As people continue to digest breaking news out of Greece and around the world, the Godfather of newsletter writers, 90-year-old Richard Russell, warned that big money is preparing for a devastating worldwide collapse.  He also discusses what this will mean for major markets.

Richard Russell:  “The most important lesson in investing is never to sustain a big loss. With this in mind, I have and still do advise my subscribers to be out of all common stocks except for gold shares, and to be positioned in silver and gold bullion, holding the actual metals in a safe place. I also like the Central fund of Canada, CEF, which holds actual silver and gold in what I consider a safe place — Canada.

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