Monday, September 17, 2012

Invest in Gold but do not store it in America

Marc Faber : “the trend for gold prices will be steady but the trend for the dollar and other currencies will be down. So in other words gold in dollar terms will trend higher.”
“How high it will go, you will have to call Mr. Bernanke and at the Fed there are other people who actually make Mr. Bernanke look like a hawk and so they are going to print money.”
“You ought to own some gold but don’t store it in the US, the Fed will take it away from you one day,”
“eventually we will have a systemic crisis and everything will collapse.” - in Bloomberg

Dr. Marc Faber Tomorrow's Gold







Dr Marc Faber was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude. Between 1970 and 1978, Dr Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. Since 1973, he has lived in Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In June 1990, he set up his own business, which acts as an investment advisor and fund manager.