gold to come under pressure, page-32

re: gold ......... for the followers Here is Russell's latest on Gold:

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"Question -- Just for the sake of argument, let's say that 2003 turns out to be a mini-bull market year. If we do go into a mini-bull market, should we play it?

Answer -- Personally, I wouldn't. The situation is too "iffy." You'd be putting your hard-earned money into a bear market rally, which is always dangerous.

I'd rather put my money in an area where the primary trend is bullish. Which is where gold and silver come in. I've been advising positions in gold and silver for the past few years. I continue to advise positions in the precious metals.

Buy the coins, buy the gold stocks, buy the gold funds, but if you haven't already done so, it's not to late to take a position in precious metals. I think it's going to be a long and ultimately speculative bull market in the precious metals.

Gold has recently emerged from a 20-year bear market. After 20 year of going sideways to down, gold is despised, ignored, mocked -- and thoroughly sold-out. The majority of analysts and certainly the public don't understand gold. They've been brain-washed by central bankers who would rather produce and control their own fiat paper money. The central bankers produce paper currency, and they tell us "this is money." And for many decades a brain-washed public has accepted paper as money. But for how much longer?

Hey, I can take a piece of purple cardboard and tell you that "this is money." And if all the central bankers in the world agree with me, and the government tells us that purple cardboard is "legal tender" for all debts, then damn it, purple cardboard will be treated as money.

Until one day people start asking why gold is rising -- and why in hell purple cardboard is sinking against other nations' paper money -- then the trouble begins.

So say hello to today's fiat currency -- some people are beginning, just beginning, to ask why this junk paper should be called money.

Thought -- you can still trade your junk paper in for real money -- gold. And you can still swap your junk legal tender for stock in companies that produce real intrinsic money. They're called gold mines. Sounds like an interesting swap, don't you think? Junk paper for real intrinsic money that doesn't become worthless over time.

But why is this the time to make the swap? It's time because the word is out -- the Fed is manufacturing far too much junk paper. People are beginning to ask questions. And if people continue to ask questions, eventually the truth will out. And the truth will spoil the whole rotten central banks' scam.

The truth is that the dollar is not real money. You don't believe it? Then here's the test -- give me the definition of a dollar. The reason you can't is that there is no definition of a dollar. The dollar can only be described in terms of its relationship to other fiat money.

Oh yes, there used to be a definition of a dollar. A dollar used to be defined in terms of a specific quantity of silver or gold. But today, poor bastards that we are, we've got all our assets denominated in paper for which there is no definition.

The awful truth -- the Federal Reserve is pulling off the biggest scam in United States history.
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