One Of Legendary Jim Sinclair’s Boldest Predictions Ever

March 14, 2013

Today legendary Jim Sinclair made one of his boldest predictions ever regarding the gold market when he spoke with King World News. Also, Egon von Greyerz, who is founder of Matterhorn Asset Management, told KWN that central banks “... are creating the most ideal conditions for the biggest bull market ever in gold.” We will get to Sinclair’s bold prediction, but first here is what Greyerz had to say in his remarkable interview: “Debt is going up everywhere. Central banks are printing unlimited amounts. They’ve gone from $2 trillion to $12 trillion if you take all of the central banks’ balance sheets in the last 10 years. $10 trillion has been created by central banks.”

“Government borrowing is growing in all major economies. Not only is government debt exploding, but in the US there is the illusion that corporate balance sheets are very strong. Well, as a matter of fact US corporate debt is at an all-time high. It’s at 80% of GDP.

That’s the highest ever....

“Consumer debt is rising too. In the meantime, respected economists around the world argue for more money printing. This week in the Financial Times, Martin Wolf said that Cameron was wrong with austerity. Wolf said, ‘There is a money tree, it’s called the Bank of England.’

He is saying that the Bank of England could print unlimited amounts of money or ‘grow money’ as he calls it. So what chance does the world have when top economists believe the world can prosper with printed money? Printed money only adds to misery and creates no wealth.

But these economists are right that there will be unlimited money printing. The Bank of England, Fed, ECB, will act as if money grows on trees. But an economy doesn’t prosper in real terms through borrowing and money printing, only through saving and investing. But nobody is saving today in the US, Europe, or in Japan. Therefore, we will not see real growth.

So what is happening now is that central banks around the world, through their money printing, are creating the most ideal conditions for the biggest bull market ever in gold, and we are just at the very beginning of that.”

King World News also spoke briefly with legendary trader Jim Sinclair, who emphatically stated, “Gold is about to take out $1,600.” Sinclair then boldly predicted, “We may never see that $1,600 level ever again.” If that prediction from Sinclair turns out to be true it will go down as one of his greatest calls in history.

The extroardinary audio interview with Egon von Greyerz will be available later today and you can listen to it by href="http://www.jsmineset.com/2013/03/14/details-confirmed-for-new-york-qa-meeting/">CLICK HERE.

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