Jim Sinclair is perhaps the most successful commodities trade of all time, and a bona fide legend in his own time. (Here is a recent profile of him in the Sunday New York Times: http://www.nytimes.com/2006/05/07/business/yourmoney/07gold.html?_r=1&oref=slogin
With no interest in personal gain for himself (he doesn't need any more money) Jim is making his extensive personal wisdom regarding the current financial crisis available to anyone free of charge. And his take on it is significantly different from what you'll find in the mass media.
What he predicts is quite dire, and quite imminent. But he is explaining in meticulous detail what ordnary people can do to protect themselves.
Below are some of Jim's recent posts. You can also go to his website: http://www.jsmineset.com/ARhome.asp?RQ=AR,1&GID=2&sPID=2&cTID=0&PRID=0&sCID=204
for further info.
He doesn't pander, and much of what he says may be difficult to understand. Unfortunately I cannot help you here because I am almost as much a novice as the next guy. If this is the case, I would suggest you find a link at his web site which can direct you further.
Good luck!
10/9/08
Dear Friends,
Gold is about to VAULT UP.
I am reliably informed that the paper versus bullion gold war is lost by paper gold at a $930 close.
Gold will vault to slightly under $900 then get pushed back, but not much at all. Directly after that we are off to $1200.
A Bank Holiday is moving from possible to PROBABLE.
• Have you fully protected yourself?
• Have you distanced yourself as much as possible away from financial agents holding your assets?
• Have you gotten paper certificates for your shares or became a direct registration book entry at the transfer agent?
• Have you protected your retirement accounts the same way as your shares above but in the name of the retirement account and the trust holding them?
• Have you closed your Money Market fund accounts regardless of what assurances your bankers offer?
• Have you withdrawn from your Credit Union?
• Have you exited your corporate retirement fund?
• Do you have significant gold and related shares investments?
It is getting UGLY out there as each day an attempt to postpone a bank holiday fails. Almost every other day lately financial leaders of the world have announced new plans that were "the final answer" to the super-glued credit market. All these plans have had no effect. The Dow fell like a rock off a cliff.
This says all efforts have failed.
Gold is about to VAULT UP.
I am reliably informed that the paper versus bullion gold war is lost by paper gold at a $930 close.
Gold will vault to slightly under $900 then get pushed back, but not much at all. Directly after that we are off to $1200.
A Bank Holiday is moving from possible to PROBABLE.
• Have you fully protected yourself?
• Have you distanced yourself as much as possible away from financial agents holding your assets?
• Have you gotten paper certificates for your shares or became a direct registration book entry at the transfer agent?
• Have you protected your retirement accounts the same way as your shares above but in the name of the retirement account and the trust holding them?
• Have you closed your Money Market fund accounts regardless of what assurances your bankers offer?
• Have you withdrawn from your Credit Union?
• Have you exited your corporate retirement fund?
• Do you have significant gold and related shares investments?
It is getting UGLY out there as each day an attempt to postpone a bank holiday fails. Almost every other day lately financial leaders of the world have announced new plans that were "the final answer" to the super-glued credit market. All these plans have had no effect. The Dow fell like a rock off a cliff.
This says all efforts have failed.
9/25
DO NOT LET YOUR GUARD DOWN.
THE BAILOUT ONLY BUYS YOU A LITTLE MORE TIME TO PROTECT YOURSELVES.
You need to distance yourself from your financial agents by:
1. Certificating your gold and silver shares.
2. Opting for direct registration book entry at the transfer agent for your gold and silver shares.
3. For your retirement plan, certificate the shares in the name of your trustee and the retirement plan. The alternative is direct registration book entry at the transfer agent in the name of the trustee and the retirement account.
4. Be sure your account at your bank is a true custodial account which is defined as an account segregated to you, away from the assets of the bank and therefore not on the balance sheet of the financial institution.
I am told where the retirement shares are concerned that Charles Schwab performs this service. Many others likely do as well.
The only way to be sure you really have a true custodial account is to have your attorney review the agreement between you and the institution.
I have personally used the services of Jay Marcus for this of:
Marcus Law Offices
2094 185th Street
Suite 15
Fairfield, Iowa 52556
641-472-5945
Gold is the ultimate answer as to what currency to own. The only way gold functions as insurance is if you hold it in your own hands. ETFs do not do it. Gold shares with the real stuff properly priced will do part, but not all of it. Gold at some coin dealers, segregated or as a certificate, does not do it.
If you have gold at any coin dealer or non-government mint and you want to remain that way please request their certified balance sheet. If a guarantee by some other party is there then get a copy of that guarantee for your attorney to read. The only business, as I have told you often, you should do with any coin dealer is to buy coins.
Do not use margin on anything GOLD. That totally defeats the insurance principle.
Respectfully yours,
Jim
THE BAILOUT ONLY BUYS YOU A LITTLE MORE TIME TO PROTECT YOURSELVES.
You need to distance yourself from your financial agents by:
1. Certificating your gold and silver shares.
2. Opting for direct registration book entry at the transfer agent for your gold and silver shares.
3. For your retirement plan, certificate the shares in the name of your trustee and the retirement plan. The alternative is direct registration book entry at the transfer agent in the name of the trustee and the retirement account.
