Before the earthquake and tsunami in Japan, Marc Faber, the author of the Gloom Boom & Doom report, had called Japan a great investment idea.
He holds to that, and in a preview of an upcoming new daily trading and investing show called Breakout, from Yahoo! Finance, he now says the sell-off in global markets is a "lifetime buying opportunity" in Japan.
Faber also said going forward any investor not willing to forgo 20 percent to 30 percent moves in equity prices doesn't belong in the market, insinuating a time of volatility.
He also said while bullish long term on Japanese equities, they could drop up to 30 percent before bottoming out and becoming attractive as measured on valuation.
Showing posts with label Marc Faber. Show all posts
Showing posts with label Marc Faber. Show all posts
Thursday, March 17, 2011
Thursday, March 10, 2011
Marc Faber Says Oil Prices Could Go Ballistic
Even though oil prices have already soared by about 15 percent in 2011, Gloom Boom & Doom editor Marc Faber says the price of oil will go ballistic if unrest in the Middle East spreads to Saudi Arabia.
Speaking to CNBC, Faber said: " I think long term you should be exposed to energy in either scenario....if you are extra bearish and believe that War World III is going to start soon, as I believe, or in an optimistic scenario".
Addressing the fundamentals of the oil market, Faber said: "What we had over the last couple of years is essentially a reduction in demand from the developed world, the US, Western Europe and Japan, and continued growth in emerging economies.
"So, if you take a very optimistic view of the world, namely a global economic recovery, demand in the Western World will pick up and demand in the Emerging World will continue to rise strongly, so from a very optimistic point of view you should be long oil," he recommended.
On the flip side, "in a very pessimistic scenario you have to assume that unrest will shift to Saudi Arabia and other countries in the gulf and at that stage the production is curtailed and in that case obviously oil will go up ballistically."
Source
Speaking to CNBC, Faber said: " I think long term you should be exposed to energy in either scenario....if you are extra bearish and believe that War World III is going to start soon, as I believe, or in an optimistic scenario".
Addressing the fundamentals of the oil market, Faber said: "What we had over the last couple of years is essentially a reduction in demand from the developed world, the US, Western Europe and Japan, and continued growth in emerging economies.
"So, if you take a very optimistic view of the world, namely a global economic recovery, demand in the Western World will pick up and demand in the Emerging World will continue to rise strongly, so from a very optimistic point of view you should be long oil," he recommended.
On the flip side, "in a very pessimistic scenario you have to assume that unrest will shift to Saudi Arabia and other countries in the gulf and at that stage the production is curtailed and in that case obviously oil will go up ballistically."
Source
Friday, March 4, 2011
Marc Faber Says Time to Buy Japan after 20-Year Lull
After 20 years of stagnant growth in the longest bear market for a country over that period of time, Marc Faber is saying it is now time to buy Japanese stocks.
Not only does Faber recommend acquiring shares of Japanese stocks, but he also says investors should hold onto their shares.
Faber's reasoning is Japan will be forced to print money in order to pay for the huge debt load they are under. They will weaken the normally reliable yen, and will help Japanese exporters, which should push up the earnings and share price of the companies.
Faber said this at the CLSA Asia-Pacific Markets’ annual conference in Tokyo, “If I had to make a bet for the next ten years in terms of equity markets, I would seriously consider a very strong weighting here in Japan. Once the debt market starts to go down, the yen will begin to weaken and that will lift equity prices. I would buy equities at the present time.”
“If I look at the next five to ten years, the interest payments on the government debt in Japan and the fiscal deficits will become very burdensome and that will necessitate monetization,” Faber added. “That will bring about a huge shift of money out of cash and bonds into equities.”
Goldman Sachs (NYSE:GS) has also become bullish on the Japanese equity market.
More
Not only does Faber recommend acquiring shares of Japanese stocks, but he also says investors should hold onto their shares.
Faber's reasoning is Japan will be forced to print money in order to pay for the huge debt load they are under. They will weaken the normally reliable yen, and will help Japanese exporters, which should push up the earnings and share price of the companies.
Faber said this at the CLSA Asia-Pacific Markets’ annual conference in Tokyo, “If I had to make a bet for the next ten years in terms of equity markets, I would seriously consider a very strong weighting here in Japan. Once the debt market starts to go down, the yen will begin to weaken and that will lift equity prices. I would buy equities at the present time.”
