Marc Faber : The risk for investors is not to own any Gold

Marc Faber : " ...well basically , I think the risk for investors is not to own any Gold , but obviously it will also fluctuate like the dollar against the Euro moves it moves against the Yen it moves against the Swiss franc and so forth , and we could once have a period where the dollar strengthens somewhat under some conditions but quite frankly I do not see a huge downside risk for Gold let's say may be ten percent or so and I rather see that over the next five to ten years we will have substantially and I have to repeat substantially higher Gold prices or expressed differently substantially lower purchasing power of paper money , and I agree with what was said earlier that say under a rigid monetary system where you have let's say Gold as an anchoring in other words you have some kind of gold standard cash is a riskless asset , but in today's environment of money printing cash at zero interest rate is not a riskless asset it is actually very risky except for brief period of time , period during which asset markets correct on the down side " in CNBC Interview 14 July 2011