As we get ready to kickoff what will surely be another wild week of trading in global markets, the Godfather of newsletter writers, 91-year-old Richard Russell, takes a step back to look at the big picture, including chaotic global markets, gold, china crash, collectibles, World War II, life, health, the secret to aging and more.
August 23 (King World News) – The Big Picture, Aging, Gold, China Crash, Collectibles & More
Richard Russell: “Gold is the ultimate anti-Federal Reserve item. The Fed cannot create inflation by producing more gold, nor can the Fed create deflation by reducing the quantity of gold. The Fed hates gold because it cannot control it. Gold represents pure wealth.
Warren Buffett hates gold because he is in the business of compounding. And since gold throws off no interest or dividends, it is not possible to build wealth through compounding with gold.
Turning to the markets, I’m wondering whether the Chinese crash will put a top on the price of many collectible assets such as art and real estate. It looks like China is setting the way for the global economy.
I liken the market to a car in which one foot is on the accelerator and the other foot is on the brake. Tremendous heat is being generated, but which way is the car really headed? Another thing that bothers me is … the distribution days … too many for comfort.
At my tender age, I spend a lot of time in bed and I read an awful lot. An article I just read stated that Generation X and Millennials (18-36) are moving back in with their parents at a rate that hasn’t been seen since the Great Depression.
It’s been 70 years since the end of WWII, and already much of it is forgotten. Ask any teenager what the Battle of the Bulge is, or the Maginot Line, or Okinawa. Each of these involved the lives of tens of thousands of soldiers, but already they’re forgotten. War is the height of insanity for mankind. Hundreds of thousand of lives are lost, nations go into debt, and no good ever comes from it. In the US Civil War, two percent of the US population was lost. Of every four lives lost, three were caused by disease or infection.
I’m still living on daughter Lauren’s healthful diet. Lauren told me that her diet is basically Paleo. One thing she told me that I found shocking was that primitive man ate no carbohydrates, meaning our bodies are not built to process carbohydrates. I wonder if a lifetime of consuming carbs causes cancer, diabetes, and autoimmune diseases. Primitive man never ate sugar either, so the same goes for sweets. Food products often say “no sugar added,” but that doesn’t mean there is no sugar already in the product. You have to read the labels and count the sugar grams. I was drinking a lot of Ensure until Lauren told me the first ingredient is sugar.
The Secret To Aging
“Keep young and beautiful if you want to be loved” was the refrain of a hit song back in my youth, but things have not changed much. Most of America still wants to stay young and beautiful, and of course we all want to be loved.
I started with a new dentist today. The dentist’s assistant asked me how old I was, and when I told her 91, she then asked me the secret of aging. I told her there is no secret – one lives only as long as God wills it. I told her I operate on three premises: 1) That I and my loved ones are always safe, 2) I hear what I am supposed to hear, and 3) Each day I receive whatever sustenance I need.” I would urge all KWN readers around the world to subscribe to Richard Russell’s 91 years of wisdom and remarkable writings at Dow Theory Letters by CLICKING HERE TO SUBSCRIBE.
***KWN has now released the incredible audio interview with Stephen Leeb, where he discusses the chaos in global markets and China, what investors can do to prepare and protect themselves, why gold, silver, and commodities are headed higher and much more, and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***KWN has also now released the incredible audio interview with Egon von Greyerz, where he discusses the worldwide collapse, chaos in China, what investors can do to prepare and protect themselves, why gold and silver are headed to new all-time highs and much more, and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: China May Be In Chaos But They Possess A Staggering 15,000 – 18,000 Tonnes Of Gold CLICK HERE.
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