Richard Russell Didn’t Like All The “Gloating” About The Silver Crash

Richard Russell

Newsletter writer and general doomsayer was not happy last week.

He didn’t like all the gloating over the Bin Laden death, and he didn’t like all the gloating about silver (via KingWorldNews):

Then there was the incredible cheering and gloating about the fall of silver. The media
and various experts were laughing and giving the “high sign” in reaction to the 30%
decline in silver. The only regret seemed to be that gold didn’t sink 30% along with
silver. And I wondered why all the cheering over silver’s decline. My conclusion was that
actually very few people were “in” silver and when silver rocketed up to near 50 dollars
an ounce, most investors’ reactions was “sour grapes.” And they grumbled, “Who were
those damn buffoons who made a killing in silver over the period of only a few months?

And he wonders whether there’s going to be some karmic retribution:

I don’t think I’ve ever seen so much gloating in the face of a plunge in a sector of the
market. And I wonder, just wondering, whether silver will now cross up the crowd by
bouncing back to a surprising degree.