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Jim Sinclair continues:


“It’s a formidable challenge (keeping gold below $1,800).  The true range of gold is $1,700 to $2,111, but these guys are going to try to fight it like nobody’s business.  Do you think for a moment they are not listening to you and I speaking right now?  Forget it, Eric, we are the morning ‘Squawk Box’ tomorrow.


Now comes the payback.  The hope and desire that things would improve is ignorant because of the fact that the trillions which have come in have been to save the financial organizations, not Main Street....  


Continue reading the Jim Sinclair interview below...




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“The $17 trillion that came into the system, in total, has gone into the hands of the winners on the derivatives.  The flushing of Lehman made that a necessity.  Those people with the money are not lenders.  I would say that sitting in front of Goldman Sachs with a tin cup would not get you too far. 


They don’t have a mindset for building.  They have a mindset to reward destruction.  So what you are seeing is the effect of simply putting money into a system, to fill a dark hole, out of which the money doesn’t come.  


It doesn’t fund the ability to lend.  And truth be known, because of FASB allowing the financial organizations, in the US, to value their over the counter derivatives at any value they choose to use, the balance sheets of the lending institutions are cartoons.  


To expect that cartoon to resuscitate a housing market or to invest in business and have a significant impact on improving employment, you are out of your mind.  It’s like the Grinch is going to come and lend.  It’s not going to happen.


Once you start quantitative easing, such as we have, $17 trillion, how in the world do you pull back from it?  How do you stop without having everything collapse behind you?  Truth be known, Bernanke didn’t have a choice.  If Bernanke did not do QE, this place would look like the day after (the movie) ‘Mad Max.’ 


I don’t support QE as being right, but I do understand its necessity.  QE to infinity.  If we’ve done over $17 trillion already, do you think we won’t do another $17 trillion?  Of course we will.  Denying it all the way, until the day.  And when the day comes, QE will follow.”


When asked how he knew there would be ‘QE to infinity,’ before anyone else, Sinclair responded, “How does anyone know an answer to a question?  By being told.  By having sources.  I’m half a century in the business.  I’ve constantly kept up my contacts in a very unique and focused way.  Quantitative easing was made clear to me, prior to Bernanke’s speech to the Washington group, prior to quantitative easing.


This interview was Jim Sinclair discussing gold at length and laying out exactly what KWN listeners should expect going forward.  The extraordinary KWN interview with Jim Sinclair is available now 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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