The Phaserl


Richard Russell On The Chaotic Global Markets, Gold, Collectibles, Life, Health And The Secret Of Aging

from KingWorldNews:

Gold is the ultimate anti-Federal Reserve item. The Fed cannot create inflation by producing more gold, nor can the Fed create deflation by reducing the quantity of gold. The Fed hates gold because it cannot control it. Gold represents pure wealth.

Warren Buffett hates gold because he is in the business of compounding. And since gold throws off no interest or dividends, it is not possible to build wealth through compounding with gold.

Turning to the markets, I’m wondering whether the Chinese crash will put a top on the price of many collectible assets such as art and real estate. It looks like China is setting the way for the global economy.

I liken the market to a car in which one foot is on the accelerator and the other foot is on the brake. Tremendous heat is being generated, but which way is the car really headed? Another thing that bothers me is … the distribution days … too many for comfort.

At my tender age, I spend a lot of time in bed and I read an awful lot. An article I just read stated that Generation X and Millennials (18-36) are moving back in with their parents at a rate that hasn’t been seen since the Great Depression.

It’s been 70 years since the end of WWII, and already much of it is forgotten. Ask any teenager what the Battle of the Bulge is, or the Maginot Line, or Okinawa. Each of these involved the lives of tens of thousands of soldiers, but already they’re forgotten. War is the height of insanity for mankind. Hundreds of thousand of lives are lost, nations go into debt, and no good ever comes from it. In the US Civil War, two percent of the US population was lost. Of every four lives lost, three were caused by disease or infection.

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