We are Way Over the Edge Right Now

Greg Hunter
USA Watchdog

Last Friday, I wrote a piece called Could America be Pushed over the Economic Edge?It was about how Libya, Japan or even covert economic warfare (from America’s enemies) could push the U.S. into another financial meltdown.  I received a one sentence email from my friend Jim Sinclair that said, “We are way over the edge right now.” His message sent chills down my spine. Mr. Sinclair is a world renowned gold expert, but in order to trade that market, you must be extremely knowledgeable in many aspects of economics and politics.  Almost everything affects the price of gold.  War, government, oil, debt, money creation, the Fed and many other variables can dictate how much the yellow metal costs.  Gold is probably the single most difficult market to trade, and Sinclair is the Yoda of the gold traders (except much better looking.)

Last week on his website JSMineset.com, Mr. Sinclair outlined “why” we are already way over the edge right now and why gold is going much higher in price.  Here are a few of his reasons that I picked out from his bullet pointed post:  “You must realize that the economic and political damage is already done.  You must realize that the mountain of OTC derivative paper is not going away. . . . You must realize that this means the mountain of OTC derivative weapons of mass financial destruction can only grow. . . .You must realize that it is not whether or not QE will continue, it is what it already has done to the Western economies that much higher gold prices will reflect. . . .You must realize the monumental change in the Middle East is NOT positive for the West in any manner, shape or form. . . . You must realize that it is the currency that breaks, not the country.” (Click here for the entire Jim Sinclair post.)

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