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.
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?
© Copyright MMXII RagingGoldenBull.com