Richard Russell: Big Money Is Preparing For A Devastating Worldwide Collapse!

• Richard Russell – Big Money Is Preparing For A Devastating Worldwide Collapse!
  by www.kingworldnews.com  
  As people continue to digest breaking news out of Greece and around the world, the Godfather of newsletter writers, 90-year-old Richard Russell, warned that big money is preparing for a devastating worldwide collapse.  He also discusses what this will mean for major markets.
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  Richard Russell:  “The most important lesson in investing is never to sustain a big loss. With this in mind, I have and still do advise my subscribers to be out of all common stocks except for gold shares, and to be positioned in silver and gold bullion, holding the actual metals in a safe place. I also like the Central fund of Canada, CEF, which holds actual silver and gold in what I consider a safe place — Canada. 
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  Big Money Is Preparing For A Devastating Worldwide Collapse
  Speaking of panic, the auction prices for outstanding art and jewelry are up and off the charts. I just reviewed prices from Sotheby’s and Christie’s and items selling for over $100 million are not uncommon. Big money is paying close to this much for portable tangibles. Along with auction prices, amounts paid for select New York real estate are almost incomprehensible.
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  I ask myself why billionaires are willing to pay seemingly insane prices for outstanding tangibles such as Picassos and classic cars. They are preparing for the collapse of currencies and the days when rare tangible items will be a form of money. 
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