“Gold and silver will be your only lifeboats” warns Jim Sinclair

GoldCore's picture
  • As for gold and silver, these markets are both REALLY tight if you want the physical metal. If you are trading paper metal …oh well, can’t help you.”
  • “This is the Great Credit Unwind and as such, currencies of all sorts, including the dollar, will take turns crashing. Watch the various sovereign treasury prices and yields (also CDS credit default swaps) as a clue to which country is experiencing an “attack du jour"."

Gold and Silver Lifeboat

  • “Gold and silver will be your only lifeboats as they are no one’s liability in a world where everything including the money in your pocket is someone else’s liability.”

    Jim Sinclair is one of the most respected experts on the gold market in the world and he released this important warning to his community over the weekend.

The full note to his readers can be read here

Download Essential Guide To Storing Gold Offshore

Today’s Gold Prices: USD 1,153.50, EUR 1,005.93 and GBP 734.40 per ounce.
Friday’s Gold Prices: USD 1,149.35, EUR 1,021.33 and GBP 732.75 per ounce.

Gold in USD - 1 Week


Gold in USD - 1 Week

On Friday, gold rose as high as $1161.67 in New York and ended with a gain of 0.64%.  Silver slipped to as low as $15.14 and ended with a loss of 1.29%.

Gold was 4% higher for the week and made strong gains in all major currencies. Silver was also higher, but by just 0.41% for the week.

Gold stayed close to its highest level in almost seven weeks today as worries over a slowing Chinese economy pushed investors away from risky assets such as equities and into safe haven assets.

Asian equities tumbled to three-year lows, the U.S. dollar retreated and industrial commodities from copper to oil slid to their weakest since 2009. The Chinese stock market collapsed another 8.5% and the Nikkei was 4.6% lower.


Gold stands tall as China fears fuel safe-haven draw – Reuters
Gold Holds Weekly Gain as Global Equity Selloff Increases Demand – Bloomberg
Gold Bulls in Goa Happy to Quit This Year for Promising 2016 – Bloomberg
Kazakhstan, Malaysia Boost Gold Reserves; Colombia Cuts Holdings – Bloomberg
Stocks post worst week of 2015 – Investors move to gold – The Irish Times


“Gold and silver will be your only lifeboats” warns Jim Sinclair – Jim Sinclair’s MineSet
Death of buy-to-let: landlords wake up to Osborne’s 150pc tax – The Telegraph
Can Kickers United –Why It’s Getting Downright Hazardous Out There – David Stockman’s Contra Corner
The Fed Is Looking at a Very Different Dollar Than Wall Street – Bloomberg
Is Gold a Safe Haven? – FXStreet

Click on News and Commentary

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Essential Guide to Storing Gold Offshore

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fed_depression's picture

The fakeness is at an obscure level. Buckle the fuck up.

DoctorOfLove's picture

In a deflationary collapse, how does gold help?

fed_depression's picture

I posted this today as a warning. The CBs are tied to Gold Silver as a Hedge if paper collapses their hedge is no good also because everyone else has it.

mastersnark's picture

You tell me this now? After I just lost all my money in the stocks?

kuro_neko's picture

I can swear to you, if you're swimming naked in the ocean, and you try Gold or Silver as a lifejacket, you will sink with it !!!

on the other hand, i  guarantee you that Paper Currency DOES float

Lazane's picture

Only 2 precious metals that really keeps on giving time and time again, brass and lead is on sale.

WorkingPawn's picture

I had all of my gold and silver in a lifeboat - only to lose it in that horrible boating accident.

JamaicaJim's picture

"We need a bigger boat" - Brody to Quint

cpnscarlet's picture

It's SILVER's action today that has me frustrated as hell. Gold...not so much.

DirkDiggler11's picture

I can guarantee you the price of silver will get drunken monkey hammered tomorrow cause I bought a monster box of ASE''s this morning. I'm like Gartman when it come to buying phyz, the price always to the opposite direction the following day.

Ajax_USB_Port_Repair_Service_'s picture

All of a sudden, silver is not a precious metal. Silver is now an industrial metal subject to the deflationary down trend of all the pedestrian commodities. This can't last long. Silver will buy more than the dollar - long term.

Whisky will buy you whatever you want anytime any place - stock up!

Latitude25's picture

Yeah I've been saying the same thing for a while now and it makes the silver stackers angry

oddjob's picture

Not sure why anybody would be angry about lower prices, unless you are using leverage or trying to short term trade it.

Conax's picture

You don't get to be the most undervalued asset in the world without banks pounding you flat night and day for year after year.  Poor silver, that's got to hurt.

I saw volumes of about 40,000 contracts a minute during today's battle. It was a decent showing, considering.

