Marc Faber : Gold is still Inexpensive

Marc Faber : I have looked at the government debt in the mid 1980s and I looked at the monetary base in the mid 1980s then I compared to an average Gold price of the 80s and 90s , I can tell you as of today the Gold price is probably cheaper than it was ten years ago although in nominal terms it is up 4 , 5 times . But compared to the monetary base and compared to the government debt and compared to the increase in wealth in the world and especially compared to the increase in international reserves , the FOREX reserves have gone from the mid 1990s from a trillion dollars to ten trillion dollars but the gold price has not gone up ten times , so I think the gold price is low , having said that we had recently a little bit oif euphoria in the gold market and a correction is overdue may be ten percent , I think if the gold price drops a 100 , 150 dollars there will be a lot of dires coming in including myself  - in CNBC Aug 2nd 2011