By Richard Russell
As I write, 15 minutes before the close, the market is doing little, seeming to mark time and wait for more information about the economy. I suspect that the US economy is almost in recession; this despite the propaganda from the Fed and the Obama administration. If my suspicions are true, and the US economy is staggering, there will be a panic to get out of US dollars.
The sluggish economy means that the Fed will not be able to raise rates until 2016, if not later. My advice continues to be: hold physical silver and gold. If my thinking proves to be true, we will see skyrocketing prices for the precious metals ahead.
Gold is trading at 1198, still pressing against resistance at 1200.
God bless America, the home of the brave and the beacon of democracy, and the only nation that dares to say, “In God we trust.” ... Log in or subscribe to continue reading.