- Richard Russell – Gold & Silver Being Bought Up By Billionaires!
With gold remaining in a trading range below the $1,700 level, the Godfather of newsletter writers, Richard Russell, had this to say about what is happening with regards to gold, silver, stocks, inflation and the Fed: “Technically, both the US and Europe are dead broke, and their GDPs would have to run wild on the upside to make the debt to GDP ratio more acceptable. How will it all end? It will end with the central banks churning out junk fiat inflation-adjusted money in order to service the debts. Meanwhile, the precious metals and other tangibles are being bought up by millionaires and billionaires as they await their turns to feast on the remnants.”
The feature of the day (Friday) was gold, with April gold closing up almost $20. And little mister silver up almost a dollar. Are they thinking about inflation somewhere ahead? I think so. Remember, the precious metals may rise well before obvious signs of inflation. They call it discounting.”
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