"The whole concept of a stealth deflation is now dawning on many of the smartest investors in the world. It is also dawning on the various central banks of the world. As the truth sinks in, these central banks, in their tortured confusion, are halting their sale of gold for garbage currencies -- and they are rapidly reversing their stands. They are now BUYING gold. China and Russia both openly admit that they want to increase the gold percentage of their reserves. India has just done so in buying 200 metric tons of the gold that was so stupidly offered for sale by the IMF.

As I see it, the trend is in place. The rush to own gold is on. It's starting very slowly and conservatively with gold increasing against fiat currencies by 2% to 5% a week. To many people, gold seems "too high," "too expensive." The poor ignorant fools don't see or understand that fiat currency is being denigrated before our eyes, and it is doomed. The fact is that it's really the currencies created by the central banks that are far too expensive. In fact, the real question is -- five or ten years from now, will fiat currencies be worth anything at all?" Richard Russell - Dow Theory Letters

Russell began publishing Dow Theory Letters in 1958, and he has been writing the Letters ever since (never once having skipped a Letter). Dow Theory Letters is the oldest service continuously written by one person in the business.

Russell gained wide recognition via a series of over 30 Dow Theory and technical articles that he wrote for Barron's during the late-'50s through the '90s. Through Barron's and via word of mouth, he gained a wide following. Russell was the first (in 1960) to recommend gold stocks. He called the top of the 1949-'66 bull market. And almost to the day he called the bottom of the great 1972-'74 bear market, and the beginning of the great bull market which started in December 1974.

The Letters, published every three weeks, cover the US stock market, foreign markets, bonds, precious metals, commodities, economics --plus Russell's widely-followed comments and observations and stock market philosophy.

In 1989 Russell took over Julian Snyder's well-known advisory service, "International Moneyline", a service which Mr. Synder ran from Switzerland. Then, in 1998 Russell took over the Zweig Forecast from famed market analyst, Martin Zweig. Russell has written articles and been quoted in such publications as Bloomberg magazine, Barron's, Time, Newsweek, Money Magazine, the Wall Street Journal, the New York Times, Reuters, and others. Subscribers to Dow Theory Letters number over 12,000, hailing from all 50 states and dozens of overseas counties.