Russell on gold bullion
The central bankers believe they can control the quantity of fiat money so that the junk they create will always possess purchasing power. History tells us that the central bankers are dreaming (or lying). When it becomes obvious that the central banks are producing too much paper and are therefore devaluing their fiat currencies, seasoned investors take that fiat currency and buy Picassos or homes near some shoreline or collectibles or gem-quality diamonds — or gold Gold moves up when people worry about fiat currency, and they want to accumulate real money.
Source: Richard Russell, Dow Theory Letters, August 23 2007.
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Reinke Faces Life 