On a fairly quiet day in the markets, for those of you who are worried about the recent action in the gold and silver markets, just read this…
What better way to do that than to look at some of Richard Russell’s words of wisdom when the times were tough in the gold and silver markets. Here are some timely reminders from the Godfather of newsletter writers:
“Gold has been highly volatile over recent weeks. Thus, those who have attempted to trade gold must be poor and exhausted. I have sat with physical gold over recent months and have never suffered anxiety or lost a night of sleep. I never planned to create profits from my gold position, I simply wanted to retain my purchase power. So I bow to gold, the King of Currencies – in gold we trust…
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“The volatility in gold has succeeded in knocking almost all holders of gold out of their positions. As for me, I feel comfortable in my long-term tradition of gold and silver. After all the currencies collapse, these will be the two last men standing.”
“On a completely different subject, I want to return again to the concept of peace of mind. In my opinion, peace of mind trumps all other aspects. Without peace of mind, wealth becomes secondary. Without peace of mind, living becomes a burden and joyless. Perhaps this is why God created gold. Gold is the ultimate platform of wealth. It is one of the three items that the wise men presented to the infant Jesus.”
End Of Fiat Money And A New Monetary System
“The trash of fiat money will disappear, and silver and gold will take their rightful place in the world monetary system. As the old system is destroyed, a better and finer monetary system will grow out of the ashes. My blessings to all my faithful subscribers.”
King World News note: One of the things that made Russell so great was his patience. He had the ability to sit with his gold and silver for the long haul, despite major volatility, and he always slept better knowing that he owned physical gold. It gave him peace of mind. These have been difficult times for the gold and silver markets. Try to have the patience that Russell had. Hang on for the entire bull market into the eventual mania/repricing of gold. You will be glad that you did.
***KWN has just released one of the best audio interviews ever with Dr. Marc Faber that took place on a crystal clear phone line from Asia and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***KWN has also released the extremely important and timely audio interview with London metals trader Andrew Maguire and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: Look At What Is Happening With Gold, Stocks, US Dollar & Canadian Stocks CLICK HERE.
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