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Richard Russell continues:
“China's Watergate -- A top Chinese official is accused of wiretapping the president of China. The man who was thought to be the future president of China, has been caught red-handed in a crime: wire-tapping the (current) president of China.
Along with this crime, up to $180 billion is missing, and it is thought that there is a connection. China is the only dictatorship without one man (the dictator) in charge. China is ruled by a collection of dictators, and therein lies a problem -- fierce and deadly competition.
What I learned over the weekend. China has a 9-man dictatorship; it is the only dictatorship that is not led by one man. When it was learned that one of the ‘dictators’ had wiretapped the Chinese leader, all hell broke loose. Uneasy lie the heads of the various Chinese leaders. Yet strangely, the Chinese stock average is holding steady. On the news the FTSE broke below its 200-day MA, and then bounced back above it again.
Time to check out the world. Below is Morgan Stanley's World Stock Average, and as you can see it's been bouncing off its red 200 day moving average. The picture since March has been rough and erratic, suggesting that the World Index could go either way. But MACD suggests that the way it will be heading is ‘due north.’
The really huge money is paying record prices for rare works of art -- and one-of-a-kind gems. And I mean the prices are in the multi-millions. It is thought that many of these buyers are Russian or Asian billionaires. The number of billionaires on earth is now counted in the thousands. Warren Buffett is no longer alone.
But unlike most billionaires, Buffett voices his opinion on almost everything -- particularly on why the ‘rich’ should pay more taxes. Of course, Warren owns a frozen custard chain so he could pay all his income in taxes and survive just living off soft ice cream. He could also spice it up; with candy, since he also owns See's Candy.”
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© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
The Dr. Keith Barron and Eric Sprott audio interviews are available now. And be sure to listen to this week’s incredible line-up of other KWN interviews, which include Egon von Greyerz, Rich Yamarone, John Embry, Jim Sinclair and John Hathaway. You can listen to these interviews by CLICKING HERE.
Eric King
Richard Russell - A Chapter of the World Has Come to an End
With continued volatility in global markets, the Godfather of newsletter writers, Richard Russell, had some very interesting charts and warnings in his latest commentary. Here is what Russell had to say: “I woke up this morning with the distinct feeling that a chapter of the world had come to an end. I felt that a new world is being heralded. What this means I don't know. The thought came out of my unconscious. It haunted me all Sunday. One chapter had come to an end, and a new one was starting. The new chapter may be starting in China.”
© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast,
rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
May 1, 2012
