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.”
One theme he emphasizes over and over in the video is the collapse of the US dollar, and gold being the safest currency
Related ETFs: SPDR Gold Shares (NYSE:GLD), iShares Gold Trust (NYSE:IAU), ETFS Physical Swiss Gold Shares (NYSE:SGOL).
See the Q&A with Richard Russell in the video below: