Legendary Richard Russell warns stay out of the stock market after yesterday’s carnage, stick with precious metals
King World News/8-25-2015
“After yesterday’s carnage in global stock markets, the Godfather of newsletter writers, 91-year-old legend Richard Russell, warned people to stay out of the stock market. He also discussed the Fed, gold, silver and the possibility of hyperinflation.”
MK note: Those who have read my writings over the years know of my respect for Richard Russell. I have always appreciated his direct commentary and down-to-earth analysis drawn from many years experience analyzing markets. As for the final outcome, I find it interesting that his concerns about eventual hyperinflation echo those of another long-term analyst of note, James Sinclair – even as the economies of the world flirt with disinflationary disaster. Though I am not in concert with him on the Great Reset and the gold price forecasted, I find this interview of Sinclair with former ABC News and CNN business reporter Greg Hunter at least interesting and worth watching with respect to the causes and effects of the present situation in the financial markets. Sinclair doesn’t quote his sources but he passes along an interesting piece of advice he received with respect to gold: “You probably will not want to sell gold’s next rally.” Some of you might be aware of Sinclair’s long term ties to important, old-money Wall Street families. As I say, worth watching. . . . .