Richard Russell – This Immoral & Evil Power Will Doom Us All
KingWorldNews.com
August 4, 2014
At 90 years old and still going strong, the Godfather of newsletter writers, Richard Russell, warned about an immoral and evil power that will doom us all. The 60-year market veteran also discussed major markets, gold, inflation, and mentioned an asset class he expects will end up in a mania.
Russell: “Gold symbolizes the omnipresence and all-power of God.” Emmet Fox
I’ve lived through many primary bear markets and recessions and believe me, they are always miserable. Some have been saved through the old limerick, “He who panics and runs away lives to invest another day.”
During the 1800s there were many panics and recessions. This finally paved the way for a central bank and the Federal Reserve in 1913.
Returning to the problem of today’s insane debts, I don’t see the US following Argentina’s example and reneging on our debts. No, I believe we’ll follow the Fed’s example and attempt to INFLATE our debts away — in other words, to minimize the enormity of our debt through inflation.
If you owe ten thousand dollars, and you have total wealth of five thousand you are bankrupt. But if you owe ten thousand dollars and you have wealth in the millions of dollars, your ten thousand dollar debt is nothing but a minor annoyance.
The Rest…HERE
