Posted: Mar 10 2010 By: Jim Sinclair Post Edited: March 11, 2010 at 11:40 am

Filed under: In The News

Thoughts For The Day

1. A curtailment of bank trading department’s activities will not impair the price of gold as the gold banks are not on the long side.

You can forget that foolish rumor. It is more likely if any bank regulation is passed that it will require short covering.

2. The propaganda that China will not buy IMF gold is back.

China already said the contrary but who listens to China when Reuters quotes some unknown as saying the opposite.

Jim Sinclair’s Commentary

This has been an interesting day. The gold websites that publish every kind of opinion are working feverishly to produce bearish material. The run of the mill money manager is yelling deflation as they come to realize a Jobless Recovery is a world class oxymoron.

Few understand that hyperinflation is a currency event, not an economic event.

After China decidedly and without any doubt said along with India that they will bid for IMF gold, Reuters published an article to the contrary so the sheeple went contrary.

When I read the articles of the new gold experts I want to yak. Gold is going to $1650 and quite possibly $5000. Asia will take it there without your help and over the dead bodies of shorts.

In between it is all noise and fury signifying nothing whatsoever.