4. Be sure your account at your bank is a true custodial account which is defined as an account segregated to you, away from the assets of the bank and therefore not on the balance sheet of the financial institution.
I am told where the retirement shares are concerned that Charles Schwab performs this service. Many others likely do as well.
The only way to be sure you really have a true custodial account is to have your attorney review the agreement between you and the institution.
I have personally used the services of Jay Marcus for this of:
Marcus Law Offices
2094 185th Street
Suite 15
Fairfield, Iowa 52556
641-472-5945
Gold is the ultimate answer as to what currency to own. The only way gold functions as insurance is if you hold it in your own hands. ETFs do not do it. Gold shares with the real stuff properly priced will do part, but not all of it. Gold at some coin dealers, segregated or as a certificate, does not do it.
If you have gold at any coin dealer or non-government mint and you want to remain that way please request their certified balance sheet. If a guarantee by some other party is there then get a copy of that guarantee for your attorney to read. The only business, as I have told you often, you should do with any coin dealer is to buy coins.
Do not use margin on anything GOLD. That totally defeats the insurance principle.
Respectfully yours,
Jim
Posted On: Monday, September 15, 2008, 6:08:00 PM EST
Have You Protected Yourself? A Review
Author: Jim Sinclair
Dear CIGAs ("Comrads in Golden Arms"),
Have you protected yourself? If not why not?
Let us review the means and ways to achieve this. Can you afford to lose everything?
A few notes:
A Transfer Agent is a bookkeeper for the company. Of course they have no insurance because there is nothing to insure. Even if they are owned by a financial there simply is no money held there, nor are your certificates. All that is there is a computer with your name on it.
"Direct Registration" is another term for "Book Entry."
Go back to your broker, no matter how you got there, and be sure that what I have advised you in fact has occurred. No exception at all!
If you have any problems contact the company in question, going as high up the chain of command as you have to go to get attention. Contact the CEO and Chairman if required.
Take no back talk from any broker. The majority of them are clueless. What you read here is FACT not up for discussion. Please review the following:
Have You Protected Yourself? A Review
Author: Jim Sinclair
Dear CIGAs ("Comrads in Golden Arms"),
Have you protected yourself? If not why not?
Let us review the means and ways to achieve this. Can you afford to lose everything?
A few notes:
A Transfer Agent is a bookkeeper for the company. Of course they have no insurance because there is nothing to insure. Even if they are owned by a financial there simply is no money held there, nor are your certificates. All that is there is a computer with your name on it.
"Direct Registration" is another term for "Book Entry."
Go back to your broker, no matter how you got there, and be sure that what I have advised you in fact has occurred. No exception at all!
If you have any problems contact the company in question, going as high up the chain of command as you have to go to get attention. Contact the CEO and Chairman if required.
Take no back talk from any broker. The majority of them are clueless. What you read here is FACT not up for discussion. Please review the following:
Posted On: Wednesday, July 09, 2008, 3:58:00 PM EST
Becoming A Book Entry On The Books Of The Transfer Agent
Author: Jim Sinclair
Dear CIGAs,
To start, here are several definitions you should familiarize yourself with:
Transfer Agent:
The record keeper employed by a public corporation to prepare and maintain records related to the accounts of their shareholders. Such information would include the name of each registered shareholder, his or her address and the number of shares owned. The agent oversees the issuance of certificates to new shareholders and the destruction of certificates that have been sold.
It does not matter if a transfer agent is owned by a bank or financial entity because it is a separately incorporated non-financial entity posing no financial risk to those it accounts.
Street Name:
A term used for describing a stock that is held in the name of a brokerage firm, instead of the actual purchaser of the stock. When you buy a stock and let your brokerage firm hold the stock certificate on your behalf, the stock is said to be held in "street name."
Nominee name:
An official of a financial institution or some other appointed agent to whom securities or other funds are transferred by agreement with the actual owner. Nominees facilitate the collection and distribution of income from securities (when such securities are held in the name of a nominee), and facilitate the sale or purchase of securities when it may be inconvenient or impractical to obtain the necessary signature of the principal in order to conduct a transaction.
Becoming A Book Entry On The Books Of The Transfer Agent
Author: Jim Sinclair
Dear CIGAs,
To start, here are several definitions you should familiarize yourself with:
Transfer Agent:
The record keeper employed by a public corporation to prepare and maintain records related to the accounts of their shareholders. Such information would include the name of each registered shareholder, his or her address and the number of shares owned. The agent oversees the issuance of certificates to new shareholders and the destruction of certificates that have been sold.
It does not matter if a transfer agent is owned by a bank or financial entity because it is a separately incorporated non-financial entity posing no financial risk to those it accounts.
Street Name:
A term used for describing a stock that is held in the name of a brokerage firm, instead of the actual purchaser of the stock. When you buy a stock and let your brokerage firm hold the stock certificate on your behalf, the stock is said to be held in "street name."
Nominee name:
An official of a financial institution or some other appointed agent to whom securities or other funds are transferred by agreement with the actual owner. Nominees facilitate the collection and distribution of income from securities (when such securities are held in the name of a nominee), and facilitate the sale or purchase of securities when it may be inconvenient or impractical to obtain the necessary signature of the principal in order to conduct a transaction.
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