Jeffrey Christian Surfaces…

Jeffrey Christian has re-surfaced on in an interview. You can see it here.

He’s much smaller than I had him pictured. He also admits that his consulting group CPM Group predicted in the fourth quarter of 2005 that gold would average $479 (I love it that these guys can be so precise!).

He’s asked if he is still bearish. Christian says, “clearly, price overshot by a wide margin.” No kidding! It only went to $736 on 5/11.

He did predict late in Q1, 2006 that he had a $600 price target for April. So if you had followed his advice of selling at $600 (though based on his 4th quarter prediction, I don’t have a clue why anyone would be long Gold), but assuming you sold at $600, you would have watched it continue on another $140 or almost 25% before peaking.

So now you are out of Gold at $600. The lowest price since then has been $563 and I don’t have any evidence that he got you back in. Now he is saying that gold ran up in anticipation of the war in the MId East and is down because “Syria and Iran have not been lured in.” What nonsense! I am sure the CIA would like to know Christian’s sources who anticipated that Hezbollah would abduct two soldiers and prompt Israel to counter attack.

“Lured” is another good choice of words. Syria and Iran are already in the mix as support for Hezbollah. It’s a question of whether they will be punished for their actions. Isn’t it nice to know that Syria and Iran won’t be coming into this war. Thanks Christian and the CIA thanks you, too.

Christian is on record saying that yes Gold could pop, but over the long term, gold is over valued and should average $500. Now he is calling for a seasonal AND cyclical peak of somewhere between $700 and $1,000 (why no precision here, I wonder) by April of 2007, because he expects the economic and political environment to continue to deteriorate, helping Gold. Sounds to me like he’s buying into all this garbage we read about Bush and his party taking a big dump at election time.

Why would anyone pay the slightest attention to anything this man says? If you want to hear the truth read Bill Murphy of Le Metropole Cafe, or James Turk or James Sinclair or Dan Norcini or Adrian Douglas or Mover Mike. should be ashamed for trotting this guy out and then latching on to his highest price of $1,000.

The one reason why Christian will not make you any money: He has no clue that central banks are short 10,000 to 15,000 tons of Gold and they can’t buy it back without sending the price to the moon. You know that PD shorted copper and cost themselves over $500 Million and they are still not clean. We know ABX is short Gold at basically $300 and has a mark to market loss on the books of at least $3 Billion. Who knows how much it cost to get the central banks Gold back.

Jeffrey Christian

Mover Mike

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