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Gold/Mining/Energy : GLD

GLD 364.38

-0.7%

Oct 28 4:00 PM EDT

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From: ayn rand	5/24/2008 9:46:47 PM
	of 74

Why do unregulated derivatives present an imending crisis? Jim Sinclair, May 14, 2008: "We live in a world which is amoral and believes that there are NO consequences for any act. All that matters is profit at any cost. Profit is the only virtue. The ends qualify the means. Nothing is above them and they deserve it all, immediately. This is the perfect definition of all derivative dealers and holders. I demonstrated to you that what exists now would in fact occur now. As Volcker has said, this is like the 70s, and will be far worse if the Fed pulls away from financing everyone or if confidence in the Fed is lost because of consequences. The Fed simply cannot create this amount of liquidity without sinking the dollar. A central bank can never go broke because they have a blank check with which they can write their own capital. What a central bank can do is destroy their currency. The US dollar is going to .5200 Gold is going to $1650 All of this will occur on or before January 14th, 2011."

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