Marc Faber Declares: “GOLD Bottomed”
Author of the ‘Doom, Boom and Gloom Report’ Dr. Marc Faber thinks the year ahead could see stocks as ‘dead money for a while’. He also thinks the gold price has probably now reached a bottom with strong Chinese buying balanced against a sell-off by investors in the West. Gold stocks are now one of the few recommendations he makes for the New Year aside from expecting a cyclical upturn in European multinationals…(arabianmoney)
Ed Note: Click HERE or on the image and you will be taken to where you can watch the 5 minute video where Marc elaborates on both the Stock and Gold Markets:
Ed Note: Other comments by Marc Faber all written on Sunday December 29th – 2013:
Western World: The Government Makes Up 50% Of The Economy
A Fiscal Grand Canyon
The money printers are responsible for this crisis. If we continue with this expansionist monetary policy we won’t be facing a fiscal cliff it will be a fiscal grand canyon. – in CNBC
QE Only Helps The Rich People
QE helps rich people whose asset prices go up and whose net worth then increases but it doesn’t flow to the man on the street who is faced with higher costs of living with price rises. You just have a small economy that is booming but the majority of the economy is damaged by QE. – in CNBC
QE Boosts The Price Of Warhols
The fallacy of monetary policy in the US is to believe this money will go to the man on the street. It goes to the Mayfair economy of the well-to-do people and boosts asset prices of Warhols. –in CNBC
The Next Fed Chairman Will Also Be A Money Printer
Bernanke is a money printer and, believe me, if Romney wins the election the next Fed Chairman will also be a money printer. – in CNBC
I Will Never Sell My Gold As Long As We Have People Like Bernanke At The Fed
I will never sell my gold as long as we have people like Bernanke at the Fed and fiscal deficits as far as we can see. – in CNBC
Related: SPDR Gold Trust ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG)
Money Is Not Flowing Into Economic Activity, It`s Flowing Into Asset Prices
The money (from monetary easing) does not flow into economic activity, it flows essentially into asset prices, into speculation. – in a recent FNN Australia interview
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
