Sinclair – This Is The Beginning Of The End For The Gold Shorts
KingWorldNews.com
April 25, 2013
Today legendary trader Jim Sinclair told King World News that, despite the volatility, what we are witnessing is the beginning of the end for the gold shorts. 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 tremendous interview.
Sinclair: “I think it’s critically important for investors to realize that the COMEX warehouse is not going to wait for significant further declines in their inventories before they adjust their settlement mechanism.
Yesterday we pointed out that during the Hunt crisis there was this type of adjustment made by the COMEX Board of Directors. We also quite clearly demonstrated that there is a strong correlation between the present lack of supply in the gold market and what happened back in 1980.
So any further significant drawdowns on the COMEX warehouse are going to cause to the COMEX go to a new type of settlement….
The Rest…HERE
