Today legendary trader Jim Sinclair warned King World News that investors should brace themselves and expect to see unprecedented financial destruction going forward as the gold war continues to rage on both sides of the Atlantic. 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 in this remarkable interview.
Sinclair: “The worst thing they (central planners) could have done was to smash the paper gold price down into an unprecedented bull market for physical. Should it ever occur again, the results will be the same. What this has done for the keen observers is to reveal how the future mechanism for gold price discovery will in fact be set.
This initiative by the gold banks, who are both members and directors of the COMEX, insures that the COMEX will lose its position in terms of price discovery for gold….