Richard Russell – Damn The U.S. Lies, Untruths & Propaganda

Tuesday, May 6, 2014
By Paul Martin
May 6, 2014

Today KWN is publishing another important piece that was written by a 60-year market veteran. The Godfather of newsletter writers, Richard Russell, once again attacked the United States for its lies, untruths and propaganda. When you approach 90 years of age you say what’s on your mind, and in this case it’s the truth.

Russell: “I felt something changing last Friday. Was the truth breaking out? Lies, untruths and lies, propaganda, lies and damn lies. What are the lies? Lies that the Fed and the government are telling us — Federal Reserve Notes (“dollars”) are money and silver and gold are outdated relics of another age. What I sensed on Friday (with gold up 17 dollars and silver up 50 cents) was that the basket of lies was beginning to fall apart.

The US public will swallow lies for just so long, and then the truth breaks through the barriers. The public knows that “their” inflation is more like 12% than the 1.2% that the Labor Department says it is. The public is beginning to wake up to the fact that silver and gold are real money — pure wealth that has been respected for thousands of years.

Meanwhile the Fed is pumping trillions of dollars into the banking system in an attempt to push core inflation up to 2 percent. The system absorbs all this liquidity, and actual “poor man’s inflation” gradually increases. But somewhere ahead (I think it will be this year) inflation will break out of its current bounds, and today’s “mild inflation” will turn into hyperinflation. That’s when interest rates will break out and head violently higher. At that point the Fed will administer the only medicine it knows — more QE, more liquidity.

Judging by past history, there are only two certain events — wars and currency depreciation. This is the concept that scares me (I have a 35 year old son). Can it happen? As a World War II veteran, I’ve seen the horror of combat and what it does to people — both mentally and physically. But look at all the possible spots where war might break out — Israel, Iran, Japan-China, Ukraine, Syria, Egypt. Anywhere and everywhere.

The Rest…HERE

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