Monday, January 26, 2009

Jim Sinclair's comments from today

JS MineSet

From Jim:
Dear Comrades In Golden Arms,

The day in 2009 that insolvency comes in the planetary form, you can be sure of only one thing: You will not know it.

Your government, whomever they are, will keep the collapse a total secret until you are completely wiped out by hyper-inflation and/or insolvency of your retirement plan.

You cannot trade your way to insurance. That concept is egomaniacal and downright stupid.

Own gold and gold shares or you will be the victim of your government and the media's feeling that you are:

Narrow escape: The Bank of England was forced to contact RBS's creditors abroad to persuade them not to withdraw their funds


Revealed: Day the banks were just three hours from collapse
By Glen Owen - Last updated at 11:21 PM on 24th January 2009

Britain was just three hours away from going bust last year after a secret run on the banks, one of Gordon Brown's Ministers has revealed.

City Minister Paul Myners disclosed that on Friday, October 10, the country was 'very close' to a complete banking collapse after 'major depositors' attempted to withdraw their money en masse.

The Mail on Sunday has been told that the Treasury was preparing for the banks to shut their doors to all customers, terminate electronic transfers and even block hole-in-the-wall cash withdrawals.

Only frantic behind-the-scenes efforts averted financial meltdown.

If the moves had failed, Mr Brown would have been forced to announce that the Government was nationalising the entire financial system and guaranteeing all deposits.

But 60-year-old Lord Myners was accused last night of being 'completely irresponsible' for admitting the scale of the crisis while the recession was still deepening and major institutions such as Barclays remain under intense pressure.

More from the UK's Dailymail

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