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Message: Comments from Richard Russell

Comments from Richard Russell

posted on Sep 18, 2008 03:44AM

Enjoy, Russell wants anyone who can read to read this. Bull

"Gold opened this morning up over fifty dollars to above 830 (Dec. gold). This tells me that the next crisis will be in the dollar. Gold is the safe haven for a deteriorating dollar.

Sadly, I must report that the Dow closed today down 449 points at 10609.66 -- a tragic close. This takes the Dow below 10725, which is the halfway level of the entire rise from the Dow 2002 low to the 2007 Dow high. The great stock market balance has finally tipped over to the downside, and the extent of the potential market losses ahead are now unknown. I was hoping that the downside of the Dow could be confined to the area above 10725, but this was not to be. I now urge subscribers to move as far as possible into cash and T-bills with a balance against catastrophe via gold coins.

I just spoke to my coin dealer, who told me that he is able to get sporadic groups of American Eagles, but Krugerrands are "off the market" and where available are selling at huge premiums. He can obtain Canadian Maple Leafs and in rare cases odd lots of various gold coins. The US mint is out of Eagles.

December gold closed today up 70 dollars to 850.50. Shades of 1979, and subscribers who were with me in the '70s know what I mean."

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