Jim Sinclair on the point of no return: “You can’t do the right thing politically…without creating as much harm as the problem itself”

In a new interview with the world’s foremost authority on Gold, Jim Sinclair speaks to Martin Ellis about how average folk can help prepare for the coming economic collapse.  There has been a lot of speculation about what policy should have been done or what policy should have been prevented in lieu of the 2008 economic collapse.  The two camps are all too familiar; one claiming the bailouts prevented total disaster, the other claiming the bailouts only postponed a disaster which was inevitable but is now exacerbated by the procrastinated day of reckoning.  Any astute observer should know by now the solution to a debt problem is not an increase in debt, yet this has been the accepted policy for decades now and Jim seems to think there’s no turning back…

“The opportunity to change what we have now is past us! …If what is conservative and right was to be done, you could probably hear the economic explosion on Mars.  You can’t do the right thing politically at this point in time without creating as much harm as the problem itself.”

Full Interview:

ISDA to decide whether 5 Major US Banks go bankrupt this week

Corroborating with mainstream media articles, Benjamin Fulford, and the general trend I alluded to in my article “2012: The fall of the US Dollar Hegemony,” Jim Sinclair gives an interview with Martin Ellis which states 5 major US financial institutions will go bankrupt this week.

To set this up, first read what Benjamin Fulford stated December 20th, 2011:

Some very big banks have certainly lost more money than exists in the real world.

Every year January is a month for settlements of accounts among major banking players. January of 2012 is going to be a very interesting month. The talk is that Citibank, J.P. Morgan and Bank of America are among the doomed entities. Then of course there is the universal disgust at Goldman Sachs that is not going to go away quietly.

Taken together with a sky-rocketing debt ceiling, a failing Eurozone, and increasing awareness of the fraudulence perpetrated by fiat paper dollars and you have the perfect storm for a MAJOR credit event.

According to Jim Sinclair, there is an absolute media blackout on this issue making this a must-listen interview: