Cyprus Disaster Is MUCH Bigger Than Being Reported

Jim Sinclair: “If people believe that $13 billion is the total of this bailout, they are out of their minds.  $130 billion is not the true total of even the Russian deposits in Cyprus banks.  One important Russian businessman, in his various business enterprises, would have $100 billion on deposit himself.  10% of all deposits in Cypress could be $500 billion or more because Cyprus is the banking entity for Russia, not Switzerland or Grand Cayman.

The Central Bank of Cyprus doesn't even know how big the Russian deposits are because it is held as secret at the behest of the Russians.  It is a secret banking system set up for the Russians, by the Russians, and the IMF has just taken a large bite out of that elephant.   

“People need to grasp that this is not about $130 billion.  The real dollar figure is orders of magnitudes larger than that number.  How much higher we’ll never know, but it is massive.  This is the Bank of Russia we are talking about here.  The Central Bank of Russia is for the people in Russia.  What the IMF went after here is the central bank of the Russian elite and former KGB, and the Russians simply will not stand still for that.”


When the Cyprus event first took place, the mainstream media completely missed the entire point of the story.  This is why I immediately did an interview with King World News to explain that what the IMF had just done was to steal the Russian elite, or ex-KGB officials’ money.

This IMF catastrophe in Cyprus is literally a landmark event in history, and the single most important event in the entire history of the gold market. Full Story / KWN