kingworldnews.com / August 25, 2015
After yesterday’s carnage in global stock markets, the Godfather of newsletter writers, 91-year-old legend Richard Russell, warned people to stay out of the stock market. He also discussed the Fed, gold, silver and the possibility of hyperinflation.
August 25 (King World News) – Blood In The Streets
Richard Russell: “This is what blood in the streets looks like. (Yesterday) The Dow opened down almost $1100 points in the first three minutes. Three minutes later it bounced almost 700 points higher. As I write midmorning, the Dow is down almost 400 points. With this action I presume that the Fed will not increase rates, as rising rates are the last thing this market needs.
This morning shows us what panic can do. We saw panic on the downside and panic on the upside. And then it slowly turned to calm. The big question now is whether the market will test the morning lows. In the meantime the safest place to be is in gold.