“If I look at the next five to ten years, the interest payments on the government debt in Japan and the fiscal deficits will become very burdensome and that will necessitate monetization,” Faber added. “That will bring about a huge shift of money out of cash and bonds into equities.”
Goldman Sachs (NYSE:GS) has also become bullish on the Japanese equity market.
More
Wednesday, March 2, 2011
Marc Faber Recommends Cheapeake Energy (CHK) on Pullback
Marc Faber continues to strongly recommend the energy sector, saying demand will continue to rise even more, in light of the Middle East crisis. He particularly points out Cheapeake Energy (NYSE:CHK) as one of his favorites, especially on a pullback.
That's not to say the Middle East has been the main catalyst for Faber, as he's been calling energy for some time now based on supply and demand alone.
"I think in a, let's say Goldilocks outlook, you have to own some oil," Faber said. "If you're very bearish about the world, it's a nightmare scenario in the Middle East and I don't think that Saudi Arabia can affect production shortfalls of Libya and Saudi Arabia itself is very vulnerable and so I would say under any scenario, I would own some oil and energy shares."
Chesapeake Energy appears to be in one of those pullbacks at this time, as it closed Tuesday at $33.70, dropping $1.91, or 5.36 percent.
That's not to say the Middle East has been the main catalyst for Faber, as he's been calling energy for some time now based on supply and demand alone.
"I think in a, let's say Goldilocks outlook, you have to own some oil," Faber said. "If you're very bearish about the world, it's a nightmare scenario in the Middle East and I don't think that Saudi Arabia can affect production shortfalls of Libya and Saudi Arabia itself is very vulnerable and so I would say under any scenario, I would own some oil and energy shares."
Chesapeake Energy appears to be in one of those pullbacks at this time, as it closed Tuesday at $33.70, dropping $1.91, or 5.36 percent.
Tuesday, February 22, 2011
Marc Faber Says Buy Oil, Not US Stocks
Oil prices could make further gains but US stocks could be set for a difficult year, Marc Faber, the author the closely-watched Gloom, Boom and Doom report, said in an interview.
"On the upside, if you look at some other commodities like copper, then obviously oil prices could go up substantially even from these levels," Faber told CNBC's (NYSE:GE) Indian partner TV-18 in Mumbai. "I don't think that oil is expensive compared to other commodities or compared to other goods prices in the world."
"Further gains would obviously depend on some political problems — some interruptions in oil supplies or a possibility of the global economy experiencing some kind of a crack-up boom," he said.
According to Faber, a crack-up boom is a boom that is driven by artificially low interest rates, easy monetary policies and debt growth.
"Crack-up booms don't last. They are not sustainable but they can last between six and 18 months and then a renewed setback occurs in the global economy," Faber said.
Source: CNBC
"On the upside, if you look at some other commodities like copper, then obviously oil prices could go up substantially even from these levels," Faber told CNBC's (NYSE:GE) Indian partner TV-18 in Mumbai. "I don't think that oil is expensive compared to other commodities or compared to other goods prices in the world."
"Further gains would obviously depend on some political problems — some interruptions in oil supplies or a possibility of the global economy experiencing some kind of a crack-up boom," he said.
According to Faber, a crack-up boom is a boom that is driven by artificially low interest rates, easy monetary policies and debt growth.
"Crack-up booms don't last. They are not sustainable but they can last between six and 18 months and then a renewed setback occurs in the global economy," Faber said.
Source: CNBC
Monday, February 7, 2011
Marc Faber Says Bernanke, Bureau of Labor Statistics Lying about Inflation Levels
In an interview with CNBC, investor Marc Faber said inflation in the U.S. is much worse than the official government line, and Federal Reserve Chairman Ben Bernanke and the Bureau of Labor Statistics are both lying about the actual level of inflation.
Faber said, “The annual cost of living increases are more than 5% today and the Bureau of Labor Statistics is continuously lying about the inflation rate, including Mr. Bernanke. He’s a liar. Inflation is much higher than what they publish.”
Faber said he sees the actual rate of inflation in the U.S. at about 5 to 8 percent, although allowing for people at different stages of their lives, e.g., those with or without children. Western European inflation he sees at levels a little under the U.S. rate.
Concerning the so-called recovery, Faber stated, “We have to realize that it’s an artificial recovery driven by ultra-expansionary monetary policies and also ultra-expansionary fiscal policies.”
