Richard Russell – Cyprus, Gold, & The World’s Money Masters
March 26, 2013
On the heels of continued chaos in Europe, and a world that seems to be teetering on the edge, today the Godfather of newsletter writers, Richard Russell, discusses the crisis in Cyprus, gold, the world’s money masters and global markets. Below is what Russell had to say to subscribers:
“At any time in history, there is a great and all-encompassing THEME. And I’ve wondered what the theme of today could be — what is the great theme of our times? I grew up in different times during the ’30s and 40s. The theme of my youth was — stop the dictators, Hitler and Mussolini, from taking over the world.
This is what I believe the theme of our times is. We are in a period where the “haves” are determined to hold on to their positions in the world. The “haves” include the world’s leaders and politicians, and the world’s “masters of the earth,” which includes those who control the world’s money.
Those who control the money make the rules, and their main aim is to remain in power. Currently, the various central banks control the creation and the issuance of money. To ensure that they remain in power, the central banks are spewing forth a veritable avalanche of fiat currency, money created out of a computer — money that has been created out of “thin air.” In turn, we are supposed to bow down and thank the money creators, those who are saving us from a new world depression.
At this time, although no banker will admit it, we are experiencing an international currency war. Every nation wants a cheap, competitive currency. It’s a system better known as “beggar thy neighbor.” Further, here in the US, the Federal Reserve has driven interest rates down to almost zero.
The zero interest rates are calculated to force people into equities, or better still, into housing. The average man has little or no savings, and if he does have any savings, he can’t find any place that will take his money and produce an income.
In this whole process, debt has been created to an extent never seen before in history. So far, the debt has been managed with super-low interest rates and borrowing. But the compounding process goes on, and the debt mountain continues to grow. So, to be brief, I see the theme of today as the “haves” doing whatever they have to — to remain in power.