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Sinclair – The US Will Be Cyprused & We Will See $50,000 Gold

from KingWorldNews:

Today Jim Sinclair spoke with King World News about the ongoing chaos and told KWN the world is witnessing something that has never been seen in history. Sinclair also warned that “the US is going to get Cyprused.” Below is what Sinclair, who was once called on by former Fed Chairman Paul Volcker to assist during a Wall Street crisis, had to say in this remarkable and exclusive interview.

Eric King: “This was from Fed Governor Jeremy Stein’s speech, “If systemically important financial institution or SIFI, does fail, the losses would fall on its shareholders and creditors, and taxpayers would have no exposure … Perhaps more to the point for TBTF (too big to fail), if SIFI does fail, I have little doubt that private investors will, in fact, bear the losses — even if this leads to an outcome that is messier and more costly to society than we would ideally like.”

Sinclair: “What he is saying is that the potential losses are so large, and he is referring to the more than one quadrillion dollars in legacy over-the-counter market for derivatives, that nobody could create that much money.”

Jim Sinclair continues @

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4 comments to Sinclair – The US Will Be Cyprused & We Will See $50,000 Gold

  • john

    When was the last time Sinclair was right about anything?

  • Troy

    $1000 silver in the future…man, I’m a rich son of a …..

  • zensilver

    Seems a little desperate to me. He doesn’t talk about what he did when gold fell from $200 down to $100 in the 70’s. Still a gold bull, but I think my targets are much lower – somewhere $2500 to $3000 in 4 years.

  • Upstart

    This is very possible guys. You are missing the point and looking at todays ‘value’.

    You just need to consider the value of the US Dollar now against the current gold price, then consider it after a hyperinflationary event / currency collapse.

    The ‘numerical’ cost of an ounce of Gold or Silver in US Dollars all depends upon how long other nations continue to use/accept the US Dollar. It is quite possible for Gold to go to $50000 USD yet not move and stay at £1000 GBP.

    Once other nations drop the dollar the value of the dollar will be a tiny, tiny, fraction of what it is today. Therefore, priced in devalued dollars an ounce could well be $50000, however everything else will have also gone up too. In Hyperinflated Dollars Gold could be priced in the $Millions per ounce. Just look to Germany and Zimbabwe for obvious examples of this.

    No one outside government and big banks is going to get rich from this. The best we can hope for is wealth preservation. $50000 Gold is little different than todays price when $50 dollar bread and gas at $500 a gallon is factored in.

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