Even so, for approximately the next six months Faber thinks the global economy will probably do okay, but longer out enormous problems will emerge, citing growing deficits.
Actual Marc Faber interview below.
Faber said, “The annual cost of living increases are more than 5% today and the Bureau of Labor Statistics is continuously lying about the inflation rate, including Mr. Bernanke. He’s a liar. Inflation is much higher than what they publish.”
Faber said he sees the actual rate of inflation in the U.S. at about 5 to 8 percent, although allowing for people at different stages of their lives, e.g., those with or without children. Western European inflation he sees at levels a little under the U.S. rate.
Concerning the so-called recovery, Faber stated, “We have to realize that it’s an artificial recovery driven by ultra-expansionary monetary policies and also ultra-expansionary fiscal policies.”
Even so, for approximately the next six months Faber thinks the global economy will probably do okay, but longer out enormous problems will emerge, citing growing deficits.
Actual Marc Faber interview below.
Wednesday, January 19, 2011
Oil at Top of Marc Faber's Investment List
Citing the extraordinary high rate of money printing around the world by central banks, with the worst culprit being the Federal Reserve, Marc Faber recommends investing in oil as the top way to grow and protect your wealth.
Faber said in a CNBC interview, "We have money printing around the world and particularly in the US and that has led to very high food inflation and inflation in energy prices. In low-income countries like China, India, Vietnam and so forth, energy and food account for a much larger portion of personal disposable income than in the United States.
"So these countries are suffering from basic high inflation, and that reduces the purchasing power of people. So I think the monetary authorities in emerging countries are going to have to tighten or let inflation accelerate, both of which are not particularly good for equities."
Faber added oil investors will win either way because if inflation rages, that will ultimately lead to disruptions around the globe, and if we move out of the recession, demand for oil will rise. Either way, those investing in oil will win because of rising prices.
This works as well with other commodities, especially those that haven't soared too much, e.g. rice.
Faber also said energy equities should do well in the year ahead.
As far as places to invest, he sees the U.S. and Europe presenting better investment opportunities in 2011.
Faber said in a CNBC interview, "We have money printing around the world and particularly in the US and that has led to very high food inflation and inflation in energy prices. In low-income countries like China, India, Vietnam and so forth, energy and food account for a much larger portion of personal disposable income than in the United States.
"So these countries are suffering from basic high inflation, and that reduces the purchasing power of people. So I think the monetary authorities in emerging countries are going to have to tighten or let inflation accelerate, both of which are not particularly good for equities."
Faber added oil investors will win either way because if inflation rages, that will ultimately lead to disruptions around the globe, and if we move out of the recession, demand for oil will rise. Either way, those investing in oil will win because of rising prices.
This works as well with other commodities, especially those that haven't soared too much, e.g. rice.
Faber also said energy equities should do well in the year ahead.
As far as places to invest, he sees the U.S. and Europe presenting better investment opportunities in 2011.
Wednesday, November 17, 2010
NovaGold Resources (AMEX:NG) Starting to Make its Move?
NovaGold Resources (AMEX:NG), if for no other reason, has garnered some attention because of investment of major players like George Soros, John Paulson and Marc Faber. Faber also sits on the board of the company.
NovaGold recently started to make a momentum move, although they have pulled back with the price of gold, although they've rebounded nicely today.
They continue to be a long-term investment, even though they will make money in the short term from momentum alone because they are largely undervalued, and the long term for the same reason.
But much of the company is potential at this time, because their huge Donlin Creek project in Alaska will take time to bring online. Some measure that project alone as pricing the company at about $40 a share.
NovaGold is trading at $14.44, gaining $0.97, or 7.20 percent as of 12:25 PM EST.
NovaGold recently started to make a momentum move, although they have pulled back with the price of gold, although they've rebounded nicely today.
They continue to be a long-term investment, even though they will make money in the short term from momentum alone because they are largely undervalued, and the long term for the same reason.
But much of the company is potential at this time, because their huge Donlin Creek project in Alaska will take time to bring online. Some measure that project alone as pricing the company at about $40 a share.
NovaGold is trading at $14.44, gaining $0.97, or 7.20 percent as of 12:25 PM EST.
Monday, September 20, 2010
Gold Still Inexpensive Says Marc Faber
Speaking at a CLSA Investors’ Forum 2010 in Hong Kong recently, Marc Faber said he still sees gold prices as relatively inexpensive, even though record prices continue to be set.
