RIP RICHARD RUSSELL

It’s weird sometimes how curiosity leads to understanding. I started reading John Mauldin’s weekly newsletter in 2002. He referenced the writings of Richard Russell in one of his letters. He wrote a daily subscription newsletter, but I found a number of his articles for free and was immediately impressed by his reasoning and logic. I subscribed to his Dow Theory Letter and read his thoughts every day. His sound arguments for owning gold convinced me to invest in gold stocks, gold mutual funds, physical gold, and upon its issuance GLD. This was 2004, so I enjoyed excellent returns over the next seven or eight years.

I stopped paying for his newsletter in the late summer of 2008. It was clear to me we were about to experience an economic meltdown and he came out with a huge BUY recommendation just before the September 2008 collapse. I lost faith in his advice. Nobody’s perfect, but I don’t need to pay for bad advice.

I still think he was a brilliant analyst and I owe him a huge debt of gratitude. I had never heard the name Ron Paul until Richard mentioned him as the one decent politician in Congress. I started reading the writings of Ron Paul and became convinced he was the only person in Washington DC who had the right solutions for the country. I became a huge supporter of his 2008 bid for the GOP nomination. My outrage at how he was scorned and ridiculed by the neo-con GOP establishment and their media mouthpieces at Fox News, led to me to write the first article of my life – Why We Need Ron Paul – which was kindly published by Lew Rockwell.

So, in a way, Richard Russell is responsible for this website. Thank you Richard, and rest in peace. You left at the right time. 

From Richard Russell’s Family

It is with great sadness that we report the passing of Richard Lion Russell on Saturday, November 21. Richard had gone to the hospital a week earlier with abdominal pain. He was diagnosed with blood clots in the leg and lungs and other untreatable ailments, but was able to return home under hospice care. He spent his last days surrounded by family and visited by close friends.

Continue reading “RIP RICHARD RUSSELL”

CITIBANK CLAIMS GOLD IS A BUBBLE

“A friend asked me to choose one investment that I would want to leave to my great-great-grandchildren. I immediately answered that it would be gold coins. The reason I explained is as follows – corporations can disappear, stocks can collapse, governments can change and they can fall, booms and recessions come and go – but gold is intrinsic money, and no man or nation has ever doubted its value. And they never will.”

Richard Russell

DAMN THE U.S. LIES, BULLSHIT & PROPAGANDA

With continued chaos and uncertainty in global markets, today KWN is publishing an incredibly powerful piece that was written by a 60-year market veteran.  The Godfather of newsletter writers, Richard Russell, is now becoming more vocal about the the United States government lying to its people.  He also discussed major moves by the Chinese, why the stock market will crash, and what is happening with gold, and particularly silver.

Russell: “It’s not the troubling news that’s making the hair on the back of my neck stand up, it’s the lying and BS and propaganda that I can’t stand.  For instance, we’re being told bold lies about the US economy.  From what I hear and what I can dig out, the US is in recession and has been since late 2007.  Bernanke left office believing (hoping) that the US economy was improving.

Now Janet Yellen is Chair of the Fed, and she is hoping that Bernanke was right.  Yellen notes that retail sales and housing and job growth and industrial production have slowed, but she blames all this unsatisfactory data on the rotten weather we’ve been experiencing.  The latest is that Yellen will continue tapering.  Good luck Madam Yellen.”

Read the rest at King World News

RICHARD RUSSELL PREDICTS HYPERINFLATION WITH STOCKS, GOLD & SILVER SKYROCKETING

I don’t know whether Richard Russell is a contrarian indicator or a prophet. I used to pay for his daily newsletter. I enjoyed reading his ramblings. In late 2007 he advised his readers to go all in on stocks. I thought he was nuts and cancelled my subscription. We know what happened next. In my opinion, his credibility was shot. Now he is advising people to go into stocks to benefit from the coming hyperinflation. I think I’ll ignore his advice once again.

With continued chaos and uncertainty in global markets, today KWN is publishing an incredibly powerful piece that was written by a 60-year market veteran. The Godfather of newsletter writers, Richard Russell, is now warning that the world is going to witness a terrifying hyperinflation. He also discussed how this hyperinflation will impact major global markets, including stocks, gold, silver and other hard assets.

“I believe all primary trends run to conclusion. All primary trends end in exhaustion and extremes in blue chip prices. The primary bear market that started in 2008 was never allowed to run its full course to completion. At the 2009 low, the market was severely oversold and in need of a “rest.” At that same time a terrified Federal Reserve stepped in with massive infusions of liquidity, thereby giving impetus to the upward correction that had started in the stock market. I believe the Fed’s machinations will set off hyperinflation somewhere during the next two to four years. I believe hyperinflation will be followed by a continuation of the primary bear market.”

Read the rest of the article at King World News.

THE SECULAR BEAR WILL MAUL JANET YELLEN

 

The Federal Reserve has pulled out all the stops since 2008. They’ve used every extreme method to keep the oligarchs fat, happy and rich. The Fed helicopters have been flying over Wall Street for the last five years dropping $3 trillion of fiat and scooping up trillions of toxic assets. It has failed. The country is in far worse shape today than it was in 2008. The American people are $6.5 trillion more in debt, paying twice as much for gasoline, with 7 million more people on foodstamps. More people have left the workforce than have gotten jobs. But the.1% have done splendidly, which was the Fed plan all along. But now the unintended consequences have arrived. Currency wars and inflation in emerging markets are going to bring the mountain of debt tumbling down. The secular bear market that began in 2000 will resume. There is a 50% fall on the horizon. Janet Yellen is the dupe. She just doesn’t know it yet. Richard Russell knows. 

Via King World News

“The bear market that started in October of 2007 continued through 2008, but at the 2009 lows the Fed intervened with all the ammunition at its command, and halted the bear market.

What we’re seeing now is the primary trend overpowering the Federal Reserve. We’re now seeing the resumption of the bear market that was interrupted at the 2009 lows. All bear markets are international in scope. Thus the primary bear trend that we’re now in will affect everything on the planet. Already we hear reports of a slump in China’s manufacturing. When new Fed Chairwoman Janet Yellen takes command, she will have to open the spigots wide in an effort to halt de-leveraging and deflation.

 

Interestingly, fiat currencies around the world are sinking. There’s only one currency that represents safety, and that currency is gold. Which, by the way, is higher today. I expect to see further semi-crash action in the days ahead, as the primary bear market resumes. I think investors will remain hopeful as long as this decline remains this side of 10%. But if the decline surpasses 10%, I believe we will see panic action as investors realize that this is not a correction, but a bear market.”  – Richard Russell