This Is What Has The United States So Incredibly Terrified

Wednesday, October 30, 2013
By Paul Martin

October 30, 2013

As the chaos and uncertainty in global markets continues, today KWN is publishing a powerful piece that was written by a 60-year market veteran, and legend, which reveals exactly what has the United States and its leaders so incredibly terrified. This is from the “Godfather” of newsletter writers, Richard Russell. Toward the end of this fantastic piece Russell reveals what has the US so frightened at this key moment in history.

Richard Russell: “Turning to the market, fund managers are in the strangest predicament I have ever seen since I started writing 60 years ago. The basic problem is the immorality of printing unbacked, intangible fiat money. For years I’ve called fiat money basically immoral and an insult to the US constitution. Unfortunately, our children and grandchildren will suffer the results of years of fiat currency printing. Yes, even Wall Street is subject to the laws of morality.

The Fed has placed us in a dangerous situation. At the slightest hint of cutting back, the markets go into a swoon. This means that the FED must continue with QE. On that basis we might as well play the FED’s game. This would mean buying the DIAs and staying with them until the edifice begins to weaken. Signs of weakening will be declining volume as the market climbs.

Finally, as upside momentum runs out, the market will turn down. Nobody can identify the peak of momentum, so we’ll have to depend on volume. This is a dangerous game and not everyone has to play it. Personally, I don’t have the stomach to play this latest Wall Street game of musical chairs.

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