Wednesday, September 19, 2012

Equities are Safer from Government Confiscation than Gold

Marc Faber : ...If you look at the composition of who owns equities and who owns gold ,very clearly the majority of people directly or indirectly own equities , directly owned equities are usually owned by well to do people , poor people don't own stocks in IBM in Apple and so forth but indirectly the public owns equities through retirements accounts and through pension funds state pension funds and so forth and so on , so to do something really obnoxious against equity holders would cause another problem namely the funding problem of these retirements accounts these pension funds the state pension funds are already grossly under water they are underfunded and so if you did something nasty to the equity holders stock market will collapse these pension funds will not be in a position to actually pay out their members their retirees...yes and the gold is owned by a minority it's not widely held and especially if you look at members of congress and the people at the federal reserve and the people at the treasury they own equities directly or indirectly but they don't own any gold - in Capital Account
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