With gold holding near the $1,700 level, today the Godfather of newsletter writers, Richard Russell, had this to say about what is happening in the markets and on the streets: “Treasuries provide you with zero or minus yields. So, in general the little guy is stuck with whatever meager money his salary brings in after taxes. And as for savings, well, that's just the dream of a decade ago.”
Richard Russell continues:
“If the little guy is lucky enough to have a real job, he's angry at the big mucky-mucks on Wall Street or at the bankers who are pulling down millions. These guys (the suits) appear on Bloomberg with their green-striped or purple silk ties and talk about Greece or whether auto sales are flat or going a bit higher.
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