Jim Sinclair on the Cyprus Bank Hoist

Jim Sinclair gave a question and answer time in New York and much of it to do with the Cyprus bank hoist.    He was of the opinion that while ever money is being printed then gold and silver will continue to rise.   He also was of the view that the up to 10% “Tax” on bank deposits in Cyprus will have ramifications throughout Europe with runs of varying degrees on banks leading to big precious metal purchases.   He said people should look after their own super and of course he used their terminology but he pointed out we really need to take control for our future and understand that the corruption in the financial markets is rife.

He spoke of the manipulation of the precious metal markets and if he was in  Australia he would have said a Drovers Dog should be able to see that.    Amongst other comments and without making this a lengthy read he spoke of hyperinflation really coming and his usual predictions for a large rise in both Gold and Silver helped by in his opinion of China having 15 % of their reserves in Gold is approaching fast.

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