Sinclair – Historic Events Are Unfolding Right Now
March 25, 2013
Today Jim Sinclair spoke with King World News about the historic events which are taking place, the unfolding drama in Cyprus, and bank runs in Europe. 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.
Eric King: “Jim, this is a quote from your March 20th KWN interview”:
“Cyprus cannot, will not, absolutely must not leave the euro. They know that quite well. So the break of the euro market down into the 1.28 area must have sent shock waves through decision-makers in euro land. Cyprus must be rescued because they cannot be allowed to leave the euro.”
Again, you said that 5 days ago and that was incredibly accurate.”
Sinclair: “Clearly Cyprus remains within the euro. That is a victory for the euro, not a defeat. What it means is Cyprus’ threat to leave the euro was the effective tool to bring what is now the heads of an agreement, but not particulars, whereby Cyprus remains in the euro.
But going forward, selective banks can go broke and remain so….