sinclair heads up, page-6

The gist of the interview which is also at http://www.jsmineset.com/2012/01/30/the-impending-undeclared-default-of-5-major-us-banks/ is:

The 5 major USA banks that hold 97% of the Greek Credit Default Swaps and also are effectively the powerful industry association that regulates this - the ISDA - International Swaps and Derivatives Association - are not going to call the Greek "agreement" with its bondholders where they get repaid only 30 cents in the dollar a credit event - a credit default - because these banks which made massive profits by selling them credit default swaps - (insurance against a credit default) - will then have to pay up. The banks are not able to pay up because they don't have the money.

What we are now facing is massive QE which will be good for general equity markets over the next 12 months to 24 months and good for gold and gold equities.