Russia Could Crush the Petrodollar

Russia threatened to dump its U.S. treasuries if America imposed sanctions regarding Putin’s action in the Crimea.

Zero Hedge argues that Russia has already done so.

But veteran investor Jim Sinclair argues that Russia has a much scarier financial attack which it can use against the U.S. Continue reading

Jim Sinclair: Russia is one move away from collapsing U.S. economy

On March 17, commodities adviser Jim Sinclair spoke in an interview with Greg Hunter of USA Watchdog on gold, the markets, and ongoing events taking place between the U.S. and Russia over Ukraine. During the 30 minute interview, Sinclair laid out a chilling scenario where Russia has positioned themselves to be one move away from collapsing the U.S. economy, and that one wrong move by President Obama could set the entire scenario in motion.

Jim Sinclair: To sanction Russia is to forget that Russia supplies Europe with its gas supplies. I honestly believe sanctioning Russia is the same as shooting yourself in the foot.

Greg Hunter: So Russia could not only say hey, we want gold for our payment (oil), but they could say, hey… we want you to pay us in rubles.

JS: Or pay us in anything. Also, it makes energy cheaper. Why would anyone want to pay in dollars if they can pay in their own currency? Continue reading

Jim Sinclair: ISDA to determine this week if five major US banks go insolvent

Yet, the American public is virtually and completely unaware.

In what might be one of the most important credit events about to occur in the history of the financial world, the International Swaps and Derivative Association (ISDA) is expected to make a decision as early as today on whether five major US banks will go insolvent according to Jim Sinclair in an interview on January 30th.

The ISDA is one of the most powerful monetary entities in the world, and in many cases according to Mr. Sinclair, has more power than governments.  It’s dominion spreads throughout the entire banking system, determining whether one or more of the nearly $1 quadrillion in derivatives and credit default swaps are paid out to holders in the event of a bank, sovereign nation, or securities default.

In his interview with Ellis Martin, Mr. Sinclair lays out that the decision by the ISDA could take place as early as today, and no later than this week, and it involves five major US banks, the nation of Greece, the Euro, and the chances of a massive QE bailout in the Western economic system.

Continue reading article: Jim Sinclair: ISDA to determine this week if five major US banks go insolvent (Examiner)

Interview link: Breaking News Ellis Martin Report with Jim Sinclair