Marc Faber : Gold would not help you a lot in the case of civil unrest

Marc Faber : .... I’m not sure that gold would help you a lot in the case of civil unrest. But the point is this. If someone that you meet who is well-to-do and says gold doesn't pay any interest, tell him at the present time your deposits are not paying you any interest either. And in real terms, inflation adjusted, you are penalized. You are losing out by say 5 percent per annum because your cost of living increase are going up by say 5 percent and the interest is zero. So in this environment, you have actually an advantage to own a sound currency like gold vis-à-vis paper currencies where the quantity can be increased. And by the way, you ask your well-to-do people once, when did you travel overseas the last time? Haven’t you noticed how expensive Australia and Canada have become relative to the United States or Switzerland? And if they say, yes, Canada is now very expensive. And you say yes, that is a symptom of US monetary inflation that depresses the value of the purchasing power of the dollar.- in The Financial Sense NewsHour - 06 Apr 2012
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