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Silver Dollar Values Prices Soar, Faber: Keep Your Dollars & I Will Keep My Gold
Everyone should maintain gold in their portfolios” as the precious metal can offer value to investors actually in a worst-case scenario. In the worst case scenario, in the actual systemic failure that I anticipate, it would still have some worth.
Gold in yen terms remains near record multiyear levels above 0.150 million yen per ounce. New minimal highs in yen terms over 0.2 million yen per oz are only a matter of time.
Sources documented that Credit Suisse says gold holders may have removed gold from the euro zone due to the region’s financial debt crisis. They noted the actual Bundesbank comment about capacity getting available in its own vaults in Germany.
The World Economic Forum is into its second day in Davos, Switzerland, and with the theme of ‘Resilient Dynamism’ it seems a good time to announce or even spin positive news in Europe like a slight growth in consumer well being and confidence. I’m not sure exactly what Europe the Davos attendees live on but Ireland, Spain, Portugal and Greece’s ‘recoveries’
The actual U.S. House of Representatives passed a Republican brought plan to allow the federal government to keep credit money through mid-May. The borrowing and cash printing party can continue just a little while longer but it would be wise to prepare for the hangover.
Owning physical gold these days is akin to drinking lots of water and having a few painkillers on hand. When this party ends, individuals not owning gold are going to endure one hell of a financial hangover. Rare Coins, Silver Coins, Gold eseih Coins, Learn more >> http://www.silverpricestoday.cc/
“Everyone should maintain gold in their portfolios” as the precious metal can offer value to investors actually in a worst-case scenario, said Marc Faber, the publisher of the Gloom, Boom & Doom statement.
“In the worst case scenario, in the actual systemic failure that I anticipate, it would still have some worth,” Faber, who is also the founder as well as managing director of Marc Faber Ltd., stated today at an event hosted by Evli Bank Oyj in Helsinki.
Faber said their outlook was so bleak that he's “hyper bearish”. He joked, “Sometimes I’m so worried about the world I want to jump out of the window.”
He wisely asserted `I advise everyone to have some gold.' Faber said that he thought there might be a flight out of cash and overvalued bonds and into equities as well as gold. In response to a question from Yale University’s Robert Shiller querying the recommendation to hold gold, Faber said: “I’m ready to make a bet, you keep your own U.S. dollars and I’ll maintain my gold, we’ll see which one would go to zero first.”
Shiller, who is the co-creator of the S&P/Case-Shiller catalog of property values, replied "I'm inclined to think gold prices after this turmoil might return to a lower level. Given the reduced yields of the alternatives, i.e., ties, the valuation of the stock market doesn't look so bad."
Faber, whose advice has guarded millions of investors in recent years, cautioned of a global systemic turmoil possibly due to massive size of the global derivatives market that is now worth over an incredible $700 trillion.
He warned, “When the system goes down,” and just plastic credit cards are left, “maybe after that people will realize and return to some gold-based system.” How high will silver go? Learn more >> http://silverpricestoday.cc/