Legendary Richard Russell Predicts Within A Year All Physical Gold Will Be Swept Off The Market

In the aftermath of last week's historic Swiss move, today the Godfather of newsletter writers, 90-year old Richard Russell, warned investors that within a year all available physical gold will be swept off the market. Russell also takes readers on a fascinating journey of his memories of the Great Depression.

Richard Russell:  “In the 90 years that I have been on this earth I have never felt good about myself. But lately, after much soul searching, I finally accepted that I am a good person and deserve to treat myself better. I grew up during the Great Depression and I learned to always order the cheapest item on the menu in restaurants. In those difficult days, a penny saved was like a dollar earned.

I remember well during 1932, that real estate parcels in New York City were often for sale for $10,000 cash. Yet they didn’t sell because people were afraid to put down $10,000 cash on a New York City building. Anybody who had cash refused to part with it regardless of the huge possible return on their money. If you had cash, you thanked God that you had it and no investment was juicy enough to entice you to put down your money. Thus, New York real estate was selling at giveaway prices and it stayed that way until the Great Depression ended.

I remember full-course Sunday dinners at top restaurants being offered for a dollar or less. I remember admission to neighborhood movies (double features) for 15 cents, and you could stay the whole night sleeping in your seat to stay out of the winter cold.

Back to my recognition that I am basically a good person and I am entitled to love myself. In proof of this, I now give myself permission to enjoy my life. I buy the little things that I’ve always wanted and I take my daughter Daria and her husband out for good dinners at fine restaurants on the weekends. Louise Hay is correct, everything starts when you learn to love and cherish yourself. I think I’ve finally arrived there; it’s only taken me 90 years.

I left Tuesday’s site with a suggestion that my subscribers swap their phony fiat money for real tangible constitutional money, gold. I believe that within the next decade we will experience a worldwide trend towards honesty and the truth; this will start with currencies and the world will go back to the gold standard.

Since the Great Depression, there have been a number of bull markets, and their average age is 3.8 years. Yet the current bull market is almost six years old. Bull markets usually end and die during periods of hysterical optimism and then exhaustion. That is the way I expect this market to end.
I think analysts are making a mistake by matching this bull market with previous ones. This bull market has been characterized by central bank interventions.

Currently stocks are trading in an environment of massive liquidity and bonds are operating alongside manufactured zero rates. Currently investors are driving themselves crazy looking for a safe place to make money. Some are buying treasury bonds on the thesis that interest rates will continue to head down and that bond prices will rise. Other investors are buying the US dollar on the thesis that the US is the only bullish economy in the world. Europe is near recession. Japan is seeing deflation again and Russia is a basket case. The US remains the only light at the end of the tunnel.

In this time of massive liquidity, I see the world’s stock markets as comparable to a powder keg. The wick is lit and no one knows when the whole pile will ignite.

Late Notes — There is a giant secret stirring under today's market. China, India, Russia and almost every central bank is buying physical gold. I'm guessing that within another year, physical gold will be swept off the market.”
http://kingworldnews.com/legendary-richard-russell-predicts-within-year-available-physical-gold-will-swept-off-market/