Jim Sinclair’s Commentary
Gold is going to $1224, $1278, $1650 and then on to Alf’s numbers.
Gold’s Swiss Stair action is dynamic, making Alf’s numbers look much better than mine.
The Swiss Stair action here is the process of governments who have entered the gold market. When governments enter COT loses.
Hold Cheer Until Gold Hits $1,500 [...]

Dear CIGAs,
My friend, former partner, respected colleague and ace floor trader Yra Harris today said:
"Oh the birds are singing, the hills are alive with the sounds of music and the carry trade is in full swing. Today was the paradigm of the easy funding for the world for if you were an asset class that [...]

Jim Sinclair’s Commentary
Clearly the nukes are at risk, but so are those with the knowledge and the means of production.
The anti-Americanism is high in Pakistan and many will see this as an invasion of sorts.
US, Pakistan negotiate nuke security deal: report
WASHINGTON — The United States has been negotiating highly sensitive understandings with the Pakistani military [...]

Jim Sinclair’s Commentary
This one is a humdinger.
Note the letter from CIGA Richard B who looked at all five from Friday in light of an undercapitalized FDIC. Drain liquidity or reduce QE? You have to be kidding.
Apparently they waited to announce the fifth failure of the week! Based on the size of the bank we can [...]

Jim Sinclair’s Commentary
The score for this Friday is 4 broken banks so far at 8 PM this evening.
Bank Closing Information – November 6, 2009 These links contain useful information for the customers and vendors of these closed banks.
Gateway Bank of St. Louis, St. Louis, MO [...]

Dear CIGAs,
Martin Armstrong has written a new article titled "Is America On The Verge Of Another Bank War? Should We End The Fed Or Goldman Sachs?"
The subject is something we have spoken about here. The Fed is under political pressure not to SAY or DO anything that would be perceived by the Administration or Wall [...]

Dear CIGAs,
Today’s major event was FOMC’s unanimous decision to keep "Interest rates exceptionally low" for an "extended period of time."
This means that US dollar will remain the carry trade currency of choice as we transit to new ground with a major reserve currency as a carry trade currency. There are no rules or experience with [...]

The IMF versus the Asian central banks is like a go-kart playing chicken with the world’s most powerful bullet train. Good luck with that one. –CIGA Rusty Bayonet
 
Final Thoughts For The Day:
1. The general thinking is that today was massive short covering. Some point at the silly short [...]

Jim Sinclair’s Commentary
"When the COT takes on governments, the COT loses." -Jim Sinclair
This is extremely bullish for Gold as it proves our point that central banks would take all and any gold that becomes available for sale.
IMF Sells Gold to Central Bank of India By [...]

Jim Sinclair’s Commentary
I am sure that the public is clueless on how important CIT has been to the bread and butter business that I call Middle America.
People will find out soon.
CIT failure to leave small businesses floundering Sun Nov 1, 2009 4:36pm EST By Elinor Comlay
NEW YORK, [...]