Friday, August 5, 2011

Gold King Sinclair Gives New Gold Angels, Says Run on Dollar ALREADY OCCURING

Gold King Jim Sinclair takes the podium at Gold Rush 2011.

*Jim Sinclair: $3,280.. $2.048.. $1,950..
*Sinclair asked about gold-silver ratio: I do what I know, I'm not silver, i'm gold
*Jim Sinclair: we are victims of reckless endagerement in the form of toxic derivatives, over one quadrillion dollars of them.
*Jim Sinclair : downspiral that begun in 2000 will continue to zero. interventions were not aimed at cause.
*Jim Sinclair: I strongly recommend that you don't see this as a top. This is the lowest possible level.
*Jim Sinclair: BIS value method, value to maturity is a joke.
*Sinclair: QE3 would be the worst possible choice. Fed has no choice.
*Sinclair: post-Lehman no longer possible to face derivative issue. Before it could have been done, but not after bailouts.
*Sinclair asked about gold miners paying dividend in gold: Miners are the last people to understand metals.
*Sinclair: gold will find it's place back in the system. a virtual reserve currency cretaed when all other games and tools fail.
*Jim Sinclair asked about Treasuries as safe haven- they are flocks of sheep. They don't know yet. It is changing.
*Jim Sinclair: run on dollar? Yes it's already occurring. camouflaged, but happening.
*Jim SInclair: Gold must be your central investment now. You do not need leverage, the move will be huge.