Author Topic: Is Richard Russell Right?  (Read 11397 times)

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Offline pandamania

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Is Richard Russell Right?
« on: November 17, 2011, 11:45:11 AM »
I consider myself an investor/collector of Chinese Coins but my background is in finance/investing. Over the last 10 years I have paid very close attention to certain authors with regard to metal prices and drawn investment conclusions based to a large degree upon their technical and fundamental knowledge. While there are many outstanding individuals who have been on target with regard to this metals market there are some whose every article I consider a must read.
Yesterday I posted an article by Alf Field who is one of those gifted people and today I`d like to post the latest words of Richard Russell, an investment icon for the past 50 years (For those who may not have read it - his writings can also be found on the 321gold website).

http://www.321gold.com/editorials/russell/russell111711.html

Others that I feel have been "spot on" include Bill Buckler of The Privateer Newsletter out of Australia and of course the master Jim Rogers.

My reading list includes many others but I am certainly happy to have listened to the advise of these individuals.


Offline pandamonium

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Re: Is Richard Russell Right?
« Reply #1 on: July 13, 2012, 09:19:50 AM »
The best author I have read online was Bob Chapman of International Forecaster.  Sadly Bob recently passed.  God Bless him.  Richard Russell is mostly correct.  The facts are obvious.  The printing of world currencies will lead to a collapse of the US dollar or petro dollar, world wide.  Precious metals are manipulated so other countries can increase their metal reserves and the US dollar can stay above water another day.  The system of things will fall apart.  When it does all heck world wide will break lose.  The production and distribution of food will fail.  Peak oil has been reached so there is zero chance the US economy will bounce back as we need cheap oil to develope a strong economy.  When the US dollar collapses then it will take about 4 yrs to gain confidence in another currency.  Food shortages, riots, etc worldwide is expected.  I read these articles almost 7 yrs ago and now it is all coming true.  Our world is based on cheap oil and it is gone.  I am not negative.  Time to prepare.  The Bible calls this the days of Great Sorrow.  Anyone that can read can figure out what will happen...................

Offline pandamania

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Re: Is Richard Russell Right?
« Reply #2 on: July 13, 2012, 09:43:42 AM »
I always wondered how you got your name, sounds like future pandamonium!

Offline exchange

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Re: Is Richard Russell Right?
« Reply #3 on: July 13, 2012, 10:16:08 AM »
Back in December of 2011, I wrote something on silver bullion. So far I am glad I did. If I am going to overpay for silver it better be a Chinese modern coin and not bullion.

"My two cents on silver..... maybe this should be in its own thread but seeing what is going on with the 2012 silver dragon, this seems to apply.

Makes you wonder really how scarce silver is. That is one thing I always did not understand. Many silver people insisting the supply of silver is low and that we will run out of silver, etc...

My point was always if silver is really scarce why would so many government and private mints make silver coins and medals in the hundreds of millions. The US alone this year will mint 45 Million American silver eagles, thats for just one country, one serie and in one year. Mints around the world are minting silver coins at record pace. If it was indeed rare, none of this would be happening.

A look at some of the estimated silver coins been minted this year alone.
Estimated sales for 2011 1 ounce coins:

2011 American Silver Eagles: 45 Million ounces
2011 Canadian Silver Maple Leaf: 35 Million ounces
2011 China silver pandas: 6 Million ounces.

Thats why I have been slowly selling most of my silver bullion from $45 and downwards, I said "Most" you just never know. Bought most of it between $10 and $15. Been selling and swapping for particular Chinese silver coins as shown from my "post your newest modern chinese coins" over the last few months. The way I see it, if silver goes to $100, and thats a big "IF", then I beleive my silver chinese coins will perform much better. If silver goes back to $10, I don't think my chinese coins will go down that much precentagely."



http://china-mint.info/forum/index.php?topic=3605.msg26609#msg26609

exchange
« Last Edit: November 30, 2012, 06:49:34 PM by snowball »

