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Below Richard Russell is quoted saying what we have been warning clients about since 1999. Please, protect yourself! 

I hesitate to say this because it's so extreme, but I believe the world is in a depression.  We're being lied to by a frightened and desperate government and Federal Reserve.  Sooner or later the US public is going to realize we're in a depression.  The government and the Fed will fight the gathering depression with lies and propaganda. To fight the depression, the Fed will open the money spigots wide, creating new trillions of "dollars."

Some wise investors are aware of all this, which is why gold continues to push higher (over $1300 an ounce today). IF we had the actual gold, I feel that the US would unilaterally raise the price of gold to $5,000 or $10,000 an ounce. The government is not doing this because we don't have the gold. Once the news of the US gold reserves being depleted is out, this will result in an unbelievable scandal. Once the dollar index closes below 80, the fireworks should start. How many items can the Fed manipulate? Sooner or later the Fed will lose its grip on bonds, the dollar, stocks or gold. I think gold over 1300 suggests that the Fed is losing its grip.

-Dow Theory Letters, February 13, 2014

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