Jim Sinclair: Cyprus & Why MSM Is Being Used To Frighten PeopleSubmitted by Apple on Wed, 03/27/2013 - 21:30
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. This is particularly true when you look at the incorrect reporting of what the Dutch Finance Minister supposedly said.
The velocity of money has been the biggest drag in terms of creating any significant recovery. So the velocity of money has now been targeted, and it is to be increased through the use of fear in the mainstream media regarding confiscation of money in financial institutions.
KWN releasing the piece covering the fact that the velocity of money in the US is at 50 year lows could not have been timed any better. 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.”
Sinclair also had this to say regarding gold: “Right now the price in the market for gold is clearly not being made by the paper guys. The price of gold is now being made by the physical buyers, and that is a quantum leap in change in the character of the gold market to the degree that I haven’t seen since 1979. Of course the world witnessed a massive rise in the price of gold when that took place. History is about to repeat. I would also add that as we see an increase which I have described in the velocity of money, that is also extraordinarily bullish for going going forward.”