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Gold bug Marc Faber says stocks may have peaked for 2011, but he will keep accumulating gold,...

  • Thursday, June 23, 2011, 5:50 PM ET
    Gold bug Marc Faber says stocks may have peaked for 2011, but he will keep accumulating gold, even as prices of precious metals may decline in the next three months. Faber's wit remains intact through his gloom: “Not to own any gold is to trust central bankers, and that you do not want to do in your life.”
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This news story has 26 comments:

  •  
    Fabor does not realize: central bankers can manipulate the price of gold as well. See what happens if they raise margin requirement on the COMEX by 5 percent.

    Gold is not safe, and costs money to store (securely). I'm not saying to shun it, but don't put all of your eggs into it.
    23 Jun 2011, 05:57 PM Reply Like
  •  
    "The price of gold" is irrelevant in Faber's context. Bankers can make cash worthless! It's only happened hundreds of times... seekingalpha.com/artic...
    23 Jun 2011, 07:45 PM Reply Like
  •  
    Pretty stupid comment overall.
    I'd rather take my chances with the Fed than anything
    Marc Faber is selling.
    23 Jun 2011, 06:00 PM Reply Like
  •  
    Take your chances with the Fed?
    Better Vegas.
    23 Jun 2011, 06:40 PM Reply Like
  •  
    I'll not take my chances with the Fed either. They are in the game for themselves and their banking partners. They only care that there are enough people out there to give them opportunities to make money.
    24 Jun 2011, 03:53 AM Reply Like
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    Margin raises, only take out the short term "Froth." Long run fundamentals will rule.

    As the wealth gets concentrated at more and more high wealth individuals, they will store wealth in Gold.
    23 Jun 2011, 06:09 PM Reply Like
  •  
    1980...my suspicion is the banksters have almost all the gold now anyway. There certainly ain't any in Fort Knox.
    24 Jun 2011, 03:54 AM Reply Like
  •  
    To own no gold is Not necessarily to trust central bankers. One can also forgo it (for the moment) if one is sure their power is illusory and transitory.
    The Fed couldn't stop the declines of '08 (which continued Through the bulk of TARP). Its "programs" only work when they are (accidentally) in sync with where the markets (Any markets) want to go at the time.
    23 Jun 2011, 06:11 PM Reply Like
  •  
    Jasper....I happen to think the Fed caused the declines in '08.
    24 Jun 2011, 03:55 AM Reply Like
  •  
    When anybody tells you to buy gold because there is QE and to buy gold because there isn't QE, he can only be half right.
    23 Jun 2011, 06:20 PM Reply Like
  •  
    Take delivery of AU and sleep well at night with a handgun on your bedside table.
    23 Jun 2011, 06:53 PM Reply Like
  •  
    Correct you are. If you own gold possess gold and protect gold with firepower because the same reasoning you use to own it, Armageddon, is the same reason to posses it and protect it.
    23 Jun 2011, 07:13 PM Reply Like
  •  
    Does anyone else think that goldbugs are paranoid and stupid? Even if the system collapses, how does gold help you? You can't eat gold and it is useless in your apocalyptic fantasy world.
    23 Jun 2011, 07:30 PM Reply Like
  •  
    Machiavelli,

    Gold has been a storage of wealth for thousands of years.

    A lot longer than you have been making stupid comments on the internet.
    23 Jun 2011, 08:02 PM Reply Like
  •  
    LMAO! You ain't gonna live forever, sunshine!
    23 Jun 2011, 08:15 PM Reply Like
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    If you are not prepared to possess gold and to kill to protect your holdings it is of no value in the event of Armageddon. You will never get it out of the vaults on Wall Street if the poop hits the fan.
    23 Jun 2011, 08:19 PM Reply Like
  •  
    Saying that something is valuable for thousands of years is actually not a good argument.

    People used to believe that the world was flat.

    People used to believe that the Earth is the center of the universe.

    People used to believe that absolute monarchy was a god given right.

    Our ancestors had been wrong in so many things that it's not even funny.

    Why should a piece of yellow metal with almost no utility value be the storage of value?
    23 Jun 2011, 10:59 PM Reply Like
  •  
    Dividend...There is a simple answer to your question, and it's the same reason anything turns into "money". It's because people said it was valuable. That's all. They said Gold was valuable. They said Silver was valuable. They said Copper was valuable. Then governments forced everyone to accept paper as valuable.
    24 Jun 2011, 03:58 AM Reply Like
  •  
    Watch Logan's Run and buy real estate...its safer than gold, its a productive asset
    23 Jun 2011, 07:35 PM Reply Like
  •  
    Surely you jest.....................
    23 Jun 2011, 08:29 PM Reply Like
  •  
    All the folks who want to rush into gold at all-time highs and think realty is worthless at historical lows must have been born yesterday, or at least not long before. Apparently, they've never seen an investment cycle.
    23 Jun 2011, 08:59 PM Reply Like
  •  
    Perhaps they are looking at a Dollar chart.
    23 Jun 2011, 09:43 PM Reply Like
  •  
    Tack....I own a house. I own some gold. I don't value my house in dollars. I don't value my gold in dollars. I value my house in utility, square feet, lot size, etc. I value my gold in ounces. I don't care if gold goes up or down vs. dollar. I don't care if my house goes up or down in dollars.

    So....I guess when you look at it in that way...gold/houses are not investments to me.

    Under certain circumstances today...I would definitely "invest" in real estate. I also use my 401K as an "investment" tool in precious metals. So I guess all in all I'm a HYBRID.
    24 Jun 2011, 04:03 AM Reply Like
  •  
    To all you fiat currency supporters: I say you've been brainwashed. A dollar bill is a Federal Reserve Note. It is nothing more than a paper promise with no collateral while gold is, well, gold is money.
    24 Jun 2011, 08:14 AM Reply Like
  •  
    Nobody should sit on uninvested dollar bills. Hardly anybody would argue with that, right?

    However, dollar bills buy your gold and they equally buy equities. Now, since 1975, even with gold's current surge, gold has underperformed equities by 70%, not even including 36 years of dividend distributions.

    Gold doesn't look quite as shiny, now, does it?
    24 Jun 2011, 09:13 AM Reply Like
  •  
    In 1975 there was about 125 billion dollars in circulation, now there is about 829 billion, this does not include foreign holdings, buy some gold.
    24 Jun 2011, 09:50 AM Reply Like
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