Courtesy of KingWorldNews.com
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.
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….