Physical market has smashed gold paper, Sinclair tells King World News
Submitted by cpowell on 06:46PM ET Thursday, May 6, 2010. Section: Daily Dispatches
9:40p ET Thursday, May 6, 2010

Dear Friend of GATA and Gold:

Eric King of King World News today got a most incisive 12-minute interview out of Jim Sinclair, proprietor of JSMineSet.com, and America’s "Mister Gold," in which Sinclair remarked, among other things:

– Physical demand for gold has overwhelmed paper gold selling five times in the last two weeks and the cash market will run the gold market
– Gold is now the leading currency.
– While the bankruptcy of Greece is convulsing the financial markets, the bankruptcy of California is four times worse.
– All states and nations will be bailed out by central banks with "qualitative easing to infinity."
– The continuing pessimism about gold’s prospects is a guarantee of higher prices.
– The decline of currencies may produce a "Weimar effect" on equities, pushing them up.
– Confidence in government currencies can evaporate overnight.

You can find the interview with Sinclair at the King World News Internet site here:

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/5/6_Ji…