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Jim Sinclair: “Gold is about to take out $1,600.” Sinclair then boldly predicted, “We may never see that $1,600 level ever again.”


from KWN:

Today legendary Jim Sinclair made one of his boldest predictions ever regarding the gold market when he spoke with King World News.  Also, Egon von Greyerz, who is founder of Matterhorn Asset Management, told KWN that central banks “… are creating the most ideal conditions for the biggest bull market ever in gold.”  We will get to Sinclair’s bold prediction, but first here is what Greyerz had to say in his remarkable interview:  “Debt is going up everywhere.  Central banks are printing unlimited amounts.  They’ve gone from $2 trillion to $12 trillion if you take all of the central banks’ balance sheets in the last 10 years.  $10 trillion has been created by central banks.”

Egon von Greyerz continues:

 

“Government borrowing is growing in all major economies.  Not only is government debt exploding, but in the US there is the illusion that corporate balance sheets are very strong.  Well, as a matter of fact US corporate debt is at an all-time high.  It’s at 80% of GDP.

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