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Jim Sinclair continues:


“(There is) surprise when they find out it’s in a cellar of the New York Fed, in Manhattan Island.  There’s a desire for gold to have more of a national scent to it as it becomes the only performing asset for the central banks.”  When asked about Europeans wanting their gold brought back to their respective countries, Sinclair responded, “You’re starting to see that, and you have also seen, from the figures, the central banks accumulating. 


The Fed would have no legal basis, whatsoever, to refuse to deliver it (to Europe).  Any refusal or even delay in delivering it would only cause requests for more.  So I would say there would be a lot of back-channel arm-twisting not to ask for it.  A run begins slow and historically, if this is a trend.  Rather than decelerating it tends to accelerate. 


I would say that when we go to QE3, in the US in 2012, that could accelerate the call for delivery on gold from the New York Fed.  It’s exactly what will happen.  You see it already in the European press.  Accepted media, which is main media over there (in Europe), is discussing it....


Continue reading the Jim Sinclair interview below...




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“That begins to show something that has a great deal more to it than the political motivation of (Venezuela President Hugo) Chavez, who knows very well that leaving his gold with people he calls ‘enemy’ is not the brightest idea in the world.  The New York Fed will give back the gold because of the ramifications of not doing it.”


When asked about the calls to provide liquidity to the financial system, Sinclair responded, “We live in a global world, transferred into a global economy, and the only central bank able to create that kind of volume of money, out of thin air, legally, is the New York Fed.  QE3 will be global and the Fed is the lender of last resort, not only to its members and the national banking community, but to the entire Western world.


Gold’s bull market in 2012 is a guaranteed event as a product of the fact that central banks have no tool in their tool box other than moving, now, from national to global QE.  It’s a done deal.”


This was an important interview from Sinclair.  It will be interesting to see how things unfold when European nations begin asking for their gold to be shipped back to them.  The KWN audio interview with Jim Sinclair is now available and you can listen to it by CLICKING HERE.


© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.


Eric King

KingWorldNews.com

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