Sunday, July 11, 2010

Gold is Going Higher...

"Daily Bell: Where is gold going? Silver? Harry Schultz: Much higher. Sky is the limit for gold. Governments are losing control of gold. They cheat, steal, lie, maneuver … but gold will beat them and is already doing so, in stages."

- Harry Schultz

BP is Finished?

Rickards correctly predicted that BP would be charged with criminal negligence, and he also predicted this would result in damages that would finish the company altogether. In less than 30 days, Politico has confirmed that criminal charges are forthcoming against BP and that others will be prosecuted as well.

This was from the Jim Rickards piece on June 18th titled Why BP Will Not Survive:

“Don't think the law can stop this. The law will accelerate it. BP's negligence will turn out to be criminal, not civil and the criminal penalties are exponentially greater than the civil fines and normal tort claims. Obama will use the threat of criminal prosecution to get more and then use an actual criminal prosecution to get the residual.”

To read the entire Jim Rickards piece “Why BP Will Not Survive” CLICK HERE.

This was from the Politico article signaling the BP criminal investigation:

Attorney General Eric Holder signaled here that the Justice Department may be conducting a sweeping criminal investigation into the Gulf Coast oil spill, saying that its suspected targets may cover more than just BP.

"There are a variety of entities and a variety of people who are the subjects of that investigation," Holder told CBS' Bob Schieffer at the Aspen Ideas Festival.

To read the entire Politco article confirming the criminal investigation of BP and apparently others CLICK HERE.

Eric King

Thursday, July 8, 2010

Champions! Gold and Silver

"Gold and silver have no counterparty risk, they are no one's liability or promise, they shall always have value. Governments and “Too Big to Fails” can all default; fiat currencies can go up in flames, gold and silver will remain poised competing neck and neck to champion the podium as the number one worldwide monetary unit of choice."

- Mike Maloney

Wednesday, July 7, 2010

Eternal Wealth

"My advice now is to put as much of your money as you’re comfortable with in bullion coins. The reason rich men accumulate gold is as follows. Gold is eternal wealth. Own three thousand ounces of gold, and you’ll always be wealthy. Remember the simple phrase that’s been around through years of history – “There’s no fever like gold fever.” Fiat money is doomed. Act on it."

- Richard Russell

Tuesday, July 6, 2010

Leave your Emotions at the Door

"Dear Friends,

Risk according to market pundits, blogs and for payment advisers is on one minute, and off the next, causing the gold market to roar and wane.

Hedge funds are the real cause of the moves by painting the charts intentionally or by accident. Amateur technicians run and jump constantly making contributions to the gold banks from their piggy banks.

Simply stated:

1. Leave your emotions at the door or get out of gold.
2. Gold is going to $1650. About that price objective I do not have the slightest doubt.
3. Gold is going to $1650 on or before January 14th, 2011. According to Armstrong the gold price will take until June of 2011 and go much higher.

This is just another time like many in the past, and some in future, where you go to the hole you have dug, jump in and pull a rock over the top. Peek out daily between July 8th and July 15th.

Yes, read JSMineset every day.

Jim Sinclair"