Legendary gold trader Jim Sinclair has turned his sights from warning investors to protect themselves with gold to urgently warning them to exit the financial system immediately, and take possession of physical gold held in your own possession. Sinclair, who Friday warned investors that the US will be Cyprus’d and gold will reach $50,000/oz sent an email alert to subscribers Monday night warning that merely owning gold and storing is not enough, and that:
How you own and store becomes of critical and possibly terminal importance. Investors with significant deposits at in the system banks and brokers are in the dead center of harm’s way. Retirement accounts are also in the cross hairs of central planners.
Sinclair urges readers not to become a casualty of the central planners via the coming bail-in deposit confiscations, but to protect yourself by owning physical gold held outside of the financial system.
Sinclair’s full alert is below: [Read more...]