Posted on 06/25/2017 6:11:36 PM PDT by SkyPilot
I’ve been hearing this crap for the past 40 years.
I never did understand the fascination with gold. Do people really expect to buy milk and bread by slapping a gold bar on the counter? Give me a break.
He is hilarious when he reports about her:
“Mother gives a quarter”...etc.
Don’t worry, everything will be just fine, Congress has already passed the appropriate legislation to fix any financial calamity, it is already Law.
So as far as you, the depositor, are concerned, your money in checking and savings accounts is the bank’s “unsecured debt.” You will have to stand in line behind trillions of dollars of derivative payouts before your checking and savings accounts will be made whole. Both the Bankruptcy Reform Act of 2005 and the Dodd Frank Act provide special protections for derivative counterparties, giving them the legal right to demand collateral to cover losses in the event of insolvency.
They get first dibs, even before the secured deposits of state and local governments. Your chances of recovering your money are about as great as the chances of a snowball in hell.
Markets anticipate forseeable events. The Obama crash occurred from Jan 2008 through Dec 2008.
Overlay a chart of the S&P 500 with that of the Iowa electronic market for the likelihood of an Obama win. Almost perfect inverse correlation.
Sell on the rumor, buy on the news.
LMAO! Yep...if you keep saying the market is going to drop...it eventually will and in the meantime you are still poor because you didn’t invest.
The odd thing here is this market was inflated by the gov’t though. If money has another place to go...it will. But it still has no other place to go. If interest rates spike then the market is going to drop.
Everything you wrote is true. However, I believe it is wrong headed thinking to believe that governments in crisis would not have an appetite to confiscate gold today. It, and other precious metals, would compete with the fiat currency markets, as broken as they are. Also, the confiscation of assets would be required during the huge “bail in” that would inevitably result from a global stock market crash. There are also a myriad of other reasons why they would confiscate gold.
lol
Faber is a brilliant guy.
That said, he isn’t putting a specific time deadline on when - just commenting on the high valuation.
“He has predicted 23 of the last 2 recessions.”
I was devising something similar when I saw your post. It’s also important to remember that 89.37 percent of all statistics are made up on the spot.
nice try. you get partial credit.
.
Put your money in solid functional goods.
Things like pickup trucks, large SUVs, plywood, fuel, iodine, guns, and ammunition.
Certain types of foods that are easy to store, but pleasant to eat are also a form of wealth with intrinsic value.
Nuclear war is unavoidable, and will destroy stocks and fiat currencies.
“Faber is known for correction calls over the years which have never materialized.”
Earth to Dr. Doom:
Cankles lost. Trump is now the Prez. Life in these United States is getting better and the stock market is doing better virtually every week!
“If interest rates spike then the market is going to drop.”
Agree.
And if interest rates DON’T spike then the market is going to spike.
What country does he live in?
“A government and central bank that can create unlimited debt in a printed currency with manipulated interest rates can pursue any repression and social-engineering scheme it wants.”
Bump
“Marc Faber, the editor of “The Gloom, Boom & Doom Report’ and a perennial bear”
as long as he always keeps predicting bear, then sooner or later he’ll probably be right. it might take 10, 20 years, but hey, the guy will be able to claim he’s prescient!
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