From Jim Sinclair
A listener sent this to me this morning and I felt compelled to pass it along to all of you. It is, obviously, courtesy of Jim Sinclair.
Defend Yourself By Not Giving In
January 24, 2013, at 7:34 pm
by Jim Sinclair in the category General Editorial | Print This Post | Email This Post
My Dear Friends,
Please do not fall for this classic manipulation. Please do not make the gold banks happy by giving away your physical.
Please do not throw away gold shares because the hedge fund have worked black PR so well that they even have
convinced some well known community physical gold merchants of their bear position of shares.
How many times have you seen this not to recognize what it is? Well, this is the big one and last play to denude you of
your position. Remember, for every seller there is a buyer. Has not every reaction in gold since $248 attempted to do just
that? This big one is no different.
Fundamentally we are approaching the period in gold when it will move up the most points in the shortest period of time.
The paper gold market is being used to shake the bullish tree harder this time than any time before because of what is to
come. Fear is the most powerful emotion in markets and it is being used perfectly to enrich the grand names of finance at
your expense.
Remember how you felt during the first reaction above $1000? This is nothing different. The take downs are planned for
times when the market is least liquid either inter day or inter market. This is not liquidation, it is price movement only. I
used to do this for a living. I don’t think, but rather I know.
Clearly the gold banks will try to get gold into a capitulation point. Hear me: We are right in front of that time when the
market performs a classic bottom both in shares and physical. From this point gold is going to and through $3500. That is
why what happened today is happening in the first place.
If you are unable to buy at this time there is one thing you can do. There is one way to get into the fight and out of the
stands. That act is do nothing, and do not capitulate. Let them play the price game, but give them nothing whatsoever of
yours.
You can exhaust the downside manipulation by not letting it work in the classical terms. You can get into the scrap and
not just be on sidelines by calling their bluff no matter how much temporary pain needs to be confronted. We are more
powerful than even you know. We have what they want, and we can simply say, NO!
Call your gold companies and ask how their affairs are coming along. Now you must know. Do not pussy foot with them.
You want answers
Communicate with me and I will do my best to help you through this: treceo108@icloud.com
Please do not be duped by the giant bastards playing you. Every day that passes is one day closer to the day
manipulators change sides to long, just like they did in the 1970s.
All this will be old history on my upcoming 72nd birthday. I think you know the date, but no way am I going to inform the
gold banks and Fed that read us religiously.
Please let them play their numbers game but do not give them one ounce of your gold or one share of your gold
companies for whom all things are progressing well. Soon you will know that you beat them at their own game for the
first time. You can be proactive by simply having courage of your and my convictions, therefore not giving them any
of your product. There will be great satisfaction when you face down the bully who is basically full of it. This is our last
battle before victory. I will be there and I want you to be also. Let them play their price game but do not give them
product. Stand tall and stare the bully down. He will flee as this is the last thing he expects.
Have my courage by knowing that we are absolutely correct in markets made by devils that are bullies whose occupation
is theft. Gold is the ultimate battle between good and evil. This period of the market is the deciding period of the
Mahabharata. This is war and you are in the middle of it. Stand firm and stay the course. Now that the gold banks have
us surrounded they cannot get away.
Consider this “Broken Arrow” and please ladies and gentlemen, prepare to defend yourself by not giving in to the
purposes of the devils we oppose.
We will win, I promise you.
Sincerely, Jim
svm was hammered when it was about $15, they took whoever it was to court in the states for the allegations, the judge ruled then that they were entitled to their opinion. In china 3 people went to jail for it I believe, (the short sellers).
Now this new phase, attack on svm. Personaly I think it shows us just how corrupt the market is, I watched about a year+ ago when a few companies were getting hit similar to this, I forget who they were but their share values were between $10-$15 at the time, turns out it was short selling then start a rumour, jittery market and down the price would go, good plan actually, but we are playing in one very crooked market, totaly corrupt, eventually enough people will figure it out and there wont be a market left. That is just 1 scheme of course there are others, pump and dumps are classic, NIA likes to do that. I wont buy more shares until the dividend is maybe 5% of the share price 2-4 times a year, I keep my existing shares (free to me)as we continue to hear about PMs skyrocketing but shares just seem to get hammered repeatedly.
I really do think the companies are going to have to buy their own shares back and some kind of new system is created. Maybe I am wrong, hope so but looks pretty corrupt to me.
