Richard Russell – This Will Trigger The Start Of A Historic Bear Market That Will Destroy The Current Economic System

Tuesday, August 4, 2015
By Paul Martin
August 04, 2015

On the heels of continued volatile trading in key global markets, the Godfather of newsletter writers, 90-year-old Richard Russell, warned about an event that will signal the start of a historic bear market that will destroy the current economic system. The legend also discussed gold, silver and a trapped Federal Reserve.

Richard Russell: “Investor’s Business Daily headline, 7/31/15: ‘Fed Rate Hike Probability in September Increases to 50%.’ From every side, it appears that the Fed is more than anxious to raise the federal funds rate. This is based on the Fed’s perception that the economy is rosy and growing stronger.

However another Investor’s Business Daily headline from the same issue states: “Worst Expansion Since WWII Gets Even Worse.” According to John Williams, the US economy is slipping back into recession. In the face of this, the mistaken Fed plans to raise rates.

Turning to the stock market, I note that the Industrials are down 92 to 17,598. The Transports are up 25 to 8416. The Nasdaq is down 13 and only 115 points above the critical 5,000 level. Gold is down 9.3 to 1085.8, while silver is down 27 cents to 14.48.

The Rest…HERE

A Trapped Fed

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