As the world continues to digest breaking news out of Greece, today the Godfather of newsletter writers, 90-year old Richard Russell, covers everything from World War II, to God, gold, peace of mind and what to do in a financial hurricane.
Richard Russell: "The stock market backs off gingerly but the Dow remains stubbornly above 17,000. With every central bank churning out more fiat money, the question is whether the world’s markets will catch fire amid the veritable avalanche of fiat cash. In step with the stock market, gold has stepped back a bit, while still holding above 1200. As I write, one hour before the close, spot gold is trading at 1279.30, and silver is up 0.14, selling at 17.22.
Wealth Trumps Income
I’m sticking to my new thesis, that wealth trumps income. To translate, if you have enough wealth, you don’t need to gamble on items that hopefully will provide income.
It all has to do with my philosophical argument, which questions why we need more and more. Can’t we be happy with what we’ve got? The other half of my argument involves peace of mind. Again, I insist, that peace of mind is the most valuable commodity you can possess.
God, Gold And Peace Of Mind
Speaking of peace of mind, I note that gold minus the L spells God. And minus the G it spells old. It’s interesting that Russia, China and almost every central bank are now buying gold. And I wonder: is their gold a hedge against a future collapsing dollar?
World War II – I Wonder How I Survived?
Last night I watched a Ken Burns documentary simply titled, The War. The film showed how World War II affected almost every American family. In the early days of the war, the media was not allowed to show photographs of dead Americans. Life magazine broke the rule by running a full-page photograph of three dead Americans, face down in the water, at the Normandy landing. Nobody knew who the three dead soldiers were. Later, bodies were collected and buried in mass graves near the coast of France. The photo had the effect of moistening my eyes, and once again I wondered how I came out of the war alive.
More Work To Do
I asked a spiritually inclined lady who takes care of my first wife, Connie, why she thought I lived through the war and to my present age of 90. Without hesitating, she replied, “It’s obvious. God has work for you to do.” Her answer struck me and a light bulb went on. I have often asked myself – what have I got to look forward to? In an ah-ha moment, the answer came to me. I look forward to taking care of my grown-up children and grandchildren, and I think of my subscribers as my own family. So I look forward to doing my best for my kids and my subscribers. And I thank God for keeping me safe.
I Miss The Old Days
I just read that more people are living alone in the US than ever before. I long for the old days when families lived together and stayed together. Often grandparents and children lived together and helped each other in the process of maturing. Today I have one child who lives in Malibu, another who lives in Arizona, a third who lives in Brooklyn, and a fourth, my son Ryan, who lives on his farm in Northern California. I talk to all of my kids every day, but I really wish that we all lived together. As I have grandchildren, the family spreads ever further apart. I liked it the old way, when families lived together and stayed together.
I subscribe to Louise Hay’s three laws: I am always safe, I hear what I need to hear, and I receive whatever supplies I need for each particular day — no more and no less. Of course this jibes with the new rule of mine: the past is gone, and the future is unknowable. So I live for today. When you think about it, all anxiety and fear have to do with what may occur in the future. But since the future is unknowable, staying in the here and now is an excellent way of avoiding anxiety.
When A Hurricane Strikes
Late Notes – Gold was selling at 1279.30, and is still trying to close above 1300, which seems to be a line of fierce resistance. The gold miners were firm with GDX at 22.45 and GDXJ at 27.55. I’ve been promising myself to take a vacation – the first in 60 years — but I want to leave a last thought to my subscribers. “Wealth trumps income.” If you possess wealth in the form of silver and gold, you’re in good shape for what comes up. There is nothing wrong with standing still and holding on to a lamp post in the face of a hurricane. That’s where you are if you are sitting with silver and gold at this time. You can access Richard Russell's 90 years of wisdom and remarkable writings at Dow Theory Letters by CLICKING HERE TO SUBSCRIBE.
***ALSO JUST RELEASED: Historic Revolt Against Western Banksters Now Underway CLICK HERE.
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