Eric King:  “Jim, we now know the answer to the ‘Cyprus Solution.’”

Sinclair:  “Yes, Cyprus depositors have now been flushed.  The Bank of Cyprus, the island’s largest bank said it has converted 37.5% of deposits exceeding 100,000 euros into a Class A share, with an additional 22.5% held as a buffer for possible conversion in the future.

Another 30% will be temporarily frozen and held as a deposit.  So the amount of money that has been taken from the Cyprus depositors is in all practicality almost their entire accounts.  Major depositors funds have now been taken in grand style.

Depositors everywhere are now defined as lenders to the banks.  Today is a day of financial infamy.  History will see this event as serious as the flushing of Lehman Brothers....

Continue reading the Jim Sinclair interview below...  


To hear the man with over 40 years of experience in the resource

markets and how he is positioning his clients to weather

the current financial storm click on the logo:

“Lehman Brothers was flushed to create a flow of huge funds into the financial system.

The flushing of Cyprus was done to steal massive funds from depositors.  The major percentage of their funds taken were replaced by worthless stock in a bankrupt bank.  Up to now everything in Cyprus was speculation as no definitive action had taken place.  Now it has.

Are you a depositor in your bank?  Then know you are now lending your money to that bank with virtually no return.  So the bank earns big money and you get none of it, but assume all of the risk.  If the bank goes broke because of their criminal activities, you lose your money.

They’ve taken an accounting title of ‘unsecured creditor,’ and now converted that, in the elites’ best interest, to ‘lender,’ for which there is no supporting case law whatsoever.  Get out of the system now or you will pay the penalty.  Depositors everywhere will have their money stolen at some point.

Gold is for saving.  Gold producers with low cost and low overhead are the only holders of the new supply of physical gold.  The price of gold will not only reach our original target of $3,500, but it will greatly exceed that level as the fires that are burning in the financial world turn now into an inferno, but physical gold will allow you to survive the massive blaze and financial destruction.”

***IMPORTANT - Amazingly, late last night Jim Sinclair had just warned KWN readers around the world that the elites had planned financial chaos to control the masses.  To read that remarkable interview CLICK 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 audio interviews with Eric Sprott, Egon von Greyerz, Gerald Celente, Andrew Maguire, William Kaye, Rick Rule, Nigel Farage, Dr. Paul Craig Roberts, John Embry and Art Cashin are available now.  Also, be sure to hear the other recent KWN interviews which include John Mauldin, Marc Faber and Felix Zulauf by CLICKING HERE.

Eric King

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