Richard Russell: Gold is the Safest Currency

Speaking at the Casey Research Gold and Resource Summit, Richard Russell told the audience, “I’d feel much better holding everything I own in gold. Holding dollars means holding a depreciating asset and I feel much more confident holding gold.” He went on to say, “The good part about gold is it can’t go bankrupt and it’s very hard to manipulate gold because it’s international. I know the Fed would love to manipulate gold but it can’t control it because it’s traded all over the world, every hour of the day and night.” We’ve got these highlights and more from a Q&A with Richard Russell in the video below.

Please click here.


Are you satisfied with the amount of gold you own if monetary and fiscal circumstances deteriorate? Are you prepared to profit from the mania in precious metals that Doug Casey projects is ahead? If not, start the year right with a risk-free trial to BIG GOLD, where we list the safest dealers to buy physical metal and the best stocks to profit from the ongoing bull market. Check it out here.
…..........................................................................

Many thanks to those of you who have recently signed up for options trading service, its very much appreciated. Please be patient as we have a number of new trades on the drawing board and as you are aware the timing of them is critical to their success.

Our model portfolio is up 138.05% since inception, Average return of 41.27% per trade, 67 closed trades, 65 closed at a profit or a 97% success rate. Average trade open for 43.21 days.






The above progress chart is being updated constantly. However, to see exactly how it is going, please click this link.

So, the question is: Are you going to make the decision to join us today, before we decide to cap membership.

Stay on your toes and have a good one.

Got a comment then please add it to this article, all opinions are welcome and very much appreciated by both our readership and the team here.


To stay updated on our market commentary, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address. (Winners of the GoldDrivers Stock Picking Competition 2007)

For those readers who are also interested in the silver bull market that is currently unfolding, you may want to subscribe to our Free Silver Prices Newsletter.

For those readers who are also interested in the nuclear power sector you may want to subscribe to our Free Uranium Stocks Newsletter, just click here.

Comments

[John Ell]

The question that is bugging me is about the gold situation. Most of the writers all seem to believe that at some time in the close future the gold price will rise way up, like $2G, $3G, and higher. Ok, I like that.
I have this gnawing thought, though, that the present administration in its inept planning will be looking for a way out of the hole in which they will find themselves, and will do what Roosevelt did by issuing an Executive Order to confiscate gold and silver. The Congress could declare that a serious emergency exists. The President will declare, as Roosevelt did, "that the continued private hoarding of gold and silver by subjects of the United States poses a grave threat to the peace, equal justice, and well-being of the United States; and that appropriate measures must be taken immediately to protect the interests of our people".
The President also took care of the debtors' problems. He devalued the dollar by 40% permitting debtors to repay their loans in depreciated dollars. He declared gold clauses unenforceable, preventing wealthy creditors from avoiding the impact of the devaluation. He arbitrarily fixed the price of gold, from $20.67 per fine ounce, to $35.00 per ounce.
A couple of opinions that I received from other newsletter writers, maintained that this scenario would not happen. Since I do not put much past the current very liberal, socialist administration, I feel that it could happen maybe not exactly the same way, but in some manner.
John

[gold bug]

Well let them try and fix the price. How are they going to control the price of gold in the overseas markets? how are they going to tell the Cinese, the biggest producers, what the value of their gold is ? We live in a different world to that of Roosevelt. Maybe for those of us who live outside the US it would be the best thing that could happen if it tried this.
Gold Prices thoughts would be of interest

[David]

Eee-yuck. Gold is down $45 in spot trading.