Jim Sinclair: Gold to $5000-$12000?

Martin Armstrong just wrote a paper on gold titled, "How and When." My response to this article is why?

Why in the world, if you believe that the gold price can go to $5000 and $12,500, as the article says, do you give a damn about the next 90 days?

You must realize that the economic and political damage is already done.

You must realize that the mountain of OTC derivative paper is not going away.

You must realize that all the old legacy assets (broken OTC derivatives) demand to be adjusted at
each market turn in order to maintain any semblance that they are serious contracts.

You must realize that this adjustment means adding on new OTC derivatives.

You must realize that this means the mountain of OTC derivative weapons of mass financial destruction can only grow.

You must realize that it is not whether or not QE will continue, it is what it already has done to the Western economies that much higher gold prices will reflect.

You must realize this is not a business problem, but rather a debt problem as it applies to the gold price.

You must realize the monumental change in the Middle East is NOT positive for the West in any manner, shape or form.

You must realize that the change in the Middle East is from some form of government to chaos.

You must realize that the beneficiaries of chaos in the Middle East are Iran and Russia. (read more)