James Turk interviews Jim Sinclair (video below) about falling confidence in the economy and fiat currencies, and the approaching “Emperor is wearing no clothes” moment.
Most importantly, Mr. Sinclair outlines what he describes as the the mathematical significance of gold reaching the price of $1764. Mr. Sinclair suggests that beyond $1764, the price of gold could go “exponential“–meaning the price could skyrocket.
Note that the current, “New York Spot Price” of gold is $1664–only $100 less than the $1764 price Sinclair predicts may trigger exponential price increases. Note also, that the price of gold has jumped $130 in just the past 30 days–including a $40 one-day increase last Thursday. As of 9:34 PM (Central) on Sunday night (Aug. 7th), the overseas spot market price of gold has jumped $31 to $1695.
Implication: gold seems virtually certain to hit $1764 within 30 days–perhaps before the end of August–or potentially even this week (August 8th through 15th)
Whether “$1764″ is the “magic number” Sinclair believes it to be, remains to be seen. But it’s virtually certain that there is a number, somewhere, that will signal the beginning of an exponential rise in the price of gold. That “number” could easily be reached before the end of this year.
Sinclair is convinced that owning gold now is one of the few things you can do to protect yourself from a fast-approaching, financial catastrophe.
“We are on the cusp of a very difficult and serious situation. . . . We are at a point where it almost too late.”
I agree. I believe we are going to see some real trouble before the end of this year. That trouble might even manifest in the next few weeks.