Marc Faber : do like the Jews Invest in Gold

Marc Faber : I think in the coarse of my life I think if I followed what the Jews are doing you are usually on the side of winners in terms of money they are very smart at making money , I have numerous Jewish friends that have like either 80 or 100 percent of their money in Gold Silver or Gold silver mines and so forth and I have other Jewish friends that have between 30 and 50 percent of their money in Gold and Silver , so I personally have less , I have like now may be 20 percent of my money in Gold and Silver and in mining stocks but on any meaningful decline and I say that in every newsletter I write a correction can occur that is meaningful like Gold started its bull market in 1971 and it reached the peak in 74 of 197 dollars an ounce and then between December 74 and August 76 at the time the Dow Jones went up very strongly , the Dow Jones bottomed out in the bear market of 73 - 74 in December 74 but during that time of stocks going up of 74 - 76 Gold went down by more than 40 percent from 197 dollars an ounce to 104 dollars an ounce , that's a big big correction but then Gold went up 8 times , I am saying you know you buy Gold today I do not know may be it goes down a 100 dollars here it goes down a 200 dollars but looking at all the factors we discussed I do not believe that we are in a bubble stage, , because I have lived through the last bubble in the late 70s I can tell you that the whole world followed the Gold market day and night and traded Gold 24 hours a day like the whole world traded NASDAQ stocks 24 hours a day in 1999 and 2000 that has not happened yet we do not have a heavy weighting we do not have a heavy kind of euphoria about Gold at all , the risk today is not to own Gold but to not to own any Gold , if you have no gold at all I think you are taking a risk , and my advise is simple every month you put some money aside and you buy a little bit of Gold you do not worry about the price fluctuation buy every month a little bit and your grand children will be very happy about that unless the US government takes it away that is a possibility with Mr Bernanke just look at him he particularly not a honest looking character ..."
- in The Financial Sense NewsHour Interview