Jim Sinclair - Paper Markets To Disappear As Gold War Rages

Just to give you a background on Jim Sinclair, he declared gold would be $1650 when it was under $300 ten years ago.  Think about that for a minute, and how outlandish that sounds to an untrained eye.  Lo and behold, he was right, as gold went beyond his price target all the way up to $1923 in 2011.

If you choose to dismiss it, realize that if you had $1000 of gold back then, you'd have $6000 today.  Or $1 million then would be worth $6 million today.  In other words, the appreciation scales up, and if anybody had followed his advice, they'd be in a much better place today.  Sinclair's call was not insignificant.  He talks the talk, and walks the walk.

Sinclair is now saying the next upside target is $3500 and higher, which is equally hyperbolic, right?  Not really.  A move from $280 to $1650 is huge, a six-fold rise.  Getting to $3500 from here is merely a double.  And the Fed is printing many more trillions today than they did back in 2002.  That price target, as crazy as it sounds initially, is not far-fetched at all when looking through the prism of the trillions in currency units the world's central banks are creating.  In a currency war, the race to debase is extremely constructive for the price of gold. 

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