Sean K
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Interesting question, but certainly depends on time frame. Short term down, medium term sideways, and long term up. Perhaps.
Interesting question, but certainly depends on time frame. Short term down, medium term sideways, and long term up. Perhaps.Are we still moving sideways ASXG?
Posted On: Thursday, January 17, 2008, 5:45:00 PM EST
The Panic Starts
Author: Jim Sinclair
Dear CIGAs,
There is no doubt the Fed and the PPT are meeting right now. A drop of over 300 points on the Dow after the Chairman of the Federal Reserve speaks publicly presages a $1000 break in gold coming quite quickly, if not tomorrow.
Unless the equity markets can be calmed, a panic is about to happen, making the statement "This is it" a horrible reality.
If the equity markets cannot be calmed then:
* Recognize this is the Formula happening like everything else much sooner and much bigger in its implications than anticipated.
* Gold will rise to $1650 as an almost immediate effect of what will be done to attempt to fend off a total panic starting to take place in general equities, therein threatening to be followed by all credit markets of all kinds.
* The funds and hotshot short term traders in gold shares will be killed by the upward explosion of the gold price about to occur.
* The PPT and the Fed will step out of gold’s way because gold is one of the tools used in 1930 by Roosevelt and in 2000 by Bush. It will be used again now on the upside.
* Gold is the only insurance there is against what all this means because a panic in equities will blow the financial system, already coming apart, to smithereens.
* All country funds would shut down on any further investments in "at the wall" financial institutions.
* The rollover in credit and default derivatives would exceed the entire foreign debt of the USA.
* The rest of the $450 trillion dollar mountain of derivatives would start a disintegration like nothing you have every seen in your lifetime.
* Consumer demand would slam shut.
* The auto industry might as well go into liquidation this coming Monday, avoiding the June 2008 rush.
* The US dollar would burn a hole in the floor going directly to .5200 or lower.
* As the dollar disintegrates gold would rocket to and through $1650 in days.
* The markets for general equities would all have to institute total trading halts every 100 points on the downside for 30 minutes each.
* All commercial call loans would be called.
* All debtors one day late on any payment, lacking grace period, would be liquidated. All debtors over one day of the grace period would be liquidated.
* It is clearly visible to anyone with eyes or a mind to think that the PPT has lost all semblance of control in the equity markets and will soon in all remaining markets.
* The commercial paper credit market which is almost dead will die totally.
* Should no emergency action take place soon, you will see an old fashioned panic of the 1929 variety.
* Just as emotional fools sell gold and gold shares, be assured that more emotional general equity fools will unload and bring the averages down more than ever in history in one day.
* Recognize this is the Formula happening like everything else much sooner and much bigger in its implications than anticipated.
* Emergency action will be all splash and theatrics but truthfully the cat is out of the bag. It buys some time but corrects nothing. It makes the Formula 100% correct.
* There now must be EMERGENCY ACTION because the Chairman of the Fed has BOMBED OUT PUBLICLY and a PANIC is about to occur. Expect EMERGENCY ACTION in days, not weeks.
If you have not protected yourself, you may only have days to do so now.
Is the current situation still called a correction or what is the correct terminology for it? There is a term for everything else, what is this versions of what is happening.......ie, dotcom
Boy what a rant! Bit of emotion bubbling up in that one.
The guy is a gold bug. They all seem to be like this.That person has probably watched too many TV shows lately... severly dramatised disasters... the hurrican that will flatten New York... the cold freeze that will send half of the earth into an ice age... etc, etc...
May as well just go and shoot myself right now...
GP
The guy is a gold bug. They all seem to be like this.
But the scary bit is that the scenario is possible. The infuriating bit is that things have been allowed to develop to a stage where it is possible.
This wouldn't be good for anyone, even gold bugs, so let's hope it never plays out like that.
Well... the cash might be useful for the funeral expenses I suppose...Before you do, would you mind selling all your stock at ridiculously low prices?
Lucky Aussies eat steak sandwhiches and sausage sizzles then hey .
At least they'll get the pay levels they deserve .
May as well just go and shoot myself right now...
GP
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