Richard Russell – Stocks To Crash As U.S. Lies To Its People
KingWorldNews.com
January 28, 2014
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, has issued a dire warning, saying that even though there will be rallies in the major markets, stocks are now headed into crash mode as the US government is using massive propaganda and lying to its people.
Russell: “The market was in semi-crash mode (Friday), closing on its lows with no late rally. I don’t think anybody knows what’s going on, but this is the story as Richard Russell sees it. The bear market that started in October of 2007 continued through 2008, but at the 2009 lows the Fed intervened with all the ammunition at its command, and halted the bear market.
What we’re seeing now is the primary trend overpowering the Federal Reserve. We’re now seeing the resumption of the bear market that was interrupted at the 2009 lows. All bear markets are international in scope. Thus the primary bear trend that we’re now in will affect everything on the planet. Already we hear reports of a slump in China’s manufacturing. When new Fed Chairwoman Janet Yellen takes command, she will have to open the spigots wide in an effort to halt deleveraging and deflation.
Interestingly, fiat currencies around the world are sinking. There’s only one currency that represents safety, and that currency is gold. Which, by the way, is higher today. I expect to see further semi-crash action in the days ahead, as the primary bear market resumes. I think investors will remain hopeful as long as this decline remains this side of 10%. But if the decline surpasses 10%, I believe we will see panic action as investors realize that this is not a correction, but a bear market.
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