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Against the godsRichard Russell snippet May 25, 2010 -- "The bigger the top, the bigger the drop." Richard Russell The world is rushing into dollars. The world is clearly treating the US dollar as a "safe haven." As my subscribers must know by now, I view all sovereign fiat currency as questionable. As a matter of fact, I base the world disaster we're now going through on the widespread creation of fiat money. Once bankers (the Fed) realized that they could control the money of nations, they realized that they could control nations. In my own mind, I view central banks and fiat money as "against the gods." Central banks create fiat money, denigrate gold, and try to convince the people that the money they print is wealth. That's the great lie behind fiat money. I see one facet of this bear market as the beginning of the end of fiat money. No man and no organization can create wealth with the click of a computer. That's the great immoral fraud underlying this bear market. Smart investors, investors who know and understand history, are well aware of the fraud of fiat money. Which is why there is a bull market in intrinsic wealth today. Art dealers are amazed at the prices being paid at auction for top-tier art. Diamond dealers can't believe the prices being paid at auction for top-quality diamonds. No-nothings can't understand why gold is selling at historic highs in terms of various fiat currencies. I view the developing primary bear market as a great moral drama. It's the market's answer to man's greed and his ability to brain-wash his fellow citizens. The gigantic fiat house of cards is slowly coming undone. Wealth is created by the sweat of man and the brain of man. To create "wealth" by fiat money is fraudulent and against both man and the gods. Great bear markets invariably uncover great crimes. This primary bear market will be of historic proportions and earth-shaking proportions. ### Richard Russell
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