Richard Russell: Gold Is Not A Bubble

"I've seen a number of bubbles in my life, and they have all been associated with huge and frenzied participation by the public. Think of the tech bubble, the housing bubble, every bubble was characterized by broad and frantic public participation.

Who do you know owns gold or has any gold stocks or ETFs today? Ask 20 people at an investment conference whether they have participated in the gold bull market, and you will be shocked at how few have entered the great gold bull market.

So if gold is in a bubble, it's a bubble in the minds of those who have completely missed the gold bull market. Public participation in the gold bull market has, so far, been unbelievably thin in the US. If gold is in a bubble, it's a bubble unlike any that I have ever seen before."

Richard Russell

2011 Will Be A Black Swan Year

“This year might even be a black swan year. Certain events are now in place, events that have never been seen before in human history. We are dealing with debts so monstrous, so huge, that most people can’t fathom them. The Muslim community is huge, and it has moved heavily into many European nations. The radical Muslims intend to express their world leadership. Dictators in North Korea and Burma and Iran and Africa are no longer safe in that they can no longer keep their populations ignorant and in slavery.

There is a huge disparity between the wealthy and the poor. The poor greatly outnumber the wealthy. This has all the ingredients for revolutions in the age of instant and world-wide communication.

The makings of a “black swan” event are in place for 2011."

Richard Russell