Richard Russell – US Ponzi Collapse & A New Monetary System

In the aftermath of last week’s chaotic trading in global markets, today the Godfather of newsletter writers, Richard Russell, warned about the coming U.S. Ponzi scheme collapse, and how this will usher in a new monetary system.  He also discussed how it would impact global debt and hard assets such as gold, silver, collectibles, etc.

Richard Russell:  “Last week saw the D-J Industrial Average and the D-J Transportation Average hit joint new highs.  Ordinarily, that action should present a valid signal for further highs.  Only two items give me pause.  The first is the advance-decline line for the NYSE.  The chart below shows this A-D line running into resistance at a triple-top delineated by the horizontal blue line, which I have drawn in on the chart.



The second questionable item is the D-J Utility Average.  This average appeared in 1929, so it was never incorporated into classic Dow Theory.  Nevertheless, the Utility Average has a history of topping out three months ahead of the rest of the market.  Although, on occasion the Utilities have topped out simultaneously with the rest of the market.  I show the Utility Average below, and it does indeed appear to have topped out.


Read the rest of the article at KING WORLD NEWS.

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