Tuesday, October 7, 2008
JIM SINCLAIR...THIS IS IT...TIME HAS RUN OUT...PROTECT YOURSELF NOW, OR LOSE IT ALL!
The Federal OTC Derivative Dealers Author: Jim Sinclair Dear Friends, Please understand that the Fed reacts to circumstances rather than acting before potential problems happen. If the Fed hadn't taken the rather strange action they took today by becoming OTC derivative dealers themselves this would have been the day the USA banking system imploded. Watch Libor rates to signal the point of detonation. Circumstances appear as if there were many problem Angels dancing on top of a pin that is being balanced on the nose of just those people who created the problem in the first place. An implosion of the banking system is coming, which means a bank holiday will occur. You now must have enough cash in hand to last a month or two. If you have not distanced yourself from financial agents then you have a financial death wish. If you have NOT made absolutely sure that your custodian account is a real custodial- ship you are probably in for a surprise. I took a call yesterday from a mature lady who told me she feels her money market fund that is only in Treasuries will not pay her out. They did tell her they intend to in seven days. I asked her to call me back in eight days. How does she know that this money market fund is not in OTC derivatives based on the movement of Treasuries? I do not want you to make that call to me. If you can retire from your retirement program at some reasonable discount do it NOW. This is it and it is NOW. Gold is going to $1200 and $1650. The US dollar rally has NO fundamental legs. Why are so many of you sitting there like a deer caught in the headlights? Protect yourself and do it TODAY! Respectfully, Jim