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Sunday morning with Rick Ackerman and Jim Sinclair

Section: Daily Dispatches

By Jim Sinclair
Saturday, May 8, 2004

My Dear Friends:

I care deeply not for money, not for the joy of victory,
certainly not for publicity of any kind, but for all of you
in the Gold Community. I feel your concerns as if they
were mine.

I have spent many years pursuing a deeper
understanding of life than most people would realize.
To some degree, I have succeeded and in that success
I feel the pain many of you are enduring right now.

The battle between the gold bulls and the gold bears is
one of truth versus lies, honor versus deceit, honest
money versus the ever-expanding paper currency that
threatens our economic well being.

We are hated because we stand for what is right. Gold
demands balanced federal budgets and positive
balances in U.S. trade and current accounts to justify
the U.S. dollar being the world's reserve currency.

I have no worry about gold now because I know how
things end in the market even before they begin. I am
the son of one of the world's greatest traders, Bertram
J. Seligman, who like, Jesse Livermore, always knew
what was over the horizon.

I do not pretend to have all the talent of those market
giants but just some of it. Goldman Sachs, Solomon
Brothers, Lehman Brothers, and Bache were a few of
the firms started by my family. All this appears in a
book called "Our Crowd."

Although Bertram Seligman was my father, James
Sinclair (from my mother) has been my name since
birth. If it had been possible, I would have changed
my surname back to my father's prior to entering
my career.

The knowledge of Wall Street runs in my blood, my
heart, and my soul. I have no hobbies and want none.
All material things have served me and are no longer
attractive for me. Only dedication to my duty attracts
and pleases me.

My concern is for you, my comrades in gold, because
I know exactly what is taking place. The barrage of
negatives thrown at gold from London's Financial
Times and the statements concerning China by the
chairman of the Federal Reserve is a power play
because gold stands on the threshold of a major rise
that will embarrass the powers that be who depend
on deceit to maintain their power base.

This week's gold action has zero to do with charts
except in their use to manipulate the gold market.
Fundamentals are roaring in support of the gold price.
This week's action was brute strength and major
media spin with the single purpose of breaking the
spirit of the gold market.

I have done my part for the cause in the marketplace
and in my attempt to professionalize the public. I
have given you my word concerning what I intend to
do if gold fails to trade at $480 in 101 days. My word
is my bond and my honor is my only asset.

I now call upon our powerful bullish gold allies all over
the world to join those of us in the West who believe
in honor, honesty, the proper management of
responsibility in money, and the proper exercise of
power to actively in this battle.

The moment that the U.S. dollar fails in momentum
terms, we have this army of gold bears deep into the
trap that I well know you have set for them. Closing
the trap in the dollar rally will cause the price of gold
to explode on the upside because those who oppose
us are deeply short gold.

To the good people in the Gold Community, have no
fear for your values, because the only thing you have
to fear is what I have told you before: the use of margin
on gold anything.

Your friend,



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