Jim Sinclair's gold angels

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#1 Sun, Aug 28, 2011 - 8:13pm
unknownrider
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Jim Sinclair's gold angels

Hi folks-

I'm new to this site and also to the whole big picture you all seem to have about what's going on in the economy and more importantly in the PMs. I've hunted and pecked around the web and found, among other things Damon Vrabels' rennaisance 2.0, Chris Martensons' crash course, this site of course, and a whole bunch of others very useful stuff. I keep reading references to Jim Sinclairs' angels. Can anyone tell me a good place to get a laymans' grip on what exactly the angels are? I assume they are resistance and support levels for gold, but can't find the info in one place or on Mineset website either.

Also, I have a couple of basic questions about buying physical gold right now. I've read the predictions about 12,000-60,000 gold but, if that happens, how the heck does one know when to sell? Will there be a huge government imposed, capital gains tax on gold if it gets to that level, or will gold eventually correct way back down after the dollar is 'restructured' or a new global currency is established? Just can't get my mind around these concepts, and as with anyone that does not own an asset that is going up by leaps and bounds ( real estate and .com bubble ), I don't want to get in near the top. Guess my real question here is : what convinced all of you to go into gold and stay in?

Sorry to ramble on so much, but I have a lot of powder and would like to get on this ride.

Thanks

Edited by: unknownrider on Nov 8, 2014 - 5:31am
Sun, Aug 28, 2011 - 8:27pm
Brotha Bob
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FX debasement

What convinced me? Currency debasement. You can not print money without it's buying power being deminished. That's is what the world is doing. Everywhere, every country is debasing their currency. Commodity prices are not going up. The value of currency is going down. This will conti ue as long as every country wants to export. Next look at national debate in the US and Europe. There is a crisis. Then look at the money center banks holding all this bad national debt. Here is also a crisis brewing. Gold and silver are money. Both have been for thousands of years. And, will be again. Soon, very soon. Hard money, gold/silver, is the way the world is headed. It is the only safe place to be. Start measuring everything in terms of gold and silver. The rest of the world is going to be.

May God Help Us All But, what do I know?
Sun, Aug 28, 2011 - 10:12pm
valleygirl
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Hi, unknownrider. The

Hi, unknownrider. The "angels" are Sinclair's term for the gold prices he's been forecasting for a number of years now. You can see the numbers he's talking about in the image at this link (and he often re-posts it):

https://www.jsmineset.com/2011/08/10/jims-mailbox-760/

You'll also see that we've been hitting a lot of these angel levels in recent weeks!

By the way, I found this link and a bunch of others just by searching "angels" on the JSMineset site...

Sun, Aug 28, 2011 - 10:27pm
Babstar
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We already have a thread

We already have a thread running: Jim Sinclair's Gold Angels 

Sun, Aug 28, 2011 - 10:47pm
Gil
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unknownrider wrote: ...how

unknownrider wrote:

...how the heck does one know when to sell?

Check in at jsmineset.com as often as you can and spend time reading archived posts. After the previous record high gold price that he called back in the 1970s was realized and he saw Paul Volcker take over as Chairman of the Fed, Jim Sinclair recognized that the bull market in gold was all but over. I believe that he sold most if not all of his gold and went heavily into US Treasuries. The current version will be different, but Sinclair has said that he intends be around to guide us through the tough stretch ahead. We will know if and when there will be a time to sell. He also likes to talk about all of us being our own central banks by owning physical gold, so maybe we don't sell. Other respected gold people say that the current bull market in gold will be over when we see the reincarnation of Paul Volcker at the Fed, but what are the chances of that? I believe that we have a long way to go in this gold bull market and that, in the end, we may end up being our own central banks.

Mon, Aug 29, 2011 - 6:13am (Reply to #5)
Babstar
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Jim Sinclair interview

 Jim Sinclair interview 8 March 2010 

Quote:
[05:33]

EK: Jim as I still recall, you were able to call that top to the day. when everybody was panicking, how did you do that?

JS Knew it ahead of time I used a formula then dealing with the fact that gold's purpose is to balance the international balance sheet of the country holding it. Purpose of gold then was because the dollar was the major reserve currency, was to balance the balance sheet, the external balance sheet of the United States. And it was a simple computation, in order to do that in 1974 and taking some assumptions, I had an ad in Barron's which said gold $900. You know, I tend to be consistent in my beliefs. I don't waffle back and forth, so when gold approached $900, and silver was 52-54 it was fully priced.

EK: Wait, let me get this straight, in 1974 you ran an ad in Barron's calling for gold at $900?

JS: I did Sir. Yes, I've been saying gold $1650 since $248 in 2000 2001, its my nature.

There is another interview where he talks about selling the day after the peak, I will trawl through the podcasts, to find the appropriate quote

Mon, Aug 29, 2011 - 8:17am (Reply to #6)
unknownrider
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Many thanks

Thanks all for the replies. I went back and looked at the previous thread on the angels. Very helpful. 

Fri, Sep 2, 2011 - 8:35am
Animal Sacrifice
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When to Sell?

Probably everyone has their own plan. I don't expect Mad Max so I'm not interested in trading my gold for farmland (I'm 55yo and a city boy and have not interest in milking cows and bailing hay.)

I plan to sell my gold and buy the DOW when the Au : DOW ratio hits 1 : 1 FWIW

HTH IMO YMMV

Ogún fun o mi opolopo owo

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