In the December issue of Intelligence Report, Dick Young writes:
The rigged (check with the Fed) financial markets are increasingly imperiled by the domination of high-frequency trading and highly leveraged derivatives. Serious investors look on from the outside and make up but a small, insignificant component of daily trading. In other words, you and I are but interlopers. Those that have generated impressive performance over the last four or so years are the ones prescient enough to have projected that (1) the Fed would, for the first time in history, sit on its hands regarding interest rates for the duration of an economic recovery, (2) oil prices would collapse during the extended period of economic growth, and (3) gold would collapse in price as the Fed gunned the money printing presses at a white-hot rate.
Hard to believe that there were in fact any such folk on the planet, in that the scenario I have detailed for you here has zero historical precedent. What I am saying is that you and Dick Young have been carried along through a multi-year surreal and thoroughly unpredictable financial fogbank—flying blind, so to say.
As I write, the fog has yet to lift. But the ride is becoming increasingly bumpy as the cyclical economic engine begins to sputter […]. Once out of the fog, what lies ahead is not a clear, broad expanse of landing runways, but rather jagged mountain peaks and powerful downdrafts. You can survive, but not without a lot of savvy and assistance. I have spent over five decades steering through tumultuous markets. I have survived and prospered despite the magnitude of temporary dislocation. And today I can guide you on your way to safety and security if you adopt the exact plan of attack I lay out for you clearly in these monthly financial and personal security strategy letters. If you do not follow along as suggested, well, I guess you will just be on your own with, of course, my prayers for your family’s safety.