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 central banks of the world are engaged in a desperate battle and that the ongoing financial crisis is leading people to take drastic measures in order to survive.

King Woirld News Pento 3:14:2015

Central Banks Of The World Engaged In A Desperate Battle

Richard Russell:  "The central banks of the world are pumping liquidity into the global economic system in an effort to thwart the current forces of deleveraging and deflation.

Meanwhile, Here Is What The Big Money Is Doing

The big money, the smart money, sees the picture, and they have been moving into tangible items, which tend to hold their purchasing power in the face of a dollar correction and possible eventual dollar collapse. Thus the auction dollar prices of great art, top quality jewelry, diamonds and classic cars have been exploding.

Here Is What People Need To Do To Protect Themselves

However the great mass of people cannot afford top quality auction items. Subscribers who cannot afford to buy Picassos or classic BMWs should protect themselves from the coming dollar collapse by buying silver and gold. The Fed, the guardians of our currency, has been doing whatever it can to keep the dollar price of gold down.

KWN Turk V 4:3:2015

No Fiat Money Has Ever Survived

These are historic times, and the fate of fiat money will be to face reality. Remember, in all history, no fiat money has ever survived. From the greenbacks of the US Civil War to the present, the history of all fiat currency has been the same. The Continentals of the 1700s led to the expression, “Not worth a Continental damn.” Silver and gold have retained purchasing power for 6000 years. Currency which retains its purchasing power by fiat always faces the same fate and becomes worthless." You can subscribe to Richard Russell's 90 years of wisdom and remarkable writings at Dow Theory Letters by CLICKING HERE TO SUBSCRIBE.

***ALSO JUST RELEASED: Bill Fleckenstein – A Massive Stock Market Crash Is Coming, Despite The Not So Invisible Hand Controlling Markets CLICK HERE.

© 2015 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 This material may not be published, broadcast, rewritten, or redistributed.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.

King World News RSS Feed

The audio interviews with David Stockman, James Turk, Rick Rule, Dr. Paul Craig Roberts, Bill Fleckenstein, Dr. Philippa Malmgren, Egon von Greyerz, Eric Sprott, Robert Arnott, Gerald Celente, Michael Pento, Marc Faber, Felix Zulauf, Andrew Maguire, John Mauldin, John Embry and Rick Santelli are available now. Other recent KWN interviews include Jim Grant — to listen CLICK HERE.

Eric King