You are here
Cyprus destroys premise of gold shorting, Sinclair tells King World News
7:26a HKT Tuesday, March 19, 2013
Dear Friend of GATA and Gold:
The expropriation of bank depositors in Cyprus has destroyed the premise of shorting gold, gold trader and mining entrepreneur Jim Sinclair today tells King World News.
"This is the birth of a transition of the gold market to a cash market," Sinclair says. "The paper markets will now be moving toward becoming cash markets. It is the birth of an entire new era of trading in what, until now, has been a paper-dominated market for gold when it comes to setting price. This will mean the end of the manipulation of the gold market because it will become 100 percent cash. Paper, in gold, is about to exit as a business as the physical market retakes its rightful position and makes the market price in gold."
An excerpt from the interview is posted at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/18_Si...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Fred Goldstein and Tim Murphy open All Pro Gold
All-Pro Gold, run by long-time GATA supporters Fred Goldstein and Tim Murphy, offers its services to GATA supporters and anyone else interested in precious metals. The company brokers a full line of precious metals and numismatic coins. It aims to inform prospective clients about the importance of the monetary metals as part of a diversified financial portfolio and to keep prospective clients current with market trends. All-Pro Gold has competitive pricing and ships promptly to clients so they may have physical possession. Learn more by e-mailing Fred@allprogold.com or Tim@allprogold.com or telephone 1-855-377-4653 or visit www.allprogold.com.
Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:
http://www.goldrush21.com/order.html
Or by purchasing a colorful GATA T-shirt:
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
http://gata.org/node/wallstreetjournal
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
