Sinclair, Farage, Roberts – Cyprus May Dwarf 2008 Collapse
March 23, 2013
Today legendary trader Jim Sinclair told King World News why Lagarde’s IMF Cyprus disaster may cause far more damage than the frightening turmoil the world witnessed during the collapse of 2008. Sinclair, who was once called on by former Fed Chairman Paul Volcker to assist during a Wall Street crisis, was also joined in this interview by Britain’s very popular MEP Nigel Farage, and former US Treasury Official, Dr. Paul Craig Roberts.
Sinclair: “The propaganda being put out in the mainstream media is a message that things are moving along in Cyprus, and there will be a positive conclusion. The mainstream media is saying this is a banking problem of minor significance.
This is Joseph Geobbels style propaganda at its finest because Cyprus will ultimately be seen as a defining event in history. The term ‘Bail-In’ really doesn’t define what it is, which is confiscation. It’s the removal of part of your deposit.
Sure, they have agreed on everything such as currency controls because if you have a banking problem and you don’t control the flows, there is no way to be able to produce enough cash to meet the demands that would come in on a Monday morning….