Late last year, Richard Russell gave us the key to the bull market in gold and the bear market in global stock markets. This is the second in a series of releases KWN will be publishing on the wisdom passed down from the Godfather of newsletter writers.
(King World News) – From legendary Richard Russell: “I want to start this site off with a bow to Fred Hickey, who puts out The High Tech Strategist. Hickey is a prodigious worker and reads everything. Fred is a true believer in gold and I read his work carefully.
…Americans are scared to death and befuddled by the news of the day. They are well aware that their own lives and jobs have little to do with the nonsense that the Fed and the government is shoveling out to them.
Early Stages Of A Historic, Primary Bear Market
I’m afraid that we’re in the early stages of a primary bear market. Each bear market has its method of attack…Bear markets are sneaky beasts and they like to do their damage as secretly and as unobtrusively as possible. I hate to say it but somewhere ahead, the bears going to get it all together and the innocent little stream is going to turn into a waterfall.
What can you do about it? Stay out of the market? Protect yourself by remaining in pure wealth, gold. For thousands of years, silver and gold have been treated as pure wealth. As the standard measures of wealth (stocks and bonds) have deteriorated, veteran investors have forgone profits and moved their assets into pure wealth.
I think the calm and easy part of this bear market has drawn to a close. We are moving into the high drama portion. Politically, I noticed a cartoon that tells a story. A hugely muscled and bare chested Putin is on the beach. Obama is sitting in the sand while Putin is kicking sand in Obama’s face. The question — how much sand will Obama eat?
Chinese And Indians Buying Gold In Huge Quantities
In the meantime, the story is that worried Chinese investors are dumping their stocks and buying gold in huge quantities. They are emulating the Indians, who are buying gold in huge quantities.
The year ahead is guaranteed to provide surprises and I sincerely hope that one of them will not be WWIII. I think Putin will push Obama as far as he can go, short of war. But mistakes happen, which is one reason why gold is creeping higher.
Breach Of $1,250 Confirms New Bull Market In Gold
I use $1,250 as the point of no return for gold. If gold betters $1,250 and stays there, I think we will have confirmation of a new bull market in gold.
Gold demand from China, India, Russia and other nations continues to be enormous. Chinese imports through Hong Kong in August were more than double that of a year ago. And gold withdrawals to the Shanghai exchange have been huge.” King World News note: Gold recently took out the $1,250 level that Russell warned was the key, but it has pulled back below that important target. If gold can break back above and remain above $1,250, that would trigger Russell’s bull market call for gold. This also explains why there has been such a fierce battle raging near the $1,250 zone. How did Russell know it would unfold this way?
***KWN has now released the incredible audio interview with former White House official Larry Lindsey, where he discusses the coming chaos, gold, and how to take back control of our money, and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: Fleckenstein On The FOMC’s Announcement, The Effect of QE4, And Will Blockchain Impact Gold? CLICK HERE.
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