Richard Russell: This Is The Beginning Of A Major Move In Gold
KingWorldNews.com
August 27, 2012
The Godfather of newsletter writers, Richard Russell, believes we are seeing the beginning of a major move in gold. Here is what Russell, who is now 88 and has been writing about the markets for nearly six decades, had to say: “The wild cards — the stock market takes an unexpected spill in September, and the employment and unemployment statistics worsen just around election time.”
Richard Russell continues:
“But what’s this? Headline in (the) Financial Times — “Republicans to Push Gold Standard Back Into Center of Political Debate.” I think this is just a feeler, I doubt whether the US is ready to go back to the gold standard. That will happen out of desperation when there’s no where else to go.
Of course, the Fed will fight any suggestion of going back to the gold standard. The Fed wants to have the sole right to create money, and the gold standard means discipline, the last thing the Fed wants. But it’s interesting that the subject of gold has come up at this time.
Lets start with some basic fundamentals. With the entrance of Asia, China and the emerging nations into the world economic system, more products were made than the world could digest. This was the beginning of world deflation. The planet was chocking on competitively-priced goods. And it produced deflation.
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