The Economy: "Plunge Protection Team Losing Control of Markets- Jim Sinclair'
Wednesday, August 26, 2015 19:33
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“Plunge Protection Team Losing Control of Markets- Jim Sinclair”
By Greg Hunter’s USAWatchdog.com
“Legendary gold expert Jim Sinclair says what is going on right now in the stock market is just the warm-up act. Sinclair contends, “This is a pre-crash, and we are not making it through September without the real thing.
Everybody is on credit. Main Street is on credit. This seems to be a bubble of historical proportion when it comes to the amount of money supporting the accepted lifestyles as being the new normal.
Raising interest rates is impossible today.
The market is so fragile. Nothing can come out that causes people any concern or derivatives any change, nothing whatsoever.
We are going through a period of time where expecting nothing meaningful is a dream. These are times never experienced in financial history.
It is very possible that we are going to have a super civilization change. ”
The US Plunge Protection Team is losing control of the markets, and Sinclair warns, “They got the dickens scared out of them. They actually backed off providing the funds necessary.
That’s your warning. The warning is markets can overrun plunge protection teams. Markets can and will overrun the manipulation of metals and currencies. The market will overrun the false strength in the US dollar.
The idea that a lift in interest rates would be beneficial to the dollar is absolutely incorrect. We do know the limits of the Plunge Protection Team, and we do know the omnipotent power of the Fed is a total fallacy.”
On gold, Sinclair says, “I didn’t call the top in gold in 1980 because of any kind of a system.
I was told, I acted on what I was told.” His sources are talking again, and Sinclair says he was told: “Number one, the downside on gold is extraordinarily limited here. Two, the rally we are facing that will come in gold is going to be stupendous.
Three, they tell me we may never call you back because this may be the rally you don’t sell. This may be the rally you don’t sell because gold is moving from a currency form to a valuation form.
This may be the last time we call you means this is a rally that is not meant to be sold. What is coming up in front of us is the Great Reset where currencies wear their gold like ladies wear a necklace, and the most beautiful necklace will be the strongest currency.
The ladies without the necklace won’t be invited to the ball. Huge changes are coming. The dollar is always going to be with us, and the yuan and all of the currencies are still going to be there.
We are not going to one single currency. The SDR (Special Drawing Rights) is nothing more than a glorified index of currencies. It’s a cure to nothing. How can a package of junk cure the problem of junk? It can’t. The two last men standing will be gold and gold on steroids—silver.”
Sinclair stands by his prediction last year of an eventual gold price of $50,000 per ounce. Sinclair explains, “You have to understand we are going into unprecedented deflation, and it’s the reaction of central banks around the world to the concept of deflation that brings about hyperinflation.
There will be debt monetization of all kinds of debt to maintain some sort of equilibrium. The price of gold is going to go to a level that is going to surprise everybody. I was told that this is a rally that you won’t sell.
That means gold will go to a level and not react violently down from that level. This is when gold is going to levels that today are considered more mental illness than monetary analysis.
Silver is best understood as gold on steroids because whatever potential and direction is taken up by gold, silver will be multiplied by 2 or by 5. Silver will outperform gold.” (There is much more in the video interview.)
“Join Greg Hunter as he goes One-on-One with renowned gold expert Jim Sinclair of JSMineset.com.”
- http://usawatchdog.com/
Source: http://coyoteprime-runningcauseicantfly.blogspot.com/2015/08/the-economy-plunge-protection-team.html
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“Sinclair stands by his prediction last year of an eventual gold price of $50,000 per ounce. Sinclair explains”
Yes, well since then silver has lost about $5 an ounce so that was a bit of a flash in the pan.
The printing machine at the FED will keep pumping out digits to keep the bankers in the game and they will try to off load these digits for real assets like silver/gold and they will push property taxes so high that owning property will not save you even if it’s been paid off.
Silver/Gold often follows oil thats makes up the bigest part of the production costs !
Friends keep your powder dry and wait for another $2-$3 to come off the price of silver before jumping in and hope that you don’t have to pay too much over spot and this comes to you from a fool who has been telling you for a couple of years that gold/silver was not near the bottom yet.
The jewish sodomite bum protection initiative from the hershey
push in your stool team.
qikq