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Monday, March 23, 2009
Marc Faber Interview -Jan 29, 2008
This is a year old interview but for those interested in watching , it is really worth it : Marc Faber o discusses the economy and the gold and silver market
Excellent interview, Mr. Faber. One key point you make, and which we don't hear made often enough, is that GDP's and other data, as measured in US dollars, loses usefulness as the dollar loses value. The USD is an instrument of trade only by law, but it's no longer a true store of wealth, or a stable unit of measure.
If you look at GDP's in real terms rather than in terms of US dollars, the list of the largest economies in the world might look different. JMO.
Excellent interview, Mr. Faber. One key point you make, and which we don't hear made often enough, is that GDP's and other data, as measured in US dollars, loses usefulness as the dollar loses value. The USD is an instrument of trade only by law, but it's no longer a true store of wealth, or a stable unit of measure.
ReplyDeleteIf you look at GDP's in real terms rather than in terms of US dollars, the list of the largest economies in the world might look different. JMO.
Hi Marc,
ReplyDeleteI saw an interview where you say that 2,500t of gold is produced each year, which is less relative to the amount of money printed.
But how much gold to the reserve banks hold? Would they put this on the market if the gold went up too much relative to money?
Regards,
MB