Wednesday, July 31, 2013

Marc Faber : we are still in massive Money Printing and the worse the Economy becomes, the more Money Printing there will be. I’m holding onto my GOLD

Question: We’ve often asked our guest experts about which asset classes our listeners should invest in, and what percentage of their portfolios should be in precious metals versus other investments. One of our listeners, who is a small businessman, has been following th
e experts’ advice and purchases precious metals as a store of value. He’d like to ask how he would know when it’s time to exit precious metals and what the best exit strategy is.

Marc Faber : I think that’s a very good question. By the way, I would say maybe in the fall of 2011, when gold prices reached $1,921 an ounce in September 2011, I should have issued a sell recommendation and said, “Get out of gold and get into cash or the SNP.” In general, I think that we are still in massive money printing and the worse the economy becomes, the more money printing there will be. I’m holding onto my gold. As I explained before, I bought some gold at $1,300 an ounce and I bought some more gold at $1,200 an ounce. - in ETF Daily

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.


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