Faber gave his reasoning as this, “Given all the unfunded liabilities and the money printing in the world and the size of the financial assets in the world, I don’t think we are in a bubble.”
He's definitely right. At this time these elements aren't close to being fully priced into the value of gold, and central banks and governments are drunk on spending and reckless in stimulus, as they're caught in their socialist schemes which can't be paid for.
Even though he still considers gold to be cheap, Faber does recommend a monthly investment rather than attempting to time the market or putting everything in at once.
He also suggests gold will go through some significant price swings and corrections while maintaining its upward climb. That means those with large, one-time investments could get slammed if their entry point is on the high end.
Bottom line is governments aren't going to quit attempting to pay for their socialist programs, and that guarantees quantitative easing and stimulus, along with the accompanying increase in gold prices.
Faber gave his reasoning as this, “Given all the unfunded liabilities and the money printing in the world and the size of the financial assets in the world, I don’t think we are in a bubble.”
He's definitely right. At this time these elements aren't close to being fully priced into the value of gold, and central banks and governments are drunk on spending and reckless in stimulus, as they're caught in their socialist schemes which can't be paid for.
Even though he still considers gold to be cheap, Faber does recommend a monthly investment rather than attempting to time the market or putting everything in at once.
He also suggests gold will go through some significant price swings and corrections while maintaining its upward climb. That means those with large, one-time investments could get slammed if their entry point is on the high end.
Bottom line is governments aren't going to quit attempting to pay for their socialist programs, and that guarantees quantitative easing and stimulus, along with the accompanying increase in gold prices.
Wednesday, July 14, 2010
NovaGold's (AMEX:NG) Donlin Creek Getting More Expensive?
Now that NovaGold (AMEX:NG) losses have mounted over the last quarter, they are getting more aggressive in pursuing capital to work on their Donlin Creek project, which is by far their most important mine. They are in a 50/50 partnership with mining giant Barrick Gold Corp. (NYSE:ABX) in the project.
Either the costs at the project are increasing, or NovaGold is pushing harder to get it going, as the proven gold reserves of 34 million ounces, valued at about $41 billion at today's gold prices, has them salivating over the prospect of getting gold production going.
Marc Faber recently joined the board of the gold miner, and financial giants like John Paulson and George Soros have invested millions into the company.
At this time all the appropriate studies are being conducted, which take time, and the gold production may not start until as late as 2017.
With NovaGold having to pay close to $2.2 billion in capital costs for Donlin, you can see why they need more capital to operate until production begins.
This is of course nothing new to the industry, but if costs do increase, NovaGold faces challenges over the long term. Having Faber on the board and a resume of Paulson and Soros investing about $175 million in them, they do have a solid foundation and argument to work from.
Now they will attempt to battle to keep their 50 percent stake while raising capital, as their giant partner could easily take up the slack if problems arise, which NovaGold wouldn't want to allow to happen.
Over the long term this is a sure thing, now NovaGold has to raise the needed and significant amount of capital to last long enough to cash in, without giving up anything else.
Either the costs at the project are increasing, or NovaGold is pushing harder to get it going, as the proven gold reserves of 34 million ounces, valued at about $41 billion at today's gold prices, has them salivating over the prospect of getting gold production going.
Marc Faber recently joined the board of the gold miner, and financial giants like John Paulson and George Soros have invested millions into the company.
At this time all the appropriate studies are being conducted, which take time, and the gold production may not start until as late as 2017.
With NovaGold having to pay close to $2.2 billion in capital costs for Donlin, you can see why they need more capital to operate until production begins.
This is of course nothing new to the industry, but if costs do increase, NovaGold faces challenges over the long term. Having Faber on the board and a resume of Paulson and Soros investing about $175 million in them, they do have a solid foundation and argument to work from.
Now they will attempt to battle to keep their 50 percent stake while raising capital, as their giant partner could easily take up the slack if problems arise, which NovaGold wouldn't want to allow to happen.
Over the long term this is a sure thing, now NovaGold has to raise the needed and significant amount of capital to last long enough to cash in, without giving up anything else.
Thursday, July 8, 2010
NovaGold (AMEX:NG) Places Marc Faber on Board
Marc Faber has been appointed to the board of NovaGold Resources (AMEX:NG) (TSE:NG), according to a company press release today, along with Igor Levental.
