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Eric King:  “Richard Russell talks about the Fed and Western central planners fighting against the primary trend in an attempt to stave off what should be a depressionary cycle.  Can you talk about their fight against that?”


Sinclair:  “The fight against that is basically a management of perspective economics.  The thesis that you can convince the public that everything is going to be fine, if you convince the public via the Dow Jones Industrial Indices at new highs, and mainstream media stories about the wonderful new housing market, about the great recovery in employment, the great future that we are looking at, and actually get them to believe it, the thesis would then say that you could prevent the recessionary and possibly depressionary pressures.


That’s basically saying there is no economic law.  Economic law is only in the mind of a couple of Austrians, and they are wrong.  But the problem is they (the Austrian economists) are right.  There is economic law.  There are consequences....


Continue reading the Jim Sinclair interview below...  




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“Consequences will come from the outrageous expansion of debt monetization called ‘quantitative easing.’  And there is no way that is just going to self-correct through an ebullient world economy.


The belief that exists now with the central planners, and the belief that exists now with the major influences in the market is that you can, through maintaining the perspective of wealth, offset and cancel economic law.  Economic law is not cancelable.  It can be delayed, but the consequences cannot be stopped.


Gold and silver are basically revolving around the central sun, if you will, in the universe of debt.  The over-the-counter derivatives from 1991 forward, these are special performance contracts.  There is no way to clear them.  They are still out there and their value is not $600 trillion, but over $1 quadrillion that the BIS in fact published. Then they (the BIS) had a panic and changed their method of valuation to maturity.  That’s assuming that all of these things would mature which is ludicrous.


This is all going to come home, and it’s coming home in 2013.  We already set the low in gold.  We are now on our way to $3,500.  The opinions that gold and silver are going significantly lower are not correct.  There have never been more signs of a bottom in a market than you see presently.


The largest egos developed in the greatest of all hedge funds and even groups of hedge funds that might make themselves look like the Federal Reserve are chicken feed compared to the Russian Central Bank or the Bank of China -- that can create any degree of liquidity themselves and buy gold on a continuing basis if in fact motivated to do so.  Right now they are the major buyers on the reaction.  Right now they are the ones who have caused the decline to end.


There has never been a time where there has been such a degree of bearishness, and the greatest bearishness being into the gold shares themselves.  Looking back in history, this must be the greatest opportunity that exists in this market between now and 2015 to 2017.”


Sinclair also added:  “Gold and silver fully paid for represent a sounder form of currency, especially gold, than any piece of paper with a promise to pay, which is basically a debt.  Fully paid for is the only insurance that you can have against the things you can’t control.”


IMPORTANT - This is Part II of a two part written interview series which KWN has released today with Sinclair.  The above portion was just small part of the incredible audio interview with the legendary trader.  The audio interview is available now and you can listen to it by CLICKING HERE.


© 2013 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.


The interviews with James Turk, Jim Sinclair, John Embry, Gerald Celente, Dr. Stephen Leeb, Rick Rule, Ben Davies, Andrew Maguire and Marc Faber are available now.  Also, be sure to listen to the other recent KWN interviews which included Egon von Greyerz, Felix Zulauf, Eric Sprott and Art Cashin by CLICKING HERE.


Eric King

KingWorldNews.com

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