With continued turmoil in global markets, the Godfather of newsletter writers, Richard Russell, issued some ominous warnings and gave some strong advice to investors in his latest commentary: “Save some cash, load up with gold and silver, and be patient. Get ready for a crime wave — a large segment of the population will do ‘whatever it has to’ in order to obtain food. Hungry men and women can be desperate and lawless.”
Richard Russell continues:
“If the government does not supply any additional stimulus, but it does supply additional massive QE’s, this will be a long, drawn-out situation, probably not becoming toxic until the years 2015 to 2017. This period will ultimately see pressure on the dollar with an accompanying collapse of stocks and bonds.