King World News
March 26, 2012
Today legendary trader and investor Jim Sinclair told King World News that gold has taken a major step towards becoming the currency of choice when it comes to international trade. Sinclair also said the US has launched an economic war against key Asian countries and it is having an immediate impact on the gold market. Here is what Sinclair had to say about the situation: “Wall Street goes to war and the weapon is money. There was a day when we went to war and the weapon was an armada of ships. It was landing on Iwo Jima, mano y mano, it was bravery and honor. Today it’s dollars.”
Jim Sinclair continues:
“We go to war, challenging the other side to do the same because whatever you use as a weapon, the other side is going to tend to use as a weapon. The weapon that’s being used is the interbank transfer system, the way money is sent from bank to bank.
We’ve already seen that Iran has been basically shut out of the SWIFT system and the SWIFT system is what this is all about. The SWIFT system doesn’t take any money for the money that goes through it. The SWIFT system is like the old telephone company. What it does is charge for the use of its communication.
Believe me the SWIFT system works for the West. It’s located in Belgium and you would think the US had no power on it. It’s never discussed as being a US arm, but it is a US weapon.
But we’ve already taken Iran and put a big X on it….