Richard Russell – New, Terrifying Confiscation To Worry About
KingWorldNews.com
August 20, 2014
At 90 years old and still going strong, the Godfather of newsletter writers, Richard Russell, warned about a new and terrifying confiscation that people now need to worry about. The 60-year market veteran also discussed major markets, gold, inflation, and included four fantastic charts as well.
“Since 2007, the world’s central banks have collectively put more than $10 trillion into the financial system. This kind of money printing is literally unheard of in modern history. And it has set the stage for a roaring wave of inflation.” — Graham Summers, analyst
Russell: “We got the news out of Germany, the economic engine of Europe. For the second quarter Germany’s GDP was down .02%. Meanwhile Europe’s second largest economy, France, is flatlining. Italy, number 3, is in recession, and the rest of Europe is floundering. A recessionary Europe is bound to hit US exports. Now every nation wants a lower currency to aid their exports.
The key to the picture is expressed in this opening sentence from a front page column in Financial Times — “What does it take to persuade the European Central Bank to start quantitative easing?” Being in recession, the euro should be in trouble.
With the world in a deflationary recession, I now doubt we’ll see new highs in the D-J Averages. But with enough QE, it might be possible.
With deflation enveloping the world, investors have been racing to buy Treasury bonds, whose yields have sunk to record lows. My survival choice in investments continues to be silver and gold — the physical kind if possible.
The Rest…HERE
