...margin requirements and use the futures market to knock the paper price down. This simply creates a buying opportunity for the Chinese (among other big players) to buy the metal. This game is coming to an end. The good news...we're so F'd in KRY that we dropped less than most. A bloodbath out there in the miners. Stupid pricks.
CHINA....show us the money. We KNOW you want Las Cristinas. Pay the bastards off!
Posted: May 05 2011 By: Jim Sinclair Post Edited: May 5, 2011 at 2:22 pm
Filed under: General Editorial
Dear CIGAs,
Simply stated, the drop at this time will in retrospect be seen as the foundation for gold trading not at $1650 but rather at $5000.
Armstrong was right and wrong. He looked for a reaction in gold at a time it would not happen, to a price that simply did not and will not occur.
He is absolutely right that as June approaches this type of action is the foundational proof of a major move in gold coming out of June and continuing with the normal drama into 2015.
Relax!