Faber is of course the publisher of the popular The Gloom, Boom & Doom Report, and ubiquitous in the financial media, who love to get his contrarian view on all things economic.
"Dr. Faber and Levental are among the brightest minds in the business and bring extensive experience and expertise to NovaGold. We are truly delighted that they have joined NovaGold's Board of Directors," said Rick Van Nieuwenhuyse, NovaGold's President and CEO in the release. "Their credentials and their extraordinary wealth of market and industry experience will be invaluable as NovaGold advances its portfolio of world-class projects along the value chain for shareholders."
NovaGold has struggled since May, dropping from just under $9 a share to Thursday's close of $6.28 a share, a loss of $0.13, or 2.03 percent.
Faber is of course the publisher of the popular The Gloom, Boom & Doom Report, and ubiquitous in the financial media, who love to get his contrarian view on all things economic.
"Dr. Faber and Levental are among the brightest minds in the business and bring extensive experience and expertise to NovaGold. We are truly delighted that they have joined NovaGold's Board of Directors," said Rick Van Nieuwenhuyse, NovaGold's President and CEO in the release. "Their credentials and their extraordinary wealth of market and industry experience will be invaluable as NovaGold advances its portfolio of world-class projects along the value chain for shareholders."
NovaGold has struggled since May, dropping from just under $9 a share to Thursday's close of $6.28 a share, a loss of $0.13, or 2.03 percent.
Saturday, June 5, 2010
Marc Faber, Jim Rogers Continue to Hold Gold
Confusion over the daily fluctuation of the markets based on little snippets and tidbits of news can drive even the most astute trader or speculator batty, but in the case of gold, investors and pundits like Marc Faber and Jim Rogers aren't confused at all, and they both say they have no intention of selling their gold, and are always on the lookout for dips so they can acquire more.
Without getting into too much detail, the reasons these guys continue to do this is there overall understanding of the macro-economic circumstances.
If you understand the macro-economic situation affecting any investment, and gold in particular, the daily ins and outs of the market are largely irrelevant, unless you're trying to make a quick killing, which hopefully you're not. Even the day traders can't do that great in attempting to time the market, and very few are that successful, even though there is always the glamor attached to being involved in it.
In general, macro-economics as it relates to gold, will deal with issues like national debt, inflation, paper currency and the practices of central banks; all of which the above are highly affected by.
For example, around the world now central banks refuse to implement austerity measures into their practices, as they're committed to bailing out whatever major problems occur in order to save the various economies or industries they deem in need of saving.
That means they'll have to print money and government debt will continue to rise to astronomical levels.
Another indicator is job creation in the private sector, which is just above zero in the United States, with the government being the almost sole creator of jobs, which means they're propping up the economy while creating nothing of value that has a chance to last.
This is why Faber and Jim Rogers continue to hold gold. The central banks and governments have become addicted to these practices even more than in the past, and it's not sustainable by any stretch of the imagination.
Consequently, trust in paper currencies is eroding around the world, and the only reason the U.S. dollar is stronger is because the euro isn't. It's not because it has some type of safe or mystical power which makes it a place of safety. It's only relative in the sense when you compare to the condition of most other currencies in the world, which for the most are even more unstable.
So within these general parameters, gold can be counted on to continue to move upward in price, no matter what type of temporary correction will take place.
Some clueless analysts and pundits try to make it look like gold is in a bubble, but it's not even close, as until the general population gets into the gold market and drives up prices without knowing or understanding the fundamentals, similar to clueless house flippers and those with HELOCs in the housing bubble, where they kept refinancing or bidding up the prices of houses like it was a game with no end, not understanding it had become a ponzi scheme which was about to come falling down around their heads.
It seems the average or everyday investor hasn't even began to invest in gold, so until that happens it won't be those who bid up the price of gold, but the things mentioned above.
There will of course be the traders moving in and out of the market which will drive gold prices up over short periods of time, and then the price gets a correction when they sell their positions to cover other unrelated investments they've lost on.
Only when the price of gold goes up at unrealistic levels for no apparent reason will be be in a bubble, and that won't happen until far into the future, as people in general still stay away from the yellow metal, as they fear that which they don't understand, and only after years of financial reporting on it and they feel safe, will they enter in. At that time the market will be close to a top, and then they'll start to bid gold prices up based on nothing else than everybody has caught gold fever.
