“I Wouldn’t Hold My Gold in the U.S. At All” – Faber
By: GoldCore
GoldSeek.com
Friday, 7 November 2014
Dr Marc Faber has again urged people in the world to be diversified, own physical gold and to be their own central bank.
“I Wouldn’t Hold My Gold in the U.S. At All” – Faber
Dr Marc Faber has again urged people in the world to be diversified, own physical gold and to be their own central bank.
In another fascinating interview with Bloomberg, Dr. Marc Faber covered Japan’s massive QE experiment, the slump in oil prices and the importance of diversification and owning physical gold.
The interview was extensive and he covered a lot of ground which helped put the current major economic trends in perspective. The editor of the the Gloom, Boom and Doom Report, is always contrarian but always measured in his insightful analysis.
Japan’s foray into QE as a “ponzi scheme” in that “all the government bonds that the Treasury issues are being bought by the Bank of Japan” according to Faber. He said that in the short term Japan may not have to face consequences because “most countries are engaged in a Ponzi scheme.”
But he warned that “it will not end well.”
When the interviewer put it to him that various economic indicators such as jobs numbers in the US were positive recently he countered that these statistics” are published by the Obama administration, and therefore I would be very careful to take every figure for granted.”
He pointed to first-time home-buyers in the US, the number of which are at thirty year lows.
“A lot of people are being squeezed very badly because the costs of living are rising more than their salaries and wages.” The low home-buying figures show that people simply cannot afford to buy houses anymore demonstrating that no amount of cherry-picked statistics can gloss over the fact the US economy is not in good shape.
The Rest…HERE
