Marc Faber On What Is Happening to The Gold Market ~ Bloomberg

Why hasn't the GOLD PRICE Held Up? - Marc Faber On Bloomberg

Local gold stocks are taking a big hit this morning after the price for the precious metal fell into bear market territory in offshore trade on Friday, sinking to its lowest level since August last year. This outlook is even direr for gold. The plunge in the gold price has pushed the ASX's gold stocks sub-index down 7.7 per cent in early trade. The precious metal was trading at $US1493.45 this morning, down 4.2 per cent from local trade on Friday. US investment bank Goldman Sachs put a ''sell'' on the metal last week, which sparked an early sell-off. But IG strategist Evan Lucas said it had come under even more pressure from technical selling, as it broke through the $US1522 support level to fall to $US1483. ''The bears roared even harder towards the end of last week as soft data led to analysts making the call that a period of deflation is on the cards, as the US stimulus package floods the market, but is not followed by any discernible changes to the economy,'' he said. ''This outlook is even direr for gold.'' Thomas Averill at Rochford Capital said gold had also fallen on the back of concerns that America and other G20 countries would criticise Japan at the upcoming G20 meeting over monetary policies that have weakened the yen and as a result, gold. ''I think you'll see the Japanese reassure world leaders that their new monetary policy is not designed to deliberately weaken the yen,'' he said. Mr Averill said it was only a short-term problem for gold, which would pick up later in the week. ''I would say that gold shouldn't lose much more,'' he said. ''The G20 meeting is a bit of a distraction, but after this week, we are predicting a resumption of the yen trade, which supports the gold price.'' Burrell Stockbroking adviser Jamie Elgar said the recent rally on stock markets - Wall Street posted record highs last week - had also dampened demand for gold. ''I think gold started to come off over the last couple of months as people started becoming more confident in equities,'' Mr Elgar said. ''Particularly as the economic data out of China and the US was looking pretty good.'' Shares in Australia's biggest listed gold company, Newcrest, fell 7.5 per cent this morning to $18.26. Here's how some of the other local gold miners are performing: Kingsgate Consolidated: Down more than 12 per cent Alacer Gold: Down more than 15 per cent Precious metals investors can't look back at this week's declines in gold and silver and not be a little upset. But it's important to keep in mind that nothing happened this week that reversed the decade long bullish trends for gold and silver. So, keep in mind that for over a decade gold and silver have gone up for a reason; the mismanagement of the world's monetary system by the global central banks. That plus all financial assets today have huge counter-party risk thanks to the fraud plagued OTC derivatives market, whose notional value is in the hundreds of trillions. Physical gold and silver have no counter-party risks for their owners, and this makes them especially attractive to forward thinking investors. This lack of counterparty risk also makes the old monetary metals objects of ridicule by the global financial industry, who market fraudulent "financial assets" by the trillions of dollars, euros and other currencies. Are there any indications that central bankers have seen the error of their ways at the end of this week? Good grief no! The Bank of Japan has reaffirmed its commitment to destroy the yen as an economic asset, and the ECB is scheming to confiscate Cypress's "excess gold reserves". Our Doctor Bernanke is no monetary slouch either. Look at the post credit crisis Federal Reserve's balance sheet in the chart below. Since 2008 the supply of newly created digital dollars has exploded. If US Currency in Circulation (CinC / Green Plot) lags behind the growth in digital dollars (Blue and Red Plots), it is most likely because the Earth doesn't grow enough cotton to supply both the world's textile mills and the US Treasury's need for high-grade cotton based paper for its paper money production. That's a scary thought that just might be true!

Marc Faber latest Bloomberg interview - 19 Aug 2011

Dr. Marc Faber interviewed by Bloomberg TV on 19th August 2011 - Marc Faber : " well actually it may not ( The treasurys bubble) burst for a while because obviously the FED will keep short term rates at close to zero for extended period of time and likely there will be some wither official or unofficial type of QE3 and QE4 , but in my view an investor who today buys a ten year treasury with this kind of yield it is today at 2.08 percent is not going to make any money in the next ten years either because yields will go much higher or because the dollar will go much lower "

Marc Faber : not to own any Gold is to trust central bankers and that you do not want to do in your life

June 23 2011: Marc Faber, publisher of the Gloom, Boom & Doom report,interviewed in Honk Kong by Bloomberg talks about his investment strategy and the outlook for global financial markets said that he Likes Gold, Silver and Will Keep Accumulating Gold : ...Yes I still like Gold and Silver but I think they'll go down for the next three months or so but I wouldn't short them and I keep on accumulating gold , I think Gold in the long run not not to own any gold is to trust central bankers and that you do not want to do in your life

