Tuesday, April 1, 2008

Jim Sinclair's 1 million dollar bet

Jim Sinclair's webstie www.jsmineset.com is the premier gold site on the internet. Others have value but if I had to pick just one to follow, Jim Sinclair's site would be it. Having followed his daily blogs for the past 3 years Im continually amazed at both the insights and accuracy in calling the gold price going forward.

Jim has repeatedly called for Gold to reach $1650 before the credit crisis is over. Today he has provided a timeframe and a million dollar wage on it.

Paulson Program and Lehman Brothers
Raising $4 Billion "Solve Credit

Jim Sinclair

Dear Friends,

Gold weakness today is predicated by the short
covering strength in the US dollar.

Short covering in the US dollar is predicated by the
Paulson program, the $4 billion raised by Lehman Brothers and the conclusion that the credit problems are now behind us.

The problems in credit are NOT behind us. The US
dollar problems are far from over.

There are consequences to the increase in liquidity
created to craft the appearance that no further major international investment and banking companies will need rescuing.

Gold will trade at $1650 before the second week of
January 2011. I am offering a $1,000,000USD wager with a financially qualified party that this will occur.

Any party on Bloomberg, CNBC or CNN stating an
opposite opinion on the price of gold should be informed of this

Please communicate to any vocal bearish gold expert
that I challenge them to put their money on their views.