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.
Faber is always entertaining.
He loves the ladyboys in Chiang Mai. I rented a house down the street from him for about 15 months when I lived there until the smog from China got too bad.
The water is so bad this year they can not even use it to splash each other during their water festival – LOL. Glad I left that pollution pit.
Chiang Mai water ‘unsafe’ for Songkran
That’s interesting. That bad?
“ladyboys”?
The third gender ,Big Al.
If correct,Marc is an equal opportunity employer.
dave, you might be right not to underestimate the strength of the powers that be.
just a glance to the left of this page shows how the pm are controlled!
The majority of gold bugs , are correct, but, failed to see just how corrupt the system is.
A corrupt mind, eventually find it’s end. BUT, The question will be, just how long will it take the sheeple to discover that the system has failed. I think that it will take a long time.
Today…..CITI’S MEXICAN BANK…BANAMEX……IS under investigation for drug laundering
The FED (GOVT)…will just fine these SOBs, and no one will go to jail…..Because, it has already been established the DOJ,COURTS are just as corrupt and the dirty money banker trash, they are pretending to prosecute .
THEREFORE,,,the manipulation in the stock market, bonds, and real estate will continue, and gold and silver ,will have a hard time in getting out of this funk……
Very insightful
What did you think of the post yesterday pertaining to the Russian bank?
I thought the post concerning the Russian banks, was just another step forward in the demise of the dollar/oil as the reserve currency of the world.
Iran, Russia, China,Brazil etc……are moving ever more quickly in the agreement of removing the dollar as the reserve currency.
Yep, the Short!
Very true…..a long…..time…….
The French have decided to do a QE, OR what ever it takes……………
Greek bonds……are at 6% rated CCC…and we thought it was the end to the Greeks, this happened , how long ago..About three years ago,,,,this is probably why Mark F. says about THREE YEARS………HE IS JUST GUESSING…..
Interesting comment about the French. I have not seen it on the wires that I follow.
There is a great article at KWN….BY YAMADA, concerning the chart action on gold.,
chart action looks dreadful.
based on these charts expect more downside
Gold will move FINALLY…after Yellen says enough is enough we are UPPING QE…until then forget it……
Probably right SD. With QE ending in the US we have a big headwind to golds recovery as the printing presses finally get idled. This worry is now being doubly confirmed with QE highly likely to be initiated in the Eurozone which in my view is very gold negative as it will push the Euro down. Gold is still better than 40% correlated to that currency so it is meaningful in that context. Then we have the prospect of interest rate hikes coming in the US in early 2015 which is about the same as a cold shower with Justin Beiber for our favourite metals. Especially given their relationship to interest trends that usually send metals flaccid when they rise. We can easily guage confirmation of a spring 2015 change from the Fed as Mark Carney has said he will not rule out a rate increase for England prior to elections that come in May ths year. The mood has started to swing. The Bank of England in fact will likely be the first to start rates moving up ahead of the Fed. If you recall, Mark has already stated that BOE rates will rise sixfold between now and 2017. That statement was mindblowing for me when I first heard it and it was a wake up call to what the future portends. Lets not forget the signal this sends markets as most gold trading is done out of London. And that is why prices look to be pressured down to me. The combination of a rising dollar and rising interest rates in a low inflation environment are a killer for gold and silver. So in a nutshell…..if you were concerned about metals before then you had best be even more worried now. All the BS aside about Chinese buying and all the other crazy reasons gold SHOULD go up including the tired old “dollar collapse” theory might just amount to a hill of beans. Sentiments remain in the gutter. If I am correct and metals tumble in the next two weeks then we are set up and primed for an eventual retest of last years lows and we had best set aside our party plans for a big price surge in metals until next year…..yup….I am not kidding. It looks that bad to me right now.
Nobody here will believe it though…..but I have confidence I am correct.
Bird…next year is fine…or the year after….or longer…..if we are holding physical we are patient…the end result is what matters…the rest is just noise……regards…stay we’ll…
Interesting point SD. I think; however, that there are much bigger black swans flying overhead, and they are not seals!
Marc…given the global problems…and derivatives in the trillions….upping QE could come any day…..possibly over night……
Yes it could Gator.
Right now I am watching Europe.
Yeah, give it another fifty years.