By Richard Russell in Dow Theory Letters:

Somewhere ahead I expect to see a worldwide panic-scramble for gold as it dawns on the world population that they have been hoodwinked by the central banks' creation of so-called paper wealth.

You can't create wealth out of a computer - you create wealth from the sweat, intelligence and risk-taking of men.

Gold comes from a gold mine. A gold mine represents the expenditure of capital, risk-taking, the sweat of hundreds of men - and courage. A gold mine's product, gold, has represented timeless wealth since Biblical times. No central bank has ever produced a single ounce of gold. Nor has any central bank ever produced a single element of true, sustainable wealth.

In their heart of hearts, men know this. Which is why, in experiment after experiment with fiat money, gold has always turned out to be "the last man standing."

Crux Note: Learn more about the excellent Dow Theory Letters here.

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