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US declares electronic war on Iran with Swift action says gold bug Jim Sinclair

Posted on 28 March 2012 with 1 comment from readers

By shutting Iran out of the Swift electronic money transfer system the US is declaring electronic war on Iran, according to the most senior gold bug Jim Sinclair. He told King World News that gold has taken a major step towards becoming the currency of choice when it comes to international trade.

He believes the US has launched an economic war against key Asian countries and it is having an immediate impact on the gold market: ‘Wall Street goes to war and the weapon is money. There was a day when we went to war and the weapon was an armada of ships. It was landing on Iwo Jima, mano y mano, it was bravery and honor. Today it’s dollars.’

‘We go to war, challenging the other side to do the same because whatever you use as a weapon, the other side is going to tend to use as a weapon. The weapon that’s being used is the interbank transfer system, the way money is sent from bank to bank.

Ban on Iran

‘We’ve already seen that Iran has been basically shut out of the Swift system and the Swift system is what this is all about. The Swift system doesn’t take any money for the money that goes through it. The Swift system is like the old telephone company. What it does is charge for the use of its communication.

Believe me the Swift system works for the West. It’s located in Belgium and you would think the US had no power on it. It’s never discussed as being a US arm, but it is a US weapon. But we’ve already taken Iran and put a big X on it.’

Sinclair reckons interfering with the dollar’s role as the currency of global trade will ultimately weaken the dollar and encourage the use of rival currencies, including gold. Iran is already using gold in certain transactions as the flow of dollars is denied.

He reckons this is a profoundly dangerous move and that using the dollar as a weapon of war will only accelerate its decline and the rise of gold.

(Listen to the interview here)

Posted on 28 March 2012 Categories: Gold & Silver, Investment Gurus

1 Comment posted by readers:

Comment by obewon - 29 March 2012

It is true that the US government has launched an economic war against other countries, but these so-called “enemies” are not just against Asian countries . . . it’s a despicable war against ANY COUNTRY that dares to disagree with US policy (including the perpetual use of petrodollars).

Countries like China, Iraq and Iran are the among the very few who have stood up to American imperialism. What right does the US have to interfere with trade between China & Iran, or trade between India and Iran? Did the global King die, and leave the US as the sole Judge and Jury? India should grow some cajones, and tell the US where to shove it.

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