Richard Russell: Worse Depression Than 1930’s Coming – Buy Gold/Silver

I think for anyone not more concerned about what who was wearing what at the Grammy’s than about what the future holds for their children, Richard Russell’s warning about the economic disaster into which the world (including and especially the United States) is about to collide is probably pretty obvious. But I wanted to post this interview with him from King World News:

I’m afraid that the prevailing forces of deflation will take over. If we go into a spiral of deflation, it will surely bring about hard times – harder times than the generations since WWII have seen. On this basis, I advise my subscribers to buy and hold physical silver and gold and be out of all common stocks.

I think it helps reinforce the message when it comes from someone who has been accurately writing about the financial markets since the 1950’s…

2 thoughts on “Richard Russell: Worse Depression Than 1930’s Coming – Buy Gold/Silver

  1. Richard Russell is a legend and is one of the best
    at finding value. I know because I’m a subscriber
    for the last fifteen years. That being said Dave, you
    are an active investor. How are you positioned regarding
    your account(s)? Do you fear a lockdown or substantial
    loss of equity ? Speaking for myself as an active trader
    I keep enough liquid to cover margin and daily trading.
    I sweep the account every three days if I exceed what is
    needed. If Richard Russell is nervous about what is going
    on then maybe we all should follow his cue. What say you?

    1. i’m short homebuilders, i hedge during periods of short squeeze by shorting near money puts. i’m short AMZN. long metals and miners. I’m sure eventually when the financial system collapses that all custodial accounts will be locked-down. a true hard core prepper would say to get everything you can out of the system and go off the grid as much as possible. That’s fine if you want endure what’s coming when the real shit hits the fan. but i’m not sure I care to stick around for that…

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