With continued chaos around the world and uncertainty in global markets, today KWN is publishing a follow-up piece that was written by a 60-year market veteran.  The Godfather of newsletter writers, Richard Russell, discusses the big picture and what has China truly terrified.  Below is Russell’s tremendous piece. (ED Note: Here is the original piece: Richard Russell – Hyperinflation, Default, Bitcoin, Gold & China

Richard Russell:  “Everybody is now bad-mouthing gold on the basis of ongoing deflation or a lack of inflation.  But have these arguments been discounted in the current price of gold?  If they are already discounted in the price of gold — is that why gold is not breaking to new lows?  Or has gold already adjusted to all the bad-mouthing?

Below, GLD has gapped higher.  With all the negative talk about gold, why did GLD suddenly gap higher?  Has all the negative news been discounted, and is gold now looking ahead?

…continue reading HERE