I would like to see the short selling list updated at the end of every day instead of twice a month. Paying dividends is the only way I see of getting the short sellers off the stocks back. Short selling does not increase liquidity for the market either it just provides for the short seller specifically. IMHO I think the only way to bring back confidence in markets is to ban ALL short selling as there is fraud throughout and any other way of regulation is based on data from the short sellers and is unreliable at best and lies at worst.
Dan
Hi Dan,
If you don’t mind me asking; where can I find up to date stats for short positions in Canadian stocks? I know Yahoo! has that info for US stocks, but not Cdn; or am I wrong?
Thanks
It costs about $5 /month for only the short positions but there is a 15 day delay on the twice /month updates. Its hardly telling but can give you a rearview mirror idea of what’s up.
http://www.stockwatch.com/swnet/utilit/utilit_logino.aspx?error=Not+logged+in
Dan
I traded SVM back in 2009 when the SP was in the $5-$7 range and silver was under $20. I hold a small long term position (with an average cost basis in the $5 range) and am not selling; I’ll be a big buyer if the SP drops below $4. I don’t really put too much into the gold and silver manipulation theories but for SVM, I think it is one of the most manipulated stocks in the PM space. I am not a lawyer by any stretch of the imagination but I find it strange that two investors, who hold 7,000 shares (at present value worth ~$30k and is 0.004% of the shares outstanding if I did my math correctly) can launch a class action lawsuit against the company. There are certainly some concerns with operating in China and also the detention of a company critic, but I think the company has tried to be as transparent as possible. I guess we will see how this all plays out with time.
Sinclair’s caution is probably preaching to the choir for the regulars here, and Dan, you’re bang-on. It’s so easy to manipulate a small miner. Jeez, in the early 80’s my friends and I used to joke about this. Just start walking around the doors of the VSE and belch out rumours. Some teen actually was charged with doing this in 1982 or so, and it made some news (he got off).
One of the disadvantages of living in a society where your Maslow needs are met, is that people presume a basic level of comfort, trust, stability, etc. “If I feel comfortable, so do most others…” Heh. Most retail investors are easy to dupe. It would be so easy to make $$ off people, were one devoid of the wrong values. The internet and dark hedge funds accommodate such innuendo and power plays very nicely today.
The one big advantage retail investors have is time. We’re not trying to maximize velocity, but look for value. Value investing takes time, but it’s much easier to be right in the end, and most of the bad-apple big boys won’t play this game. Not until gold either becomes their short-term, high-velocity play of the month again, or the only option for wealth storage.
Buy and hang on tight, as Jim says. Nothing pisses them off more. It’s that much less gold they’ll be able to buy when they do change their minds.
i am hoping for one more drop below $30 so i can back up the truck again! how about it “Doc”, do you see it in the charts??? dw
DW Jones:
Amen Bro, Amen. Not many weak hands around this time…………………….
We keep hearing about manipulation from many people in the industry but never from the CEO’s of the P.M. companies. It’s time they openly start talking about this with the news media. They are in the best position to identify the ass-holes who are doing this and they are also in the best position to put an end to it. After all it is illegal and they’re accountable to their share holders.
As long as these idiots sit back and let this happen it’s never going to stop. The manipulation just keeps getting bolder and why not no one is doing anything to stop them. Stop acting like a bunch of little girls and fix this problem now.
SANDY..HELLO….I must say i agree with everything you just wrote. Imo it’s “TIME” all of the mining company’s formed some form of body , with the sole aim of taking legal action against the party’s behind the manipulation of this market, as you say they owe to their shareholders , & to their own company’s….I could be wrong , but is it possible that some of the big people in these company’s could be in on the scam ? If we people on this site can “CLEARLY” see what’s going on , then i am sure the CEO’s of these company’s know & are aware of what’s going on , so “WHY” are they not doing anything about it ? Perhaps , AL could put this questing to all the people he knows in the mining industry . Everybody who own shares in these companys should write to the CEO’ & ask the following questions questions.
ARE YOU AWARE THAT THE SHARE’S IN YOUR COMPANY ARE BEING MANIPULATED ?
IF SO , ARE YOU BOTHERED , & IF SO WHAT ARE YOU GOING TO DO ABOUT IT ?
DO YOU BELIEVE YOU OWE IT TO YOUR SHAREHOLDERS,TO GET THEM THE BEST DEAL ?
