Richard Russel Fears that Money will Die

Richard Rus­sell is con­vinced that we are in the End-Game of this finan­cial regime and that mon­ey will die because of the Fed­er­al Reserve inter­ven­tion and gov­ern­ment manip­u­la­tion.

Richard Russell

Richard Rusell was one of the first News Let­ter authors

Here is what he had to say:

At any rate, I’m per­son­al­ly torn between putting all my assets into bul­lion gold coins or leav­ing half in gold and half of my assets in US dol­lars. Very frankly, I’m no longer even think­ing of mak­ing mon­ey in the mar­kets — I just would love to keep my pur­chas­ing pow­er intact. On top of that, I don’t trust the gov­ern­ment, and I don’t trust the Fed or the Trea­sury. In their demand to mak­ing Fed notes the only legal ten­der mon­ey, I believe the Fed (and the gov­ern­ment) would stoop to any trick or law or machi­na­tion to ensure that Amer­i­cans must accept Fed notes as the only legal ten­der mon­ey.

The gov­ern­ment (Con­gress?) could pass a law out­law­ing any trans­ac­tions in gold or sil­ver or any pre­cious met­al. The gov­ern­ment could halt the trad­ing of gold or gold ETFs. Or there might be a dozen tricks that the gov­ern­ment could use that would out­law the use of gold as legal ten­der. Then, there are always tax­es as a bar­ri­er to even own­ing or trad­ing gold. As it is, the IRS treats gold as a col­lectible and tax­es you when you sell your gold.

So I dun­no, hold all your assets in gold bul­lion coins? Frankly, I’m afraid to. The bankers demand that I use their rot­ten fiat notes as mon­ey, and believe me, the bankers (the Fed) run the coun­try.

Thus, I am doomed to hold some dol­lars, and, in turn, my dol­lars are doomed to lose pur­chas­ing pow­er month after month, and year after year. Talk about rob­bery!

What about own­ing stocks as a way to keep your pur­chas­ing pow­er? Bill Gross of PIMCO thinks stocks will be a lousy invest­ment over com­ing years, and he thinks bonds will be even worse.”

Well sober­ing thoughts indeed but accord­ing to Jim Sin­clair there will be no chance of Gold-Con­fis­ca­tion — But does any­one real­ly know?


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