Jim Sinclair: 33 Days to go. Gold breakout not a cause for celebration (danger)

[MooreTime]

http://jsmineset.com/2009/10/06/golds-breakout-not-a-cause-for-celebration/

[Maya]

I have been following good ol Jim for over 2 years. He is always giving the number of days left and so on ...

[rayban]

Why 33 days? Is there some special event thats suppose to take place on November 8th of this year?   

[Leonytus]

Yep and when the day comes and goes, he will give some excuse as to why he was wrong and just project further into the future...

[MooreTime]

Yep and when the day comes and goes, he will give some excuse as to why he was wrong and just project further into the future...

Probably. But every single day he has been updating the countdown.
If something VERY significant doesn't happen by the end of his countdown his reputation will be drastically affected.

[Doomerific]

It's coming whether we like it or not so I'm partying like it's 1999. 

[ninakat]

I think the crux of what Sinclair is predicting is that the Chinese will be changing something on November 8 (thereabouts) which will be the beginning of the end for the dollar. Sinclair isn't very specific about what that is, although he dropped another clue tonight (if I'm reading him right):

http://jsmineset.com/2009/10/06/in-the-news-today-332/

Jim Sinclair’s Commentary

Remember, what I told you in July about the USA/China emergency economic summit called by China? Well here is part of it.

33 days to go.

China calls time on dollar hegemony
You can date the end of dollar hegemony from China’s decision last month to sell its first batch of sovereign bonds in Chinese yuan to foreigners.
By Ambrose Evans-Pritchard
Published: 7:33PM BST 06 Oct 2009

Beijing does not need to raise money abroad since it has $2 trillion (£1.26 trillion) in reserves. The sole purpose is to prepare the way for the emergence of the yuan as a full-fledged global currency.

"It’s the tolling of the bell," said Michael Power from Investec Asset Management. "We are only beginning to grasp the enormity and historical significance of what has happened."

It is this shift in China and other parts of rising Asia and Latin America that threatens dollar domination, not the pricing of oil contracts. The markets were rattled yesterday by reports – since denied – that China, France, Japan, Russia, and Gulf states were plotting to replace the Greenback as the currency for commodity sales, but it makes little difference whether crude is sold in dollars, euros, or Venetian Ducats.

What matters is where OPEC oil producers and rising export powers choose to invest their surpluses. If they cease to rotate this wealth into US Treasuries, mortgage bonds, and other US assets, the dollar must weaken over time.

"Everybody in the world is massively overweight the US dollar," said David Bloom, currency chief at HSBC. "As they invest a little here and little there in other currencies, or gold, it slowly erodes the dollar. It is like sterling after World War One. Everybody can see it’s happening."

More…

[Big Scotsman]

I think the crux of what Sinclair is predicting is that the Chinese will be changing something on November 8 (thereabouts) which will be the beginning of the end for the dollar. Sinclair isn't very specific about what that is, although he dropped another clue tonight (if I'm reading him right):

I agree Ninacat. 

Sinclair has some close ties with the Chinese and has been there on several occasions this year.  IMO Sinclair has some inside knowledge about what is coming from China around Nov 7th.

[picasso moon]

Evans-Pritchard article is a good find, Ninakat, thanks!