Richard Russell: Wild Speculation in Gold Lies Ahead !
- It pays to listen to the wise old man of investing: Richard Russell. Gold is going to at least US$10,000/oz IMO. Helicopter Ben Bernanke will not stop creating massive amounts of funny money via QE. If QE 2.0 doesn’t work it will be an even bigger QE 3.0: US$5T? $10T? The smart money is fleeing fiat currencies into hard assets: commodities and precious metals. KingworldNews.com :
Richard Russell – Wild Speculation in Gold Lies Ahead
“I learned from George Schaefer that big bull markets almost always end with a speculative explosion. …. Today I am taking the same stand regarding the gold bull market. The gold bull market will not end with a fizzle and a whimper. It will end with intense speculation and widespread interest from the funds and the public. We haven’t seen that kind of activity yet, but I’m convinced that a period of wild speculation in gold lies somewhere ahead.”
“This is why I continue to beg my subscribers to load up with gold. As I see it, we are nearing a period of intense speculation that will be beyond anything seen before by the last three generations of Americans. Ironically, more money (will be) made in the final explosion in gold than was made during the first two phases combined.”
“Great bull market are seen maybe once or twice in a lifetime. The current “stealth” gold bull market has sneaked up on most Americans. The very phrase, “gold bull market” is sneered at by most analysts today. In fact, most of the comments on gold today come in the form of warnings; “Gold is too high.” “Gold is in a bubble.” “Gold will sink back below 1000.” “Gold is a fool’s play.”
“Nonsense. Gold is moving ever-closer to it’s climactic speculative third phase. The negative comments about gold will only serve to make the gold bull market that much stronger. In this business, there is nothing more powerful than a primary bull market that has been denigrated, spat at, and held back for years.”
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