Marc Faber, I see a boom everywhere except for the working class

May 25 (Bloomberg) Marc Faber : ..recession in China could be a technical recession , if you go and slow down from a growth rate of say ten percent to a growth rate of three percent then there is a recession , also I do not believe in the growth rate that China publishes , because if you had adjusted nominal GDP for the true rate of inflation then real growth is of course much slower , you know I want to tell you something that disturbs me in all emerging economies and in many other developed economies , from my taste in front of luxury hotels there are far too many Ferraries and Maseraties and Bentleys and this is not a good sign , you should see depression when conditions are depressed . I see a boom everywhere except for the working class and except for the lower middle class , but among the well-to-do people the wealth that is floating around and the prices you pay for high end properties is incredible and I think that will come to an end and a lot of people will lose a lot of money and so I am ultra careful at the present time ....." Marc Faber interviewed by Bloomberg TV May 25 2011 : Marc Faber, publisher of the Gloom, Boom & Doom report, talks about the outlook for China's economy. Faber also discusses the U.S. economy and budget deficit, and his investment strategy

Marc Faber Bloomberg Interview 30 March 2011

Marc Faber, publisher of the Gloom, Boom & Doom report is in Mexico City to speak at an event entitled "When everything else fails policy makers can always be assured of immortality by making spectacular errors " Marc Faber says to expect QE3 from the FED but not right away , regarding the spectacular errors of policy makers Dr. Marc Faber had this to say : " ...well I think the big error is obviously to print money , I think it does not help in the long run , it can give a temporary boost to economic activity but it does not lead to sustained economic growth in fact it creates a miss-prizing of assets and of goods and services and has negative implications on the prize mechanism in other words say you print money that can be done but the central bank or in the case of the US the Federal reserve what it can't know is where the money will flow to , so it flowed to NASDAQ stocks before march 2000 and into the housing market and created a bubble and in 2008 as the economy went into recession we had a commodities bubble , oil went from the day they cut interest rates in September 2007 to July 2009 all the way from $78 to $147 which was like an additional tax on the US consumer to the tune of 5 billion dollars and lately the money printing in the US hasn't really helped much the assets that the FED would like to boost namely housing but it created other bubbles overseas in currencies and again in commodities to some extent " ...regarding QE3 Marc Faber says :" for sure there will be QE3 but not right away , I think the FED believes that the economy is recovering and some sectors of the economy are actually doing quite well overseas we have strong growth in particular in emerging economies like here in Mexico the economy is doing very well at present time , so I think they will do QE3 , and my view is they will do QE3 , QE4 QE5 until QE26 until the whole system breaks down , and obviously the question is how fast they will do and to what extent the stock market has already expected this QE3 or the end of QE2 , as is QE2 is now fully discounted I do not think that the market will go up significantly , in fact I think that the FED would like to see stocks correcting somewhat ahd then have an excuse if stocks are down 20 percent that we need QE3 ..."
The above partial script was done manually by the owner of this blog , so it is far from being perfect , use at your own risk...

Marc Faber on Bloomberg 28 Dec 2009

Marc Faber talks with the folks at Bloomberg TV about US stocks, investment strategy, the dollar, and inflation.
Dec. 28 (Bloomberg) -- Marc Faber, publisher of the Gloom, Boom & Doom Report, talks with Bloomberg's Deirdre Bolton and Jon Erlichman about the outlook for the U.S. dollar. Faber also discusses expectations for U.S. stocks, investment strategy and inflation. (This report is an excerpt. Source: Bloomberg)
“Sentiment on the U.S. dollar was really extremely negative over the last three months,” Hong Kong-based Faber said. “The other currencies are not much better. The dollar will appreciate against the euro by another 5 to 10 percent, and later on we’ll have to see, but that would be a near-term target.”



Dr. Marc Faber also known as Dr Doom is an investment advisor, investment analyst and fund manager author and publisher of the Gloom Boom & Doom Report . Dr Faber is known for his contrarian investment approach. Dr Marc Faber is associated with a variety of funds and is a member of the Board of Directors of numerous companies.
he became well known for advising his clients to get out of the stock market one week before the October 1987 crash. Dr Doom motto is "Follow the course opposite to custom and you will almost be right"

Marc Faber Dubai is just the tip of the Iceberg

Faber many governments will eventually go bust including the U.S.