Bendromeda Strain's picture

Quite so. Gold may have been the "abyss" that bankers stared into, but they truly have a seething paranoid hatred of the little man's life preserver.

EurGold's picture
EurGold (not verified) Aug 24, 2015 1:52 PM

1 Ounce Silver Vienna Philharmonics €13 @ EurGold


Burticus's picture

Gold & silver (acquired when on sale, like in 2001, 2008 & 2015) will be the only things left standing among the crispy critters amidst the twisted smoking financial wreckage.

bshirley1968's picture

Dude loses credibility with me when he starts talking about storing gold overseas.

Why in the hell would I do that?  So I can live in totalitarian Amurika like a slave and yet be wealthy somewhere overseas? 

As Amurika goes, so goes the world.  They take your gold here, they take it there; it will make no difference.  Plus, who would I trust "over seas" to hold my gold for me while I am in a detention camp over here?  I don't trust the punks in New Zeland, etc. anymore than I trust the goobers running this joint.  If I can't hold it or touch it when I want to......it ain't mine.

zeronero's picture

Gold has little value in the digital age. It's only value is jewelry.

Gold is over valued and will float down to under $1000/oz.

JamaicaJim's picture

A nice friendly couple of EMP's will change that scene...quick.

JamaicaJim's picture

A nice friendly couple of EMP's will change that scene...quick.

ramgold2206's picture

Zeronero I'm all for modern advancement but your thinking too short term. Crypto is great for current expenditure on eBay or perhaps the Silk Road. But as a store of wealth for 10 or 15 years utter madness. They and the technology behind them is to volatile to trust
Long term gold and other PM


wstrub's picture

Yes, exactly why the world's central banks use it as reserves......BECAUSE IT HAS NO VALUE!!!!!!!!

Bendromeda Strain's picture

Shhhh - you might wake him up...

ali-ali-al-qomfri's picture

Jim that's just silly, everyone knows you don't put PMs in a life boat, they go in the canoe......I know you are much smarter than this now come on.....

SimplePrinciple's picture

While the quotes presumably express Jim Sinclair's sentiment, they are actually from Bill Holter, as the link makes clear but this write-up does not.

Latitude25's picture

All of you commentors who criticize Sinclair on his timing; I guess you guys knew all along what the FED was going to do?

Semi-employed White Guy's picture

Those lifeboats are taking on water.

Harbourcity's picture

Anyone else remember years back when Jim Sinclair had a count down to "Gold going to the moon!" 


It never happened.  


Even a broken clock is right twice a day.  Jim hasn't been right yet.

Fahque Imuhnutjahb's picture

Mineral analysis shows that there is gold on the moon, and nano gold in the ocean, and on asteroids, hell if the price were to spike

there'd be gold oozing out of every conceivable source.  Long paper.


Bastiat's picture

Jim Sinclair was right for a looooooong time.  But not since 2008 or so.  As a trader he believes in markets -- he was unprepared for the suspension of price discovery.


Shaznardickleze the Doon's picture

Does this NOT mean the same for price rediscovery? When paper is realized worthless gold and silver will be rediscovered as suddenly a standard of wealth and value as it always has been.

Bastiat's picture

The Fed is my only lifeboat!! I believe!!

Fahque Imuhnutjahb's picture

"Bastiat's" famous last words:  "Gluuuuub! Glub Glub!  Gluub! Glubbedy Glub!!"

BizDuck's picture

A lesson to be learned. Gold remained relatively the same when the market dipped 1,000+ points, Market crashes won't affect gold too much, currency crashes will push gold higher.

JDintheUK's picture

You're better off with vintage Lego - 12% pa since 2000 and it DOES float.

thunderchief's picture

Martin Armstrong spent too much time using Cigarettes as a currency behind bars.

I Bet that makes anyone a bit frightened of real money.

Marco's picture

I wonder how many stackers smoke but have only a small supply of cigarettes.

OldPhart's picture

I have thirty pounds of bagged tobacco and thousands of papers.  When it's that bad, I'd prefer the chore of rolling my own over the ease of a cigarette.  Plus, an ounce or so, will be a tradeble good.

Latitude25's picture

I don't smoke but in my travels tobacco has always been the #1 trade item.  Next is whiskey.

Able Ape's picture

Who listens to this guy?...

dlmaniac's picture

Mr. Sinclair needs to work on his timing to say the least. Whoever listening to his screaming the past 2 years were losing money.

Bendromeda Strain's picture

How so - the stack is the same size and weight it has always been...

lordbyroniv's picture

"The gold promoters promote their gold" - Martin Armstrong

Bendromeda Strain's picture

"The gold promoters promote their gold" - Martin Armstrong

"Ignorants promote their ignorance" - Me

anarchitect's picture

Yes, and the numerologists promote their numerology.

fedupwhiteguy's picture

Me love gold and silver long time!!!!