Richard Russell, a veteran investment newsletter writer, was recently quoted:
“During World War II, 60 million soldiers and civilians died. Those of us who survived detest war and all those who thrust innocent people into combat against their fellow man. Are we former savages waking up and following the spiritual path to love? Is it too much to hope for? I keep writing and hoping.
Now I want to bring that thesis into the present. I hear daily about the horrendous circumstances that the US faces — rising interest rates, hyperinflation, debt disaster, deflation, war in the Ukraine, war is Gaza, fading GDP, unemployment, Millennials moving back with their parents. And this is only a partial listing of potential troubles.
… Currently, I’m more interested in capital preservation than capital appreciation.
To do that I’ve positioned myself with silver and gold. I believe gold is currently locked in a trading range of 1200 to 1400. If gold breaks out above 1400, that’s fine with me, but I won’t be selling my gold. Sell it for what? Sell it for the paper that I originally swapped for my gold because I didn’t trust the paper (Federal Reserve notes)? I’m aware of history. History tells me that all fiat money ends worthless.”
Each and every day we are being given more confirmations of Richard’s statements and conclusions. It appears that those in power are posturing the masses for another war. War only promotes the agenda of those controlling the purse strings by manipulating the masses with fear and self-interest. When a crisis occurs, those in power pursue greater control by removing liberties of the masses. The embedded fear in the masses causes them to accept the change without a challenge. History reconfirms the ultimate result of this path: death and destruction. Love is the only answer. Why focus your time and resources on anything else of less importance?