Russell – What The Hell Is Going On With The US Gold Hoard?

Thursday, November 27, 2014
By Paul Martin
November 27, 2014

With historic events taking place around the globe, today the Godfather of newsletter writers, 90-year old Richard Russell, asks what the hell is going on with the U.S. gold hoard? The 60-year market veteran also asks the all-important question, “Why is our government hiding the real story on U.S. gold?”

King World News note: Since it is Thanksgiving in the U.S. we are featuring Richard Russell once again because he is the the Godfather of newsletter writers and the oldest and most legendary financial writer in the world.

Russell: “As you know, the central banks of the world are fighting deflationary forces through degrading their various currencies. Nobody, it seems, can escape the damaging forces of world deleveraging and deflating. According to reports put out by the labor department and the Fed, the US economy is the lone success in a world being fragmented by deflation. As all currencies decline, the world’s investors turn to the US and its dollar as safe havens. Just as there are questions about the strength of the US economy, there are questions about the gold status of the US. According to the World Gold Council, the US possesses the greatest hoard of gold of any of the hundred nations. Furthermore, 72% of the US monetary reserves are in gold.

What should we believe? Who should we believe? It’s ridiculous that we can’t get straight answers from the government about the holdings of US gold. After all, it’s our government and it’s our gold. The great mystery — why doesn’t the President, the Fed or Congress give us the answer to the great gold mystery? I’ve heard rumors about our gold, or lack of gold, for years. How in the hell can we get the truth? An attempt to get an audit on gold was turned down by the Senate. Why doesn’t our imperial president demand an answer on the US gold position? Why is our government hiding the real story on US gold?

The Rest…HERE

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