Renowned gold expert Jim Sinclair says, “You have a pressure cooker bomb cooking like the terrorists use. It’s cooking, and it makes gold a storehouse of value and not a currency. It’s just a storehouse of value. It turns it into a savings account. The only one that will work. The only one without a counter-party. The only one that doesn’t need a market that can trade in physical (metal) and huge size physical. China and Russia are not buying gold as some sort of investment. They are buying it as a policy because they see clearly that is no tool left in anybody’s toolbox to fix what the geeks have done. They have killed us, and they have killed themselves. There is one fat shark out there that is now about to experience starvation.”
In closing, Sinclair says, “When it’s all said and done, there will be a catastrophic big bang, and then the only thing that will be left is your savings account. Your savings account is not silver, although it will outperform gold, your savings account is going to be gold. It’s going to happen because all currencies, even the roaring dollar, are falling in terms of being a storehouse of value. Capitalism is finished. I can’t tell you what the next system will be, but capitalism is over because the heart of capitalism is markets. Without markets, you cannot have a capitalistic system—it’s over.”
Join Greg Hunter for one of the most compelling and enlightening interviews of the year with renowned market and gold expert Jim Sinclair of JSMineset.com.
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