ARE YOU SCARED OF THESE PEOPLE , IF NOT WHY ARE YOU NOT DOING ANYTHING TO PROTECT YOUR COMPANY FROM MANIPULATION , TO THE BENEFIT OF YOUR COMPANY , & YOUR SHAREHOLDERS……..WHO YOU OWE IT TO ……………………………………
Perhaps someone on this site could word these questing s better .
Irish,
No re-write necessary – GOOD JOB!
marc…thanks….As you know i don’t any shares in any company…whats the difference between a a company share & fiat currency ……..they are both paper promises ….me i prefer …… PHYSICAL…….no third party risk …….
OOOPPS……i dont OWN any
I tend to agree Sandy, but there’s at least two problems:
1. David vs Goliath. Just a because a CEO is the head-honcho, doesn’t mean they’re very powerful. Collectively, however, they would be moreso. Collectives, once created, might also look like collusion to regulators. The BC and Ontario SC’s are just itching for something to do, to justify their existence. Nothing like a good, juicy scandal to create and mop-up.
2. Libel is a fine line. Who exactly would they call out, and for precisely what? I can express my personal view that JP Morgan has some of the biggest bunch of @ssholes anywhere today. But if a CEO starts accusing a company or a person like that, they better have something solid to back it up, otherwise, they are a risk to their shareholders and themselves.
So notwithstanding the above, I still agree with you. VRIC, Cambridge House, New Orleans, etc. are great venues to have a roundtable expressing CEO’s “personal views”, recorded in HD and given out on DVD to any who want a copy. Maybe a little bit of marketing would hurt either, a field miners rarely get involved in, beyond an electronic press release.
Big Al,
Thanks! That was the POST that Irwin and I were referring to yesterday on the blog. Thanks, again, for making readily available for all to read and comprehend….hope it helps you….JAMES THE LESSER!!
Just wondering, the s&p and/or djia is higher than it has been forever? some say its time to come crashing down, does it make sense that PM shares come down with it?
Dont they always when markets crash?
marc – Yes it encouraged me to stay the course! Thanks! It bears repeating, for myself as well: Be right and sit tight, don’t let the bull throw you, the big money is made in the big move!
I have three teenage daughters and know what a Drama-Queen is and the PMs are THE Drama-Queens of the investing markets. I just think of Silver as the’Whoe is me’ metal with the back of its hand across its furrowed brow and closed eyes and tears streaming down its cheeks.
Dan
That goes for the CDNX also!
Dan
DAN………HAHA
Irish,
Double DITTO….Dan…CLASSIC!
James,
Great job… way to keep your head in the game…!!
BTW,
Somebody who I followed REAL CLOSE, HOWARD KATZ, the ONE-HANDED ECONOMIST…very, very intelligent guy (he passed a couple years ago..gosh, I REALLY miss him) that was one of his signature lines: THE BIG MONEY IS MADE IN THE ONE BIG MOVE! I would give my left leg to wonder what he would be saying to us right now.
Maybe this price drop as we speak is where the US Mint is getting their silver from. Conveniently right around options expiry when things can get real crazy.
http://www.kitco.com/reports/KitcoNews20130125DC.html
Dan
Dan;
Thanks for the “stockwatch” link up-thread.
Wasn’t able to reply there; it must be a feature of this site, to discourage chatting between 2 posters.
Sorry to say this but, I think gold and silver have just a bit more downside to go, not much but it is possible to see gold get one more whack at 1618-1625 and silver near 28.75 – 29.00.
All that without…a “circle the wagons!” or “Katie bar the door!”.
I felt like I was in my high school football locker room.
I want to go play a game.
Yes I agree…..I think IRISH , will look swell in his cheerleading kilt……, btw,,,do they wear anything under those….second thought ,,,do not answer that….
JERRY……cheerleading kilt…..were the hell did you get cheerleading from……btw…….
emerald green french knickers……………………………….
When is option expiry? must be right about now?
One of the comments on the thread from this link from Stephan says that close of this Monday is the expiry for Feb.
http://www.zerohedge.com/news/2013-01-25/what-happened-precious-metals
Ordered a roll of silver coins early in Jan, and they took a week to ship. They were dated 2013!
