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« Paul Ryan — the Man Who Could Save America | Main | Randgold Resources Limited Call Options Up 30% »

Dear Comrades In Golden Arms, 03 March 2010

Jim Sinclair.JPG

Jim Sinclair very kindly sent us this missive this morning:
When Greece falls "CDS OTC Instruments of Western World Financial Destruction" will tear apart every currency, including the dollar, one state at a time.
Merkel will kill herself and Germany if she persists in political grandstanding.
When Greece is bailed out it is "QE to Infinity." 
Either way this is a catastrophe because the OTC CDS market now cannot be stopped as it will issue out of Uzbekistan or a satellite country if necessary.
It is too late. The monster that will eat the Western World has been set loose in Wall Street.
My observation is the financial leaders are acting too stupid to be stupid, so what is the agenda?
The agenda for gold is $1650 to $5000. Take your choice.
Gold mines will be mining money even though that concept has never entered the minds of the major producers. If it had they would not sell every ounce they mine or hedge anything ever.

Not looking too good is it!

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Reader Comments (1)

A tad more from Jim Sinclair:

Greece will fail and be rescued is all that is discussed in the financial world. Here is the real skinny:

1. Greece getting bailed out means QE (printing of money) to infinity. That means gold would rise from here to $1650 by January of 2011, or as Martin Armstrong said, by June of 2011. The dollar would fall. Equities and commodities would rise.

2. Greece getting flushed means that would enrich the CDS OTC derivative tool. Immediately the next target currencies will be attacked by this tool. Currencies will fall like dominoes. At first the dollar will strengthen, equities will fall and gold will go lower. However, soon the recognition will come that a disaster has occurred that is more serious than the Lehman flushing. Confidence in currencies will fall everywhere. Gold will then rise not to $1650 by the same time in 2011 but to $5000 and perhaps beyond.

Either way both paved the road to a single virtual reserve currency and a single Central Bank (IMF) of Central Banks.

If Greece is bailed out it will take longer for the establishment of the single virtual reserve currency. If Greece is flushed it will happen so fast you will lose your breathe.

March 3, 2010 | Unregistered CommenterGold Prices

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