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For a decade I have been urging my subscribers to move into gold – either
physical bullion or otherwise Richard Russell: Demise of the “Yankee Dollar” vs. the Rise in Gold] . Now I am at it again: PLEASE MOVE INTO GOLD. [Here’s why you should.] Words: 720
So says Richard Russell (www.DowTheoryLetters.com) in edited excerpts from the original article*.
Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com (Your Key to Making Money!) has edited ([ ]), abridged (…) and reformatted (some sub-titles and bold/italics emphases) the article below for the sake of clarity and brevity to ensure a fast and easy read. The article’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.
Russell goes on to say, in part:
Those who think gold has lapsed into a bear market simply do not know what they are talking about. Gold has simply been correcting in an on-going bull market [See my article entitled These Charts Say It All: GOLD Is STILL a BUY] .
This is a time when almost every central bank in the world is grinding out paper currency, grinding it out by the car-load. This is a time when people are searching for safety. People are frightened and confused. Where is the land of safety?
There is only one safe asset on the planet – and that safe asset is gold. Uninformed people believe gold is just a commodity. Wrong! Gold is absolute money. Gold alone is the world’s only completely safe currency. Gold has no counter-party against it, and no central bank has ever found a way to create gold. The fact is that gold can only be produced by the sweat ingenuity and capitalization of men.
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The key to the entire situation today is something you don’t hear anyone talking about. I am referring to PAIN. I am referring to the fear and avoidance of pain. When a man loses his job, it’s painful. When a man does not know how he’s going to feed his family, it’s painful. These are basics that every politician knows about.
The first job of every politician is to get reelected. If the politicians’ constituents are feeling pain they will not vote for the politician who represents them. Every politician knows this, and thus politicians always vote for spending plans that they hope will keep their constituents happy. [For more on the subject read America’s Political Process Guarantees Another Financial Crisis!] During the years following World War II politicians have OK’d an endless parade of spending bills. As a result the U.S. national debt has grown to over $13 trillion dollars – an amount that would have been considered inconceivable just a few years ago. Almost every nation on earth has indulged in the same kind of fiscal madness.
To cover the insane spending, nations have had to create an almost endless amount of fiat currency. This avalanche of “money” has steadily reduced the buying power of almost every currency. The result is that it takes increasingly more paper currency to buy one ounce of real money – gold.
*http://www.silverbearcafe.com/private/01.12/movetogold.html
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