Thursday, December 4, 2014

I Am My Own Central Banker


Marc Faber: Everyone always says, I want to buy low and I want to sell high. So I think for me, of course I own a lot of gold, and I need to buy more to keep asset allocation between 25% in Real Estate, 25% in equities, 25% cash and bonds, and 25% gold. I need to buy more. So for me this is a very happy event. I don't like to buy gold at $1,900 like in 2011. I like to buy it here or lower.

Gold Broker: Do you think it will break under $1,000 like some people say?

Marc Faber: Look. The forecasting record of people is horrible, in particular, the forecasting record of the Federal Reserve. So, I don't know, maybe it will go below $1,000 but my sense is that it will not stay below $1,000. .... I would use the current weakness as a buying opportunity. ... I'm telling everybody, you as an investor, and me as an investor, we cannot trust the government. ... I am my own central banker. I keep my own physical gold. I do not trust anyone of these FCKs.







Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.

1 comment:

  1. Well the optimal value cannot be lower than the status qua value, but it can be equal to it and will generally be greater.

    ReplyDelete

Dr. Marc Faber Tomorrow's Gold







Dr. Marc Faber author of the Gloom, Boom and Doom report is a world class Investor, Doctor Faber 's typically controversial and contrarian views have earned him the label of Dr. Doom. Doctor Doom also trades currencies and commodity futures like Gold Natural Gas and Crude Oil.Even his harshest critics must admit that he's been unerringly correct in his market forecasts over the past three decades . Marc Faber is a Swiss investor.He was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude. Between 1970 and 1978, Dr Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. Since 1973, he has lived in Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In June 1990, he set up his own business, which acts as an investment advisor and fund manager. Faber is publisher of the Gloom Boom & Doom Report newsletter and is the director of Marc Faber Ltd which acts as an investment advisor and fund manager.