As the world continues to digest breaking news out of Greece, today the Godfather of newsletter writers, 90-year old Richard Russell, covers everything from World War II, to God, gold, peace of mind and what to do in a financial hurricane.
Wealth Trumps Income
I’m sticking to my new thesis, that wealth trumps income. To translate, if you have enough wealth, you don’t need to gamble on items that hopefully will provide income.
It all has to do with my philosophical argument, which questions why we need more and more. Can’t we be happy with what we’ve got? The other half of my argument involves peace of mind. Again, I insist, that peace of mind is the most valuable commodity you can possess.
God, Gold And Peace Of Mind
Speaking of peace of mind, I note that gold minus the L spells God. And minus the G it spells old. It’s interesting that Russia, China and almost every central bank are now buying gold. And I wonder: is their gold a hedge against a future collapsing dollar?
I subscribe to Louise Hay’s three laws: I am always safe, I hear what I need to hear, and I receive whatever supplies I need for each particular day — no more and no less. Of course this jibes with the new rule of mine: the past is gone, and the future is unknowable. So I live for today. When you think about it, all anxiety and fear have to do with what may occur in the future. But since the future is unknowable, staying in the here and now is an excellent way of avoiding anxiety.
When A Hurricane Strikes
Late Notes – Gold was selling at 1279.30, and is still trying to close above 1300, which seems to be a line of fierce resistance. The gold miners were firm with GDX at 22.45 and GDXJ at 27.55. I’ve been promising myself to take a vacation – the first in 60 years — but I want to leave a last thought to my subscribers. “Wealth trumps income.” If you possess wealth in the form of silver and gold, you’re in good shape for what comes up. There is nothing wrong with standing still and holding on to a lamp post in the face of a hurricane. That’s where you are if you are sitting with silver and gold at this time.
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