Jim Sinclair: Debt Jubilees Everywhere, $50000 Gold is on the Low End

Is a biblical debt jubilee coming to America? Sinclair says, “We already have jubilees. If you don’t pay your rent, you have a jubilee. If you don’t pay your student loan, you have a jubilee. If the payment of your auto insurance is postponed, you have a jubilee. We’ve got jubilee after jubilee after jubilee. 

Keep in mind, one man’s jubilee is another man’s disaster. It’s almost as if the Bible is correct in terms of economics. Also, keep in mind, the people who aren’t being paid are being hurt very badly.” Sinclair thinks the recovery will take a decade or longer, and Sinclair says, “It will be just like the period between 1929 up to WWII (1941).” 

Sinclair also stands by prior predictions of an extremely high gold price in the next few years. Sinclair says, "The price on the low end is $50,000 per ounce. The true price is $87,500 per ounce.” Sound outlandish? Not if you listen to his simple math for coming up with this price range for the yellow metal.

- Source, USA Watchdog