Posted: Jul 27 2010 By: Jim Sinclair Post Edited: July 27, 2010 at 6:27 pm

Filed under: General Editorial

My Dear Friends,

I have said to you many times that the entities that will make the most profit on the gold price will not be the gold community, but rather just those that the community identifies as the enemy, the gold banks.

What is happening now is the setup to that event.

Recently Armstrong questioned publicly if the Goldmans of the world were using his cyclical analysis. Judging from what we have seen the answer is yes by intention or coincidence.

Those wishing to offset their pain on me today have to be defined as the public. The only bulls today are the stone professionals who can see what is taking place in the published numbers.

The gold banks are engineering their short cover and will shift to the long side of gold. It is in fact happening right now as the public panics. The currency market and media will be called into service in order to take gold to and through $1650.

Respectfully,
Jim