Sinclair - Swiss Bank Just Refused To Give My Friend His Gold Monday, April 22, 2013 11:07 PM
From: "Jim Sinclair's JSMineset" <information@jsmineset.com>

My Dear Extended Family,

Courtesy of KingWorldNews.com

Today legendary trader Jim Sinclair stunned King World News when he revealed that a dear friend of his who is very affluent just had a Swiss bank refuse to return his large hoard of gold when he asked for it out of an allocated account. 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 in this remarkable and candid interview.

Eric King: "Maguire spoke on KWN yesterday about the fact that one of his clients went to the LBMA to get the metal from them and could not get it. They told him he would be cash settled. This is what you have been talking about is the failure of the physical markets."

Sinclair: "A person that I know with significant deposits in one of the primary Swiss banks, in allocated gold, wanted to take out his gold and was just refused on the basis of directives from the central bank....

“They told him the amount was in excess of 200,000 Swiss francs and the central bank had instructed them not to do it because it has to do with anti-terrorism and anti-money laundering precautions.

I really wonder whether those are precautions or whether the gold simply isn’t there. Now you tell me that a London delivery has basically failed. It has to raise our suspicions that the lack of physical gold behind the paper gold is literally so severe that we are

coming to understand that it is in fact not there.

The gold that people think is stored is not stored, and the inventory of the warehouses for exchanges may not be holding deliverable gold.

There has always been speculation about whether or not the physical gold the US claims to store is in fact in those vaults.

The greatest train robbery in history might be all of the gold, and it would only be something like we have described above that would happen right before gold makes historic highs.

There simply is no gold behind the paper. One example is AMRO, a second is your example with Maguire, and a third is my dear friend who was refused his gold on the basis that its value was too high. Remember this friend of mine had his gold in an allocated account in storage at a major Swiss bank. I repeat, there is no gold.”

Eric King: “Jim, when I listen to what you are saying, to what Maguire is saying, it really does tell me we are at the end game in terms of the paper market. It’s collapsing right now as you have been warning.”

Sinclair: “The vicious and blatant manipulation of the gold price (lower) via paper, on Friday and on Monday, may very well be the biggest mistake that the manipulators ever conceived of. I firmly believe it revealed that the price of gold has nothing to do with gold itself.

But I would add that if in fact the physical demand remains at these levels or even increases as the price of gold rises, I believe that the warehouses for the exchanges will be so significantly drawn down that it will force cash settlement.

The bottom line here is the paper market for gold may have just lit itself on fire, and served to burn the manipulators’ houses to the ground. You’ve heard of the phrase, ‘The emperor has no clothes.’ Well, this is infinitely worse because it is finally being revealed

that the paper market for gold, in fact, has no gold.”

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The audio interviews with Andrew Maguire, William Kaye, Rick Rule, Nigel Farage, Gerald Celente, Dr. Paul Craig Roberts, John Embry, Art Cashin, John Mauldin and Egon von Greyerz are available now. Also, be sure to hear the other recent KWN interviews which include Eric Sprott, Marc Faber and Felix Zulauf by CLICKING HERE.

Eric King
KingWorldNews.com
Original at:
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Ed's comment:

Make withdrawals in piddly amounts OR threaten terrorism to get what is really yours, Lol.

The pressure is rising in the cooker. When she blows no one knows. Ed.