Cyprus destroys premise of gold shorting, Sinclair tells King World News

Submitted by cpowell on 04:32PM ET Monday, March 18, 2013. Section: Daily Dispatches
7:26a HKT Tuesday, March 19, 2013
Dear Friend of GATA and Gold:
The expropriation of bank depositors in Cyprus has destroyed the premise of shorting gold, gold trader and mining entrepreneur Jim Sinclair today tells King World News.
"This is the birth of a transition of the gold market to a cash market," Sinclair says. "The paper markets will now be moving toward becoming cash markets. It is the birth of an entire new era of trading in what, until now, has been a paper-dominated market for gold when it comes to setting price. This will mean the end of the manipulation of the gold market because it will become 100 percent cash. Paper, in gold, is about to exit as a business as the physical market retakes its rightful position and makes the market price in gold."
An excerpt from the interview is posted at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/18_Sinclair_-_All_Hell_Is_Breaking_Loose_After_Cyprus_Catastrophe.html