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Jim Sinclair and John Kim: Crippling the world economy saved the financial system
2:27p ET Monday, May 11, 2020
Dear Friend of GATA and Gold:
Two of the gold sector's top minds, mining entrepreneur Jim Sinclair and financial analyst John Kim, today make similarly unorthodox observations about the financial markets and the worldwide virus epidemic.
In an interview with Greg Hunter's USAWatchdog, Sinclair says the arrival of the epidemic was "fortuitous" for averting a worldwide economic collapse that was about to be caused by rising interest rates. The epidemic, Sinclair says, caused governments to shut down most of their economies and thereby slashed business demand for money and kept rates down.
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Kim writes that interest rates had to be cut worldwide to prevent default of over-the-counter interest-rate derivatives, which would have collapsed major financial institutions. With rates already at zero, Kim writes, the only way to prevent debt derivative defaults was to suppress rates by crippling economies. Kim goes farther than Sinclair, suspecting that protecting the interest-rate derivatives and the banks holding them by crippling the world economy was the real purpose of quarantining whole populations, not protecting those populations against the virus.
Sinclair's interview with USAWatchdog also covers his expectations for the course of an international monetary reset in which upward revaluation of gold will offset sovereign debts and restore currency values. The interview is 58 minutes long and can be viewed at YouTube here:
https://www.youtube.com/watch?v=RDZQoQ61RrY&feature=emb_title
Kim's observations are made in an essay headlined "Connecting the Global Pandemic Lockdowns and Wealth Preservation for the 1%" and it's posted at his internet site here:
https://maalamalama.com/wordpress/connecting-the-global-pandemic-lockdow...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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