Richard Russell – US May Destroy The World Monetary System
KingWorldNews.com
December 9, 2013
With continued chaos around the world and uncertainty in global markets, today KWN is publishing an incredibly powerful piece that was written by a 60-year market veteran. The Godfather of newsletter writers, Richard Russell, now believes the world is facing a danger that “the US will single-handedly tear the world monetary system apart.” This is one of the most remarkable pieces Russell has ever put together.
Richard Russell: “When I read dozens of advisories, I sometimes dream that economics could be simple. How about this: the US Treasury issues bonds, the Federal Reserve buys these bonds with money it creates with the computer, money brought about from thin air. It’s money that nobody worked for an nobody took risks for. The newly created money amounts to over one trillion a year. It’s taking more and more newly created money to produce less and less in the Gross Domestic Product. That’s a trend that could easily end in hyperinflation.
Friday’s market provided a hint of a melt-up. Subscribers with strong stomachs may be indulging in this melt-up. Others with weaker stomachs are probably on the sidelines. My original thinking is that this melt-up would be so powerful and so insistent that few would be able to sit on the sidelines and watch. In investing, the ticket to success is to take big profits and small losses.
Philosophically, what do you gain when you make a killing in the market? Probably a more luxurious life, and a feeling of well being. But nobody can take his profits with him. Which is why Warren Buffett and Bill Gates are giving their money away while they are alive.
I never ask subscribers to do what I wouldn’t do. And what am I doing? If I buy anything here, unless I hold it for a year, I’ll be subject to short-term capital gains tax. Since I can’t be sure that this advance will last for over a year, and thus give me tax break, I’m not going to enter this market.
The Rest…HERE
