Tuesday, February 21, 2012

Marc Faber : Gold is safer from Confiscation in Asia

Marc Faber : You know what worries me the most is this continuous blackmailing of countries by America like the Swiss they had to divulge the account names of Americans who have accounts in Switzerland , I think the Swiss government did a lousy job t should have refused to divulge this information but anyways there was enough pressure and of course the pressure rose because Swiss companies have large holdings in America so the Americans said look you do not disclose the names of these accounts we close down your shop in America and the banking lobby of course they obliged and so forth , but I am worried that one day if the US does the same as in 1933 namely seize the gold they did not expropriate they paid for it , if that happens again they will go to the Europeans and to the Swiss and tell them that they have to do the same and probably they would oblige , but in Asia I don't think the Americans could do that , so i keep some gold in Asia and the bulk is still in Switzerland but I am thinking about moving it more and more to Asia - in Stansberry Radio
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