Shooting from the Hip & Hitting Gold Bullseyes

Posted by Rick Ackerman on Jim Sinclair

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Contrast that with the shoot-from-the-hip showmanship of Mr. Bet-a-Million, my colleague Jim Sinclair.  Although his style and methods differ radically from my own, I have only respect for the man and for the way he has stuck to his guns on gold no matter what was happening in the markets. When an ounce was trading for around $1200 back in 2008, so certain was Sinclair that the price would rise to at least $1650 by this January that he baited doubters with a $1 million bet. Did he perhaps know something?  Of course not. No one could possibly know for certain where gold would be trading three years from a given date. But he did know – and never tired of telling us — that the U.S. Government had embarked on the most reckless credit expansion in human history – a blowout so far beyond anything that had ever occurred that it all but guaranteed the continuation of gold’s steep upward trajectory.