Richard Russell – Total Systemic Failure & Worst U.S. Nightmare

Tuesday, September 16, 2014
By Paul Martin

KingWorldNews.com
September 16, 2014

Today the Godfather of newsletter writers, 90-year old Richard Russell, warned about total systemic failure, the worst U.S. nightmare, a stock market collapse, and the end of the dollar. The 60-year market veteran also discussed gold, the desperation of the Fed, shocking developments in New York, and included two key charts.

Russell: “I’ve been thinking, the people at the Fed may be deceivers and even liars, but they are not stupid. They know that the current system depends on constant, never-ending growth. But they also know that “no tree grows to the sky.” So what are they really thinking? The people at the Fed realize that they have good jobs and that they have prestige.

They also know that they will continue their Keynesian policies for as long as they are employed by the Fed. And then when the system breaks down, which it must some day, they will be retired and the next Fed employees will take over. So enjoy it while it lasts and let the next guy deal with the ugly consequences. The Fed members may be deceitful and given to lies — but they are not stupid.

I guess the worst offender was Alan Greenspan, who while younger wrote a classic piece on the value of the gold standard. Later as Fed head, Greenspan turned his back on gold in favor of Fed-created fiat currency. Talk the truth when you’re young and idealistic. But when it comes to money and prestige, do whatever the circumstances call for. Is honesty and truthfulness just a matter of convenience?

The Rest…HERE

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