Don’t Keep Your Gold and Silver in the US, Says Marc Faber

Don’t Keep Your Gold and Silver in the US, Says Marc Faber


Gloom Boom & Doom Report publisher Marc Faber discusses the fragile state of the US and global financial systems… how rising inflation will affect the average American… how soon the bubble will burst… and why gold and silver will triumph.

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Here are a few highlights:

“The US is a country that likes to create trouble, but they don’t like to clean up things.”

“We’ve now been five years into the bull market and the US economy bottomed out in June 2009. We already had a crack-up boom—not in the economy of the typical household, but in the economy of the super-well-to-do people, whose asset prices rose dramatically and as a result created a huge wealth inequality.”

“My view would be that we have already printed so much money, and to accelerate it will be bringing about numerous other problems, so my time frame is that the [bubble], maximum, will burst in three years’ time.”

“Once the collapse happens, the power of central banks will be curtailed greatly because people will realize who brought along first the Nasdaq bubble in 1999: The Federal Reserve. Who brought about the housing bubble between 2001 and 2007? The Federal Reserve. And who is bringing now along another great credit bubble and asset bubble? The Federal Reserve.”

“I don’t think that anything is very cheap, but if I have to compare different asset prices, say real estate, stocks, bonds, commodities, gold, art, and so forth—and old cars—then I think that gold and silver [are] relatively inexpensive because they have had big corrections already, and you should not forget that the global bond market now is over $100 trillion.”

5 thoughts on “Don’t Keep Your Gold and Silver in the US, Says Marc Faber”

  1. Fuck him, if I have to I’ll go all Shawshank Redemption and bury it in a box somewhere out in the sticks and make a treasure map.

  2. Then there’s the lottery index, it takes jackpots approaching 1 billion dollars to generate the same level of excitement that 50 million dollar jackpots managed 25 years ago.

  3. As Iska Waran suggested, we can look south to get a glimpse of our future. Mexico reissued their currency at 1:1000 new pesos to old pesos, people holding debt instruments and savings or even cash took a bath as their net worth dropped by a factor of 1000. Of course, the big boys got out of pesos early and bought dollars. The WSJ announced the imminent float but El Presidente denied it to the Mexican people. Now that the Yuan is no longer linked to the dollar, it has been announced the Yuan may rise, which means the dollar will fall. Wal-Mart will be renamed Neiman-Marcus
    (dang, I love it when a sentence balances out).


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