Bob Chapman : the main point they are after is cutting back social security and medicare which the Americans have paid for , the money as stolen , by creating this special committee they want to bypass the congress , regarding the debt rating , they could have degraded it 15 years ago , they control the rating agencies , they wanted to correct the market they thought it is the right time , the main reason for reducing the rating is to have an excuse for doing a QE3 ,
Jim Sinclair interviewed by James Turk - August 5 2011 at the GATA conference in London Jim Sinclair : credit has gone wild and it is coming home to roast , the reserve currency is broke it will transmit its problems throughout the western world , it is an entire western world currency problem that is endemic because of the dollar which transmitted the problems of debt not simply to the US but to the rest of the world and they all went nutts on the derivatives , it is human nature to the extreme , it is GREED , who needs enemies for the financial leadership we have ?! the ultimate protection for you is be your own central bank you'd rather own gold than reserve currency dollars ,
Bob Chapman : Gold is doing what it should do , you can see they intervened between 1715 and 1750 dollars to try to keep it down I do not think they are going to be successful , Silver is another story , HSBC are as short as they have ever been now they are going to be shorter than they have ever been before , people got to understand that you are dealing with a criminal syndicate these people are worse than the mafia much worse , we are looking at QE3 , the inflation by the end of this year would be probably in the vicinity of 14 percent next year because of QE2 and Stimulus 2 because it takes that long to go into the system it would be probably 25 to 30 percent if they do Qe3 they have do about 2.3 trillion and if I am right about that you are looking about 50 percent , that's Hyperinflation , they will take it as far as they could until people will stop accepting money and they will start trading in gold and silver bullion and I think that what it will come to . , I think they are preparing for a major World War III , Only 8th tenth of one percent of Americans own Gold and Silver coins shares and bullion , that figure will reach about 15 percent like it did in 1980 , it will come to a situation where the tender will be gold and silver bullion ,
