Jim Sinclair quote on the price of gold

My Dear Friends,
Gold will now rise to $1650 then react after which it will challenge and exceed the old high.

If paper gold survives this move for physical gold’s emancipation from fraudulent paper as the price determinant, gold will still trade at $3200 to $3500 per ounce.

If, as I believe, the new Russian and Singapore physical gold exchanges plus more physical gold exchanges that will open become the price discovery mechanism for gold, then gold will trade at $50,000 per ounce.

Respectfully yours,
Jim Sinclair