Marc Faber The Gloom Boom and Doom report editorand CEO of Marc Faber Ltd on the phone with Bloomberg television : says that the Dubai crisis is relatively small in the context of Global Defaults , Dubai is a warning signal that government supported firms can default , Markets see that central banks will print more money to solve the crisis , Dubai crisis is relatevily small compared to Credit crunch

Marc Faber on Dubai debt crisis : What we see is the tip of the iceberg

Faber Sees Extremely Limited Upside for U.S. Bonds

Marc Faber, publisher of the Gloom, Boom & Doom Report, talks with Bloomberg\'s Deirdre Bolton and Erik Schatzker about the outlook for U.S. Treasury bonds. Faber, speaking from Prague, also discusses Dubai World\'s debt and the possibility of government defaults, including the U.S. (Source: Bloomberg)(Source: Bloomberg)

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Marc Faber I only trust Physical gold outside the US no ETFs or derivatives

Marc Faber I only trust Physical gold , and the dollar rally Bloomberg Nov 02

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Marc Faber Dollar Will Eventually Go to Value of Zero

Faber told Bloomberg TV Dollar Will Eventually Go to Value of Zero 27 Oct 2009

Marc Faber, publisher of the Gloom Boom & Doom Report, talks about the outlook for the U.S. dollar going to a "value of zero" and the country's fiscal situation. Faber says the dollar will become worthless when people eventually realize the fiscal situation in the U.S. is a "disaster."

The currency will become worthless when people eventually realise that the fiscal situation in the US is a “disaster”, said Marc Faber, publisher of the Gloom, Boom Doom report.

“It will go to a value of zero eventually, but not right away,” he said.

“I think it will take about 10 years until people realize that the fiscal situation of the US is a complete disaster.”

The dollar’s rally will not last because the US will be forced to print more money to pay its debt, Mr Faber added "Ben Bernanke is a money printer and we should give him a medal for that "
(Source: Bloomberg)

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America will go bust Marc Faber on reserve currency and Inflation Bloomberg 14 Oct 2009

Marc Faber on US Deficit debt inflation money printing in other words on Bananomics as bloomberg journalist calls it :

Gold Silver Mining Stocks and the FED Marc Faber on Bloomberg Oct 13 2009

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Marc Faber On Inflation and Intel Stocks Bloomberg Oct 13 2009

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Marc Faber on Bloomberg Stocks May Have Peaked for 2009

Marc Faber, editor and publisher of the Gloom, Boom & Doom report, in an interview with Bloomberg speaks about about the outlook for global stocks. Faber, speaking from Hong Kong, also discusses gold prices, and the impact of China's technological advancement on its ability to compete in the global marketplace.

CLICK HERE TO WATCH THE VIDEO INTERVIEW OF MARC FABER

Marc Faber US Govt may fail in 5 to 10 years Sept 22, 2009

Marc Faber on Bloomberg TV 22 Sept

Marc Faber, publisher of the Gloom, Boom and Doom Report, talks with Bloomberg's Carol Massar about the outlook for the U.S. economy and government.
"We have zero interest rates and say, you have a million dollars in deposits that don`t get you any interest. So the system, the central bank, essentially forces you to do something to achieve some kind of return. So you take the million dollars and either you buy equities or you buy commodities or you buy bonds or foreign currencies. But you have to do something and that leads to a lot of volatility in financial markets." Marc Faber told bloomberg in another occasion

Marc Faber US Govt may fail in 5 to 10 years, Sept 22, 2009
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The stock market is strong in reaction to a weak dollar Bloomberg Sept 10

Weak Dollar also means strong Commodities and equities , this crisis was avoided by postponing it

You do not want to own US Treasury bonds and cash ...you print money people will go into commodities because the commodities supply cannot be increased at the same rate as the printing press increases the supply of money and credit ....."

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Japanese Stocks Could Rally on Election Marc Faber

Marc Faber on Bloomberg 28 Aug 2009 about Japanese elections and equities

Marc Faber author publisher and editor of the Gloom, Boom and Doom Report, was on the phone this morning with Bloomberg Television commenting about the Japanese elections on the Japanese stock market , he also analyzes the global outlook for the Asian markets. Asia will become more Asian Centric said Marc Faber
Dr Marc Faber aka Dr Doom is one of the world's best known economists, author publisher and editor of the Gloom Boom and Doom report, and author of Tomorrow's Gold