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