Sinclair’s target is insane, to put it mildly; we would like to know how he arrives at this calculation. If you Google his name, you will find out that he posts stuff on Gary North’s site. Google Gary North and you will out that he is the idiot that scared thousands and thousands of people to think the world would end due to the Y2K bug in 2000.   [/color-box]

Gary North scared so many people into buying supplies that they would need because according to him the world would go dark in 2000. 2000 came, and it was a non-event, but many common folks who bought this nonsense lost small fortunes. At the very least Gary North should have been fined, but instead, he is alive and thriving and probably pushing another product.  We find the technique Sinclair uses to be distasteful in that he uses scare tactics to bait the uninformed. If he was so sure Gold was going to go to 50,000, then why does he not sell everything he owns and dump it into Gold.

Gold has not even hit $2,000, so Jim is truly in a league of his own when he comes out with this insane target of $50,000.  So what gives?

[color-box color=”green”]

    • He is looking at his crystal ball and getting the wrong message. Maybe the net connection to the other world is not up to standard.
    • He is trying to sell you something by trying to scare you
      He claims to be a gold expert, but he is more like a snake oil salesman, as it is unbecoming to issue such a target when Gold has not even made it to $2000.
    • Finally what century is he talking about, 200 years from now or 300 years from now? Even if he is right who would care as one would be long gone by then?[/color-box]

For the record, he made the same predictions in 2013, 2014, 2015, and will probably do so in 2016. He is a broken record chanting the same monotonous hymn over and over; eventually, he will be right but by then you could de dead and gone.

Other articles of interest:

India will never Dethrone China: Jim Rogers agrees, exits India (Feb 16)

Gold breakout real or another false start (Feb 15)

Next American Disaster is Student Debt  (Feb 12)

Central bankers embrace Negative interest rate wars (Feb 10)

Gluttonous colleges fueling higher education bubble (Feb 8)