Richard Russell Big Picture For Gold – Collapse In Russia, Commodities And A World Flooded With Liquidity

On the heels of the S&P downgrade of Russian debt, as the global markets impatiently await the FOMC decision, today the Godfather of newsletter writers, 90-year old Richard Russell, discusses the big picture of the collapse in Russia, commodities, and a world flooded with liquidity.

Richard Russell: “Many years ago I predicted that in the future, the missing and most wanted item would be INCOME. Today, with interest rates scraping zero, I believe that wealth trumps income. The world is struggling in the face of deflationary pressures. And although everybody and every nation needs income, income today is as scarce as the proverbial hen’s teeth.

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