That sucked John :( As for Sinclair, I probably shouldn't offer any opinion on him as it's extremely biased by my dislike for AX. The only things of his i've ever see are what AX has posted.
Whats up Peter, How ya been?????
Pushing 920 here boyz!!!!!!!
4 comments:
Well, to Sinclair's credit, he published his 4 angels way long time ago as 'resting points' for gold. So far, he's nailed all but #4 which is $1650. He even admits he may have been a bit conservative with regards to that number.
He also has given the average J6P a heads up as to what to do with paper investments such as stocks. Today's investment houses are exposed to derivatives just as the banks are.
For example - this from Monty Guild echoing Sinclair:
Reminder - Have you checked the safety of your custodian? Have you carefully read the language of your custodian's agreement which governs the disposition of your assets in the case if serious financial problems in the world economy, or with the custodian itself?
In our opinion, all investors and recipients of pension plans or holders of IRAs should check the financial stability of the custodians of the assets that they own. Equally important is the legal wording of your relationship with your custodian. Have your attorney look over the wording and make sure the custodian is segregating your assets and will audit them annually to make sure they are segregated from other clients and from the assets of the firm itself.
We have spent money on attorneys who review the legal language in our custodial agreements, as we believe that it is essential knowledge. We are money managers, not attorneys. Please have an attorney look over the legal language of your relationship with your custodian. What you find may surprise you.
Sinclair:
An Alternative to Paper Certificates:
Instruct your broker that you wish to become a book entry on the books of the transfer agent. That is not your certificate in your tight personal grip, but it will protect you against the financial agent present in the loop.
It would be nice if your transfer agent was standalone, as just those we wish to avoid own some transfer agents.
It is not a perfect answer but it is a PRACTICAL answer when you wish certificate delivery but there are impediments.
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So, you can see that most folks have no clue about the above. It used to be you would purchase a company share and RECEIVE the share certificate.
"Certified" means something - it means that you actually own it. It exists. What I've learned is that when you sign the broker agreement you are signing power of atty for the Broker to act in your behalf. Well, this also gives them power over your investment portfolio in other ways as defined above.
I'm not a doom and gloomer, but when you consider what is going on with the FED BSC JPM etc. and what the potential is for another bank holiday ala 1929, I prefer to err on the side of "never, say never!" It's happened before and there's absolutely nothing that says it won't happen again.
Then you have folks writing in to Sinclair explaining how difficult it is becoming to 'receive' paper certificates from their broker. The Brokers are telling them excuses as to why it's going to take a month or more, or that it will cost a lot of money to get them etc.
Slap me silly and call me Willie, but my mom didn't raise no fool. Something is afoot and the smart money is already out of the market and have positioned themselves and their assets for safety. I just want to be on that side...
Sinclair is the only one that actually understands the 'other' side and has no problem educating those who will hear the message.
Ax is merely a puppet with regards to Sinclair, I don't follow those that copy. I seek out the master instead. JMO....
Sinclair is a huckster for MONEX. MONEX pushes margined accounts VERY hard. MONEX highly encourages storage of your metal in their care. I believe that is know as a pool account.
I personally have no problem with MONEX or their products and services. I DO question Sinclair pimping for a company that engages in practices that he is allegedly devoutly against. It causes me to question his motives and "loyalties".
Any one of us here can equal Sinclair in predicting new highs for gold.
Cube "Any one of us here can equal Sinclair in predicting new highs for gold."
I agree, but who among us did so back in 2000? He was the only one and the reason I'm where I am today.
As for MONEX, you could write Sinclair and ask him why the double standard? I'm sure he'd reply.
I was predicting it way before 2000. I've been in the business for 30 years. I was refining in the bull market of 79/80. I've no need to write to Sinclair. Double standards are known as "hypocrisy".
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