- Sinclair – Cyprus & Why MSM Is Being Used To Frighten People!
Today Jim Sinclair spoke with King World News about the ongoing crisis in Cyprus and the reason why the mainstream media is now being used to frighten people. Below is what Sinclair, who was once called on by former Fed Chairman Paul Volcker to assist during a Wall Street crisis, had to say.
Eric King: “Jim, we just had the piece from Switzerland discussing US money velocity on KWN and how it is at the lowest level in 50 years.”
Sinclair: “That is a fact. The velocity of money is at an all-time low in recent history. The general interpretation is that in order to have inflation you need to have the velocity of money sharply accelerating, and that very low levels of velocity of money without any periods of even modest improvement is the definition of a deflationary environment. The greatest enemy that now exists of the multi-trillion dollar efforts to resuscitate the world economy is the terrible “D” word (Depression)….
Eric King: “Jim, It seems like what you are saying is the mainstream media is
going to be used going forward to increase the velocity of money by scaring the
hell out of people.”
Sinclair: “Yes. I think what we have seen so far is just the beginning of the use of MSM to frighten money out of savings and into the economy. … I now believe that going forward the velocity of money will be made to increase, either by loss of confidence, or through the fear being generated by the mainstream media regarding the safety of leaving money in banks and other financial institutions.”