Richard Russell – Put 33% to 50% Into Gold & Sidestep Bubbles
December 27, 2012
With the end of 2012 rapidly approaching, the Godfather of newsletter writers, Richard Russell, boldly told his subscribers they should put 33% to 50% of their money into physical gold. He also warned them to steer clear of the many bubbles that have formed. Here is what Russell had to say in a note to subscribers: “The smart talk now is that you should switch your bonds to equities on the thesis that stocks “should” move higher. I know that the major stock analysts believe that stocks should advance during the year 2013. On this thesis I’m not convinced. It bothers me when the great majority of analysts agree as to the future direction of the stock market. The majority of analysts are seldom correct.”
Richard Russell continues:
“Below, the euro. When the euro advances, as it’s been doing, its mirror competitor, the dollar, usually declines. When the dollar declines, gold usually rallies. But that’s not happening now. As the dollar declines, gold declines with it. Patience … I think matters will return to normal and gold will rally with the euro.