Courtesy of KingWorldNews.com
Today legendary trader Jim Sinclair warned King World News that Putin’s decisive victory in Cyprus over the IMF has left the IMF one misstep away from destabilizing and creating massive bank runs throughout the entire Western world. Sinclair, who was once called on by former Fed Chairman Paul Volcker to assist during a Wall Street crisis, had this to say in this extraordinary and exclusive KWN interview:
Sinclair: “The concept that our financial leaders are in some sense geniuses that foresee the future and calculate every move based on their ability to divine what will be the result of their actions, is absolutely false. The IMF made a massive mistake here.
The IMF has now put itself into a very difficult position. The IMF must now support Cyprus, even in the face of the rejection of the attempted confiscation of partial bank deposits, or let the Cyprus banking system seek its own solutions to its banking problems, which would be Russian Corporations, or Russia itself.
If Russia was to save the Cyprus banking institutions, then, basically, a sovereign nation has trumped the IMF….