- The Most Dangerous & Potentially Fatal Gamble In History!
Today Jim Sinclair warned King World News that what we are witnessing right now is one of the most dangerous and potentially fatal gambles in history. 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, what is your biggest takeaway at this moment in the aftermath of all of this chaos and the Cyprus banks reopening?”
Sinclair: “There is a public relations campaign that is gaining momentum in the amount of articles being published by brokerage firms, commentators, and newspapers. There is now a definite desire to communicate to the public that there may be a chink in the armor of ‘too big to fail.’
The message is that depositors may be considered as lenders, whereby their deposits will be taken in exchange for shares in the banks or financial institutions, rather than what’s happened up to now which is their deposits have been guaranteed by the bailouts. It’s a scare tactic, but it is having an impact because it’s growing….
So the catastrophic danger here is if the central planners fail they will have totally run out of tools and this thing will implode because they will have inherently weakened the banking system at the most inopportune time. This is one of the most dangerous and potentially fatal gambles in history.”