Richard Russell – We Will See Radical Events Collapse Global Currencies
KingWorldNews.com
December 30, 2014
With unprecedented events taking place around the world, the Godfather of newsletter writers, 90-year old Richard Russell, covers everything from how he almost died in World War II, to coming radical events that will collapse global currencies.
Richard Russell: “Warren Buffet was asked how he came to be one of the richest men on earth. He answered that, 1) he was lucky enough to be born in America, 2) he had good genes, and has lived to his eighties, and 3) he understood the almost miraculous power of compounding through time.
Turning to the present situation, copper has fallen to a four-year low, and oil has dropped into the fifties. The Fed has not been able to crank the economy up to its desired level of 2% inflation. The Fed, in its frantic effort to counter deflation by producing inflation, has turned almost everything into a bubble. Bonds are in a bubble, stocks are in a bubble, real estate is in a bubble. The Fed has created an “everything bubble.”
Seeing prices rise, money from all over the world is pouring into the US dollar and US stocks. This is creating the wild and wooly third phase of this bull market that I have been predicting. The choices are to buy the US dollar or to buy US stocks. No one knows how large the “everything bubble” will grow to. My thought is that my subscribers should take a position in the US stock market with a vehicle such as DIA (Dow Industrials ETF) or SPY (S&P 500 ETF) and be prepared to bail out at your own discretion. I view the coming events as the graveyard for fiat currencies. Thus the madness that I see ahead will culminate with the only honest currency, and that currency is gold.
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