quote from kingworld news
Today Jim Sinclair spoke with King World News about the ongoing crisis in Cyprus and the reason why the mainstream media is now being used to frighten people. 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.
Eric King: “Jim, we just had the piece from Switzerland discussing US money velocity on KWN and how it is at the lowest level in 50 years.”
Sinclair: “That is a fact. The velocity of money is at an all-time low in recent history. The general interpretation is that in order to have inflation you need to have the velocity of money sharply accelerating, and that very low levels of velocity of money without any periods of even modest improvement is the definition of a deflationary environment.
Eric King: “Jim, It seems like what you are saying is the mainstream media is going to be used going forward to increase the velocity of money by scaring the hell out of people.”
Sinclair: “Yes. I think what we have seen so far is just the beginning of the use of MSM to frighten money out of savings and into the economy. This is particularly true when you look at the incorrect reporting of what the Dutch Finance Minister supposedly said.
The velocity of money has been the biggest drag in terms of creating any significant recovery. So the velocity of money has now been targeted, and it is to be increased through the use of fear in the mainstream media regarding confiscation of money in financial institutions.
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