Steve Quayle News Alerts

November 12, 2003
Author: Jim Sinclair

The December gold options do not expire this Friday but rather are alive until the close November 24, 2003. This is enough time, IMO, for gold to better $400. So if you failed to roll forward in a timely manner (5 weeks in advance of expiration always) as I have instructed you, I would not give these away at too cheap a price. They could easily fly from here.

My strategy would be to sell a little amount into strength but hold some into expiration. That is gutsy but, hey, that is me. I say this because if you aren’t qualified to be in these money makers or money extinguishing items, your broker should never have executed the order in the first place.

Gold

Here we go through the neckline and then to the appropriate measured move objective. All systems are go and assuming the Gold Community itself does not muck up its own position again, gold will take out $400, $410, $420 and $430.

I told you that the CIA has had it with the present politicized administration

It’s a rule in dangerous times that the country’s rulers should never make fools out of their intelligence and armed forces. Well, the present administration in its ego-driven way has accomplished both. The alleged exposure of a CIA field agent by the administration has caused a definitive split between the agency and the administration that seems irreparable.

Now we are hearing about a leaked report from the CIA - but attributed to a White House source - stating that Iraq is a disaster of world-class proportions. It is ungovernable and being mishandled, there is no doubt about that. The present US-created Iraq ruling body is worthless in terms of governing the country or writing a constitution. That too, is a given.

Now that you have seen Jessica Lynch telling the real story of her rescue, you can see why major military personalities have tendered their resignations rather than oversee what is happening in Iraq (and being reported with such spin).

I noticed yesterday that Mrs. Clinton - although certainly having political aspirations - has accused the present administration of spinning the news on casualties in both the Afghanistan and Iraqi campaigns. That accusation addresses European concerns about the inaccessibility of media to the funerals of our fallen heroes.

Fortunately, gold is currency with no political agenda, no liabilities and no nationality. The Euro is heavily influenced by the long arm of Patriot 2 and the lack of legal due process with respect to foreign deposits in US banks.

Switzerland is no longer a place of banking secrecy. Who wants the Turks and Cacaos for money? Bermuda is too close to the USA. The Grand Caymans have too many wise guys for my comfort. Dubai is nice for money but only if you are Arab.

Money has no safe home anywhere now that the world has these NSA bank wire spies in the sky. Anyone that carries more than $9,999.00 in currency or equivalent out of the US and fails to declare it will be subjected to an airport security process that would make any Gestapo agent look like a boy scout. The punishment under Patriot 2 is draconian. Yet gold - whether under a mattress or in a mayo bottle - is still legal tender for those that wish some degree of privacy.

Gold will fly because of the polarization of the US military and the administration’s deteriorating relationship with the CIA because of the “outing” of one of its agents.

The US military did not invent Jessica Lynch as Rambo firing her weapon at the attacking Iraqis, killing scores of them before she went down. Now who do you think thought up that spin and required the military to go along with the story?

I wonder why General Franks, the hero of the Gulf War, made his decision to resign?

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