So that's when and how a gold bubble will occur, and until then we should feel confident gold prices will continue onward and upward.
This is why Marc Faber and Jim Rogers, among others, continue to hold and invest in gold, and will continue to do so for many years to come.
Without getting into too much detail, the reasons these guys continue to do this is there overall understanding of the macro-economic circumstances.
If you understand the macro-economic situation affecting any investment, and gold in particular, the daily ins and outs of the market are largely irrelevant, unless you're trying to make a quick killing, which hopefully you're not. Even the day traders can't do that great in attempting to time the market, and very few are that successful, even though there is always the glamor attached to being involved in it.
In general, macro-economics as it relates to gold, will deal with issues like national debt, inflation, paper currency and the practices of central banks; all of which the above are highly affected by.
For example, around the world now central banks refuse to implement austerity measures into their practices, as they're committed to bailing out whatever major problems occur in order to save the various economies or industries they deem in need of saving.
That means they'll have to print money and government debt will continue to rise to astronomical levels.
Another indicator is job creation in the private sector, which is just above zero in the United States, with the government being the almost sole creator of jobs, which means they're propping up the economy while creating nothing of value that has a chance to last.
This is why Faber and Jim Rogers continue to hold gold. The central banks and governments have become addicted to these practices even more than in the past, and it's not sustainable by any stretch of the imagination.
Consequently, trust in paper currencies is eroding around the world, and the only reason the U.S. dollar is stronger is because the euro isn't. It's not because it has some type of safe or mystical power which makes it a place of safety. It's only relative in the sense when you compare to the condition of most other currencies in the world, which for the most are even more unstable.
So within these general parameters, gold can be counted on to continue to move upward in price, no matter what type of temporary correction will take place.
Some clueless analysts and pundits try to make it look like gold is in a bubble, but it's not even close, as until the general population gets into the gold market and drives up prices without knowing or understanding the fundamentals, similar to clueless house flippers and those with HELOCs in the housing bubble, where they kept refinancing or bidding up the prices of houses like it was a game with no end, not understanding it had become a ponzi scheme which was about to come falling down around their heads.
It seems the average or everyday investor hasn't even began to invest in gold, so until that happens it won't be those who bid up the price of gold, but the things mentioned above.
There will of course be the traders moving in and out of the market which will drive gold prices up over short periods of time, and then the price gets a correction when they sell their positions to cover other unrelated investments they've lost on.
Only when the price of gold goes up at unrealistic levels for no apparent reason will be be in a bubble, and that won't happen until far into the future, as people in general still stay away from the yellow metal, as they fear that which they don't understand, and only after years of financial reporting on it and they feel safe, will they enter in. At that time the market will be close to a top, and then they'll start to bid gold prices up based on nothing else than everybody has caught gold fever.
So that's when and how a gold bubble will occur, and until then we should feel confident gold prices will continue onward and upward.
This is why Marc Faber and Jim Rogers, among others, continue to hold and invest in gold, and will continue to do so for many years to come.
Saturday, April 24, 2010
Marc Faber Remains Gold Bull
Marc Faber, publisher and editor of The Gloom, Boom & Doom Report, says the gold bull market will continue to run, and paper currencies will lose value as the printing presses of central banks around the globe are running non-stop.
In an interview with Kitco News, Faber said this, “If you have $100 today, you buy that much less in terms of a basket of goods and services then you did ten years ago – paper money has already lost a lot of value and in my view it will continue to lose value. The price of gold will adjust on the upside according to the loss of the purchasing power of money.”
Gold is being considered more and more a currency by a growing number of people, the reason it has been decoupling from the U.S. dollar and the usual inverse relationship between the two not performing as usual on a consistent basis.
Faber agrees, not only looking at gold alone as a currency, but other precious metals as well.
In an interview with Kitco News, Faber said this, “If you have $100 today, you buy that much less in terms of a basket of goods and services then you did ten years ago – paper money has already lost a lot of value and in my view it will continue to lose value. The price of gold will adjust on the upside according to the loss of the purchasing power of money.”
Gold is being considered more and more a currency by a growing number of people, the reason it has been decoupling from the U.S. dollar and the usual inverse relationship between the two not performing as usual on a consistent basis.
Faber agrees, not only looking at gold alone as a currency, but other precious metals as well.
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