Is a biblical debt jubilee coming to America? Sinclair says, â€œWe already have jubilees. If you donâ€™t pay your rent, you have a jubilee. If you donâ€™t pay your student loan, you have a jubilee. If the payment of your auto insurance is postponed, you have a jubilee. Weâ€™ve got jubilee after jubilee after jubilee. Keep in mind, one manâ€™s jubilee is another manâ€™s disaster. Itâ€™s almost as if the Bible is correct in terms of economics. Also, keep in mind, the people who arenâ€™t being paid are being hurt very badly.â€
Sinclair thinks the recovery will take a decade or longer, and Sinclair says, â€œIt will be just like the period between 1929 up to WWII (1941).â€
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.â€ Sound outlandish? Not if you listen to his simple math for coming up with this price range for the yellow metal.
Join Greg Hunter as he goes One-on-One with renowned gold expert Jim Sinclair.