RUSSELL: A Massive Stock Market Collapse Will Wipe Out 60 Years Of Inflation And Leveraging

TBI ^ | 3-30-2012 | Sam Ro

[blam]

RICHARD RUSSELL: A Massive Stock Market Collapse Will Wipe Out 60 Years Of Inflation And Leveraging

Sam Ro
Mar. 30, 2012, 8:23 PM

Richard Russell, writer of the Dow Theory Letters, is just looking for the right time to buy stocks.

But that time isn't now. And until that time comes, Russell will be keeping his wealth in gold.

He writes in King World News:

What I want to illustrate is that great fortunes are made at super-bear market lows. But you must have the money at the lows. Which is why gold is so singular and valuable. If you have gold at the bottom of the next bear market, you can exchange it for a collection of great common stocks or funds, and then sit back and relax.

You are then betting on the lasting power of the US. If the US comes back, you will be rich beyond your wildest dreams. But you have to have the guts to hang on to your gold. And you need patience -- the patience of ten men.

And when the time comes, things will get messy before they get good.

And I wonder -- is there a super bear market waiting for us somewhere in the future? The great ride from the end of WWII to today has never been fully corrected. Some day it will be. And impossible bargains in stocks will be lying around.

...My thinking is that sooner or later we will be subject to a major correction (bear market) that will wipe out or correct 60 years of inflation and leveraging. When that happens, I want to own the only kind of money that the Fed can't destroy.

Read Russell's entire commentary at KingWorldNews.com.
(Richard Russell: Hang On To Gold, Massive Collapse Coming)

[presently no screen name]

Did you hear about Greg Smith, 33 yrs old? He quit.

Mr. Smith, a previously obscure executive who ran Goldman Sachs’s United States equity derivatives business in Europe, the Middle East and Africa, burst onto the public scene in a widely read Op-Ed article in The New York Times on March 14. In the article, he described “derivatives sales meetings where not one single minute is spent asking questions about how we can help clients. It’s purely about how we can make the most possible money off of them.”

[DH]

Let ‘em try. Too many people now have gold, and guns.

---

That’s pretty tough talk there fella.

You are worried about your gold while the IRS, state and local taxing authorities are robbing you blind? Gold is simply “icing on the cake” for them.

[bert]

we are nearly to 25 posts and still no boasts about lead and brass holdings

Something must be afoot

[PLMerite]

You are correct, but in the narrow context of gold confiscation my point was that people would not go along with it like they did in 1933.

[Toddsterpatriot]

The Elliott Wave has never been wrong.

Bob Prechter issued a buy call the morning of October 19, 1987. Still makes me laugh.

[blam]

"We are nearly to 25 posts and still no boasts about lead and brass holdings

"Something must be afoot"

Why Does The Department Of Homeland Security Need 450 MILLION Hollow Point Bullets?