From Jim Sinclair

Dear CIGAs,
During reactions in gold, the degree of gold and gold share holders pessimism is EPIC and without cause.
Why Gold?
1. Gold is a currency.
2. Gold is competitive to paper currency.
3. Gold is not a commodity
4. Gold is a barometer of fear.
5. Gold is a barometer of confidence in government.
6. Gold is insurance.
7. Gold is insurance against government gone mad.
8. Insurance is not something you trade.
9. Gold is the financial high ground when global debt problems exist.
10. Gold in your hand eliminates all counter party risk.
11. Every single currency is paper backed by nothing.
Stay the course. Nothing is solved, nor will it be.
Gold will be violent. Gold is nowhere near fully priced.
Regards,
Jim