Friday, December 27, 2013
Owning Some Physical Gold Is A Prudent Insurance
Basically we are in an environment where central banks are monetising debts and where the balance sheets of central banks are increasing, and this will continue, especially in the United States and Europe.
We are also in an environment where in the long run, a lot of sovereign debts will either not be paid or will have to be inflated away. So owning some physical gold is a prudent insurance. I am specifying here 'physical gold' because one wants to protect oneself as an investor for the potential of a systemic collapse of the financial system. - in Economic Times
Related ETF: SPDR Gold Trust ETF (GLD)
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.