Last Updated :
09 February 2010 at 06:10 IST
Three major currencies: dollar, euro and gold
By Jim Sinclair
New York State spending is out of control. California tried to go off the dollar but the California IOU is a total failure.
There are 38 states right behind California and New York, all of which are too big to fail.
The debts of the weaker European Union states are under attack by the huge short players. In time every currency will come under attack by the same ever-growing source of wealth.
Today’s action in gold, especially before the Crimex attack and dollar linking in the inverse, has delivered me my answer.
The following is ABSOLUTELY correct, so therefore sell all currencies into strength and buy
Gold on all weakness. There is no other strategy that will survive.
This is all you need to know:
1. Bretton Woods was folded.
2. The floating exchange rate system is about to be folded.
3. By default or design we are going to a one-world currency and a one-world central bank of central banks.
4. For Portugal, Ireland, Italy, Greece or Spain to break off from the euro would be an expansion of the floating exchange rate system under present conditions.
5. There are presently 3 major currencies. That is the US dollar, the euro and gold.
6. The SDR was an attempt to form a single reserve currency that never took flight.
7. The SDR is an accounting unit made up of an index of currencies much like the USDX.
Courtesy: www.jsmineset.com
MCX ALUMINIUM 29 February 2012
contract was trading at
Rs 107.45 . What's your view on it?
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