Offline pandamonium

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Re: Is Richard Russell Right?
« Reply #4 on: July 13, 2012, 10:26:41 AM »
I grew up in the sticks and our only entertainment at the time was Portland Wrestling.  TV was very different then.  Pretty soon you saw WWF or WWE develope and "pandamonium in the wrestling ring" was a common term.  So there you go.  All of us on this forum are very fortunate to receive the information we get.  Buy food supplies, precious metals will go to the moon.  We are ahead of the herd.  Better to be in a position to protect what you have then out beating the streets looking for resources when the system collapses.  It is mind boggling how many people know a collapse is coming but they refuse to prepare.  We forum members are very fortunate.  My prediction for silver is still $1,000 oz or about $100 for each junk silver dime.  Silver will become money and gold will buy homes, etc.  Junk silver is recognized as currency so the premium on it is going up higher now then regular bullion.  Silver should have a larger upside then gold..............

Offline shibaji

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Re: Is Richard Russell Right?
« Reply #5 on: July 14, 2012, 04:06:46 AM »
$1000/oz silver is too much man! :-)

Offline pandamonium

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Re: Is Richard Russell Right?
« Reply #6 on: July 14, 2012, 09:14:30 AM »
My estimate of $1,000 is lower than many others.  Richard Russell is basically saying a collapse is coming too.  The key word is derivatives.  LTCM, Long Term Capitol Management went bankrupt from derivatives and PBS has a very good documentary on that.  President Clinton repealed Glass-Steagel and allowed NAFTA, which sent our manufacturing overseas.  The US does not manufacture so it can only create debt.  President Bush (league) unleashed the derivative monster which will lead to world wide collapse.  President Obama came into office and found out the US cannot pay interest on debt, so not much damage he could do as it was already Mission Accomplished.  How corrupt are we?  I do not know how to put links on CCF so will send email to shibaji and maybe he can link it here.........

Offline ghostrider80811

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Re: Is Richard Russell Right?
« Reply #7 on: July 14, 2012, 06:15:10 PM »
Interesting perspectives from all sides and I can agree on about 80% of the things said here but I fear digital money will be the new form of money as its easier to tax once everything moves digitally (think control) BUT Gold and Silver will be the savior of the underground economy.  When will this happen?  Who knows!?  Plan accordingly...

Offline pandamonium

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Re: Is Richard Russell Right?
« Reply #8 on: July 16, 2012, 01:08:24 PM »
catalyst?   Shots fired Gulf of Hormuz.  Not good news as Iran has voted to shut the strait(narrow passage) down..............

Offline badon

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Re: Is Richard Russell Right?
« Reply #9 on: July 16, 2012, 11:05:11 PM »
I sincerely hope nothing interesting happens. No news is good news.

Offline pandamonium

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Re: Is Richard Russell Right?
« Reply #10 on: July 16, 2012, 11:18:19 PM »
The report is the boat fired upon was not from Iran.  Maybe it was tourists on a 3 hour tour.  Probably a test of our defense................

Dragons_Are_Silly

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Re: Is Richard Russell Right?
« Reply #11 on: July 17, 2012, 12:28:41 AM »
Maybe it was tourists on a 3 hour tour. 

Hope it wuznt  Gilligan     he funy

Offline pandamania

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Re: Is Richard Russell Right?
« Reply #12 on: October 02, 2012, 10:16:31 AM »
Here`s the latest interesting view from Richard Russsell:

http://www.321gold.com/editorials/russell/russell090612.html

Offline pandamonium

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Re: Is Richard Russell Right?
« Reply #13 on: October 02, 2012, 05:00:36 PM »
Richard Russell makes alot of sense.  $10,000 oz gold.  How much will silver be?  Precious metals have no where to go but up in the long term.   Maybe in the short term we could have another price destruction like last year?   Maybe it is just a manipulated and temporary drop in price?............ ..
http://www.silverseek.com/article/silver-market-update-6686

Offline badon

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Re: Is Richard Russell Right?
« Reply #14 on: October 05, 2012, 04:30:23 PM »
That is interesting. He is quite likely to be correct. It seems almost inevitable that what he suggests will be implemented at some point in the near or far future.