On Aug. 26, the man considered by many to be the world's leading gold and silver analyst going back to the 1970's was a guest on the USA Watchdog program. During his 30 minute interview, Jim Sinclair stated that the Monday stock market crash was the beginning of a new global paradigm shift in finance that would soon bring about The Global Reset, and with it, gold will rally to such heights that it will no longer be a value in relation to currencies, but it will stand above it.
Greg Hunter: Ok, I want to get to gold and silver, because you said in our last interview a year ago that gold would be (one day) $50,000 per ounce. And Bill Holter came and doubled down and said that would be ridiculously low. Give us your synopsis of gold... is this the bottom, and is the bottom in, and do you have sources that tell you that, or does your analysis tell you that... or is it both?
Jim Sinclair: Well, nobody can trade gold (today) based on any technical analysis. There is no reliable system in the marketplace at the present time. If you want to know what gold is going to do, you better have an open line to what we might call 'the insiders'. Because the price is made according to the flavor of the day.
I don't claim that I called the top in the March of 1980 (although others do make this claim for him) because of any kind of a system. Greg I was told. And I acted on what I was told.
Greg Hunter: And you believed them?
Jim Sinclair: I believed them.
Greg Hunter: That was a huge call... not many people were told that. But give yourself some credit, because six years earlier you said it would go to $900, and it did go up.
Jim Sinclair: I've had some ability to forecast some prices. And I can tell you what I've been told, why don't we go with that?
Number 1: The downside on gold is extraordinarily limited. Two: The rally that will come in gold is going to be stupendous. And the one thing I find very interesting is... Three: We may never call you back! Because this may be the rally you don't sell. - USA Watchdog
Here is the entire video with Greg Hunter and Jim Sinclair
Jim Sinclair also went on to say that Black Monday was the beginning of the end for the stock market highs since it provided two key dictates not seen since 2011. First, the PPT attempted to stem the flow of sell orders but failed every time, and was forced to simply let it collapse into the close. This proved to everyone that both the Fed and the government are not infallible, and that with enough pressure no intervention can stop a market crash. And secondly, when you look at the historic move on the VIX, confidence was shaken to unseen levels and this will lead any new market declines to exacerbate confidence and by the end of September, or no later than this winter, the collapse will be in full and complete motion.
As we are seeing over in China as well, no currency or economy is safe to try to store your wealth from what is coming worldwide. The only solution is in gold, silver, cash and having these outside the banking system, and for the common person who cannot afford gold priced in ounces right now, or especially in the future, there is only one place to go.
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The global financial system, along with dozens of respected economists, are telling us that now is the time for the end of our current form of money, and the beginning of the transition into a new monetary system that is expected to be backed by gold. And with banks, governments, and even Harvard professors mandating that central banks have no choice but to eliminate cash from usage by the people to stave off collapse, will you wait until it is too late to make a decision on how you will protect your wealth, and be able to function within the coming new monetary system?
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