Looks like a lot of PM bulls are ready to jump out of the window. Jim Sinclair posted a part 2 here: http://www.jsmineset.com/2013/01/25/defend-yourself-by-not-giving-in-day-2/
DO “NOT” JUMP OUT OF THE WINDOWS……….Sell shares & buy PHYSICAL…………………..
COMMON SENSE & LOGIC>>>>>”RULE”……….
Irish,
If you must jump make sure you’re on the bottom floor. DON’T SELL YOUR SHARES!!!! Don’t give them away unless the company is not stable. This too shall pass. Scare tactics to get you out of your shares. DON’T DO IT!!!!
Prediction: Five years from now gold in the US will be $760 per ounce but outside of the US gold will be closer to $35,000 per ounce. I believe this will be happen so the bigger question is, what will life for Human Beings be like inside the US?
Marc Alan, keep your mediocre analysis to yourself all you do is confuse people,
helen
It sure is a pleasure to see how civil the people in this country are. You make a great poster child for what we should be. thank you!
Marc Alan, think you are right. I was filled today @ 17.30, 5000 shares of First Majestic and 2000 shares of VGZ @ 2.26. Looking to get filled monday on 5000 more First Majestic at a lower price and 2000 SLV at $ 28.50 to $ 29.00. This is a gift people. Send a big thank you note to the banksters and thieves, stiffen up, stick to your fundamentals and at the end of the gut wrenching day sit back, sip a tuni (with olives) and know that the future is bright for those that stick it out.
Stay well, prosper and keep propping up those that are terrified. Regards!!!
JERRY (GATOR)……ASK The CEO,s of the company’s you are invested “WHAT” they are doing about the manipulation , of their company ‘s shares.
First Majestic addressed that question. Please review the web site for more info. They do not participate in the futures market and they are witholding silver from the market as cash. As far as addressing manipulation as a problem is concerned, you would have to talk to their pr people.
Irish,
Don’t really care what the COE’s are doing about manipulation. As long as the companies are strong and have cash in the bank eventually the physical will win. In the meantime I will take the dips as gifts and keep putting my money where I feel its right.
Jerry Gator, you forgot to mention your social security number.
What doed that have to do with anything??
Does it feel right?
I experienced this during the Carter administration. It felt right to own PM’s. Guess what. Profit profit profit. It felt right to own income producing property. Guess what? Profit, profit, profit. Yes, it also felt right to sell the PM’s and the income producing properties when interest rates escalated, but still, profit, profit, profit.
I am not bragging or trying to convey anything other than sometimes if it feels right given all you know, given the fundamentals surrounding the investment then it is the right thing to do, at least for you. Hey, I could be wrong in which case this Florida redneck still has a pontoon and 200 miles of the St John waterway to enjoy. Fish, cruise and chase gators.
Jerry Gator……I think you are spot on……..
btw…….Jerry Gator…..check out the term REDNECK….actually, it is a good term….orgin…starts with the W.Va. coal miners fighting against govt. thugs…..nice bit of history….for people in W.Va. and Kentucky…
Jerry The Short..nice bit of history..for everyone…. gov’t thugs are rampant once again….everywhere…..
Patience in the gold market is needed here and it looks potentially bullish but could still be bearish: rangebound markets. Sometimes the market moves up without any apparent news.
However, I feel disquiet because the big goldbugs (Sinclair et al) are getting more aggressive in their manipulation talk. That is a little troubling because so many stories are in about Chinese gold demand and the German gold repatriation and there is not one upward blip in the market. The speculators are playing elsewhere and are not coming in. Share price performance in gold is also rubbish. It seems that the goldbugs are all in and are coming out all guns blazing and they cannot get the market to go up any way at all. One wonders how leveraged some of these guys are and how badly they need for the price to move up and not down. I sense goldbug desperation here in their rhetoric. I think we have a dangerously unstable market here.
Dave, for myself I think alot of people got out and are getting out of PM shares due to corruption, more people find out about it every day. Other markets are rising I think because somebody is printing alot of currency and some is finding its way into markets, but not gold/silver. Maybe a deal has been agreed upon as to what markets it goes into. Cant remember who it was that recommended some time ago “forget shares, own physical” they look to be correct so far.
This is what is happening to your stocks. Anonymous letter sinks the stock price. Would this work on Goldman Sucks? I doubt it but since it is a Silver company and Canadian it is open game.
http://www.miningweekly.com/article/silvercorp-faces-class-action-lawsuit-based-on-anonymous-letters-2013-01-25
Dan