With continued chaos around the world and uncertainty in global markets, today KWN is publishing a follow-up piece that was written by a 60-year market veteran. The Godfather of newsletter writers, Richard Russell, discusses the big picture and what has China truly terrified. Below is Russell’s tremendous piece. (ED Note: Here is the original piece: Richard Russell – Hyperinflation, Default, Bitcoin, Gold & China
Richard Russell: “Everybody is now bad-mouthing gold on the basis of ongoing deflation or a lack of inflation. But have these arguments been discounted in the current price of gold? If they are already discounted in the price of gold — is that why gold is not breaking to new lows? Or has gold already adjusted to all the bad-mouthing?
Below, GLD has gapped higher. With all the negative talk about gold, why did GLD suddenly gap higher? Has all the negative news been discounted, and is gold now looking ahead?
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