As people continue to digest breaking news out of Greece and around the world, the Godfather of newsletter writers, 90-year-old Richard Russell, warned that as people continue to panic into hard assets, he prays that China's vicious bear market does no engulf the world.

Richard Russell: "There is a preliminary deal in Greece, and it looks as though there will be no exit from the Eurozone. Far more important, but receiving less publicity, is the stock market crash in China. My belief is that if China catches a cold, the world will suffer from pneumonia.

King World News - The Most Expensive Things In The World That Will Surprise You

Panic Into Hard Assets As The Death Of Fiat Money Looms

I believe we are seeing the ultimate death of fiat money. In the ashes of dying fiat money, real constitutional money will emerge. Silver and gold have outlasted every fiat currency in history. As the world’s fiat currencies lose purchasing power, wealthy individuals are hedging their bets by diversifying into tangible items such as great art, outstanding collectibles and gems. The average person cannot afford a Picasso or a ten-karat diamond, but he can afford a monster box of 500 silver coins.

The US Treasury puts out what it calls “monster boxes” of silver coins. Each box contains 500 one ounce silver coins. Delivery on these boxes is now 3-5 weeks. In other words, there’s a tremendous rush to buy these boxes. I would like all my subscribers to buy as many boxes as they can afford. You can buy these boxes from your local dealer or from my dealer at 858-459-2228. Silver will be the hot metal, and when it takes off, it will drag gold with it.

King World News - Richard Russell - China's Destructive Bear Market May Spread To The U.S. Within 30 Days

I Pray The Bear Market In China Does Not Engulf The World

As subscribers know, I’m a cheerleader for the US. At this point I’m not particularly worried about Greece but I am very worried about the collapsing Chinese stock market. The crash in China is almost sure to slow commerce across the face of the planet. If the world’s second largest economy is caught in a bear market, the negative effects will likely be international in scope. Still I pray that the bear market in China will not segue into an international bear market.

The bear market that started in 2008 was interrupted by a huge infusion of liquidity by the Fed. I would have preferred that the bear market had run its course. That would have eliminated decades of inflation and leveraging.

Interfering With Gold's Plans Is A Formula For Catastrophe

Primary bull and bear markets are acts of God. And to interfere with God's plans is the formula for catastrophe. So saying I invoke God’s blessing to all my subscribers. God favors the lamb of liberty and the home of the brave. Buy one or more boxes of silver coins. My love to all." I would urge all KWN readers around the world to subscribe to Richard Russell's 90 years of wisdom and remarkable writings at Dow Theory Letters by CLICKING HERE TO SUBSCRIBE.

***KWN has now released the extraordinary KWN audio interview with Egon von Greyerz where he discusses the incredible turmoil of the past two weeks, what to expect next, the coming financial destruction that is still in front of us, what investors can do to protect themselves and much more, and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.

KWN Greyerz 7:12:2015

***KWN has also now released the incredibly powerful KWN audio interview with Nomi Prins, where she discusses why the Chinese stock market crash was just a preview of things to come, the coming financial destruction that is still in front of us, what investors can do to protect themselves and much more, and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.

KWN Nomi Prins mp3 7:11:2015

***ALSO JUST RELEASED: Greek Tragedy Coming To A Bank Near You As Tsipras Sells Out Greek People And Keeps Them In Debtors' Prison CLICK HERE.

If you are interested in purchasing physical gold and silver for delivery you can call Steve Quayle or his staff at (406)586-4842, or you can email them at [email protected] or [email protected]

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If you are interested in purchasing physical gold and silver for delivery you can call Steve Quayle or his staff at (406)586-4842, or you can email them at [email protected] or [email protected]

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The audio interviews with Egon von Greyerz, Nomi Prins, Gerald Celente, Andrew Maguire, Michael Pento, Dr. Paul Craig Roberts, Rick Rule, Bill Fleckenstein, Stephen Leeb, Eric Sprott, Robert Arnott, David Stockman, Chris Powell, John Mauldin, Dr. Philippa Malmgren, Marc Faber, Felix Zulauf and Rick Santelli are available now and you can listen to them by CLICKING HERE.