Why is now the time to ''stay on the yellow brick road?''
*Dow Theory Letters, by Richard Russell, June 21, 2010:
''We're now in the process of building one of the largest tops in
stock market history. The result, I think, will be the most
disastrous bear market since the '30s, and maybe worse.
I think the key element behind this great bear market will be the
complete destruction of all fiat currencies. This has been a long
time coming. Fiat currencies are 'wealth' created by man.
They are created without sacrifice, without labor, without risk, and
without sweat. Basically they are an immoral device, created by
secretive bankers.''
''My old friend, Bob Prechter, is talking about Dow 400. I used
to think this was an absurd joke. I no longer think it's a
joke. The ultimate result will be a primary bear market shocking
in duration and extent.
As for gold, its stellar performance goes on. This in the face of
ominous warnings of various worried experts.''
''The world (minus the US) is loading up with the yellow metal with
banks running out of vault space. The great 10-year primary bull
market is moving into its 11th year. The bull market in gold
attests to the systematic decline in the value of the dollar compared
with real money - gold.
One of the greatest modern traders, John Paulson, who made billions on
the housing collapse, has, I understand, all his personal money in
gold-related items. Many of my subscribers have now built gold
profits beyond anything they have ever achieved before. I know at
this point one could get itchy fingers thinking of the profits
achievable by switching gold for fiat currency. I warn
subscribers, stay on the yellow brick road. The big profits, the
astounding profits, will accrue when gold finally bursts loose of its
prejudices and freely expresses itself.
My advice now is to put as much of your money as you're comfortable
with in bullion coins. Remember the simple phrase that's been
around through years of history -- 'There’s no fever like gold
fever.' Fiat money is doomed. Act on it.''
*This information is solely a highlight of the opinion of a third-party publication and is incomplete. Please subscribe to this publication for the full and timely opinion of the author and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
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