Marc Faber: "I Would Recommend People Buy Every Month Some Gold For Ever"

tomterm8

StevieJ wrote: »

When the great Armegeddon is upon us I would suggest you have more security with a gun (and perhaps a map of where all the squirrelers are to be found).

I think the survivalists belong on another forum. such as http://www.gunsandkillingexpert.com . We do accept goldbugs, even if they say things like 'gold has never trended down since records began... boosh!' while providing pretty charts dated from 1997 to the present.

Jonbvn

LisbonLaura wrote: »

Quite right. Brown paper money is the only way to go as you can't have a bubble of paper.

'Sterling to rocket in value' ........... is a line you wont see for a while

I do not understand !!!!!! you are on about???

StevieJ

DiggerUK wrote: »

That is a valid debating point, wrong, but still a valid comment.

Given the history of the price of gold over the periods that it has been recorded, it has not been the case that it has trended down over time, but has indeed trended up.

Paper on the other hand, has only ever trended one way.

Lunch, be back later.

No prejudice there then
Gold price ave 1980 (shortly after Tories last came back into power) $615 In fact I think a high of $850 was recorded :eek:
Gold price ave 1997 (Tories leave power) $331

Hubble bubble toil and trouble

LisbonLaura

Jonbvn wrote: »

I do not understand !!!!!! you are on about???

Try being polite.

Haven't you ever heard of counter-party risk?

Out,_Vile_Jelly

I would have a bit more respect for the doom DOOM I TELL YOU mentalists if they did all actually live in fortified bunkers, like the proper hardcore ones in Idaho.

Just found this place; http://www.survivalismforum.com/forumdisplay.php?f=12 which is going to entertain me on a dull Friday afternoon.

StevieJ

Out,_Vile_Jelly wrote: »

I would have a bit more respect for the doom DOOM I TELL YOU mentalists if they did all actually live in fortified bunkers, like the proper hardcore ones in Idaho.

Just found this place; http://www.survivalismforum.com/forumdisplay.php?f=12 which is going to entertain me on a dull Friday afternoon.

Sounds like a nice little earner to bulk up your SIPPS for when you retire

Since I've been promoting survivalism I've been visited by
dozens of TV crews, talked on dozens of radio shows and made
several in-person TV talk and news programs. I've also given
numerous newspaper and magazine interviews. All the others
prominent in our field have likewise been interviewed by all
segments of the media. Many journalists write us up with no
contact except what they read about us.

sabretoothtigger

StiflersMom wrote: »

Too volatile and risky and nil-yield, with no intrinsic value.

Its value comes from being a means to exchange value same as holding cash. I agree houses are much more practical but holding some percentage in gold instead of cash isnt a bad idea either

DiggerUK wrote: »

Paper on the other hand, has only ever trended one way.

Normal currency can increase in value. Sterling improved first half of last year but long term appreciation has not occurred recently.
This does not happen because government debt is preferable with inflation so the public aim of government is to produce steady inflation

Do you think it is more worthwhile to buy gold or to (spread) bet on it going up in value?

If you hold gold then your saying you'd like to be in cash for a long time. A spreadbet is short term, seems a conflict of interest to me and in any case a cfd would work better

Drexels..............the company with the motto...."I Would Recommend People Buy Every Month Some Junk Bonds For Ever"


Hopefully this Faber loon isn't trying to flog us Junk Gold :eek:

The american partner set drexel up as the largest junk bond dealer in history. Bonuses were hundreds of millions. Unfortunately the deals were corrupt and he went to jail while the firm became insolvent.

Dont think Faber was involved but he would know first hand about market corruption and the worth of bonds in the extremes like we have now with 14 trillion USA debt

Faber also traded in the seventies and eighties, gold at $2700 rates at 20% and inflation double digits also.
He has enough experience on these things to make me worried how he might be right when predicting now

Right, buy at the peak of the bubble? As you are well aware, gold is NOT risk free.



I do not understand !!!!!! you are on about???

The worth of money can bubble or distort. I think the point was, cash has a risk to it also so people may be comparing gold unfairly because its price variation is more obvious.

If the worth of sterling to dollar goes from $2 to $1.30 and the price of british gold rises from £500 to £769. That isnt a bubble, it is confusing and thats the reason governments like inflation to solve their funding problems.



5 to 10% gold seems reasonable. Dont swing too far either way like over investing in housing, gold could be as good as or bad if people over do it

DiggerUK

StevieJ wrote: »

When the great Armegeddon is upon us I would suggest you have more security with a gun (and perhaps a map of where all the squirrelers are to be found).

If you must smoke and watch DVD's at the same time, stop watching Mad Max.

kabayiri

sabretoothtigger wrote: »

5 to 10% gold seems reasonable. Dont swing too far either way like over investing in housing, gold could be as good as or bad if people over do it

This seems like good advice in general for many asset classes.

I feel uncertain on investments, because I feel we live in uncertain times.

Buying a bit of gold now and then is just a hedging mechanism, and it's never been easier to buy it than now, mechanism wise.

But..equally, I understand the houses argument. So I've paid off that one too, I guess I've been lucky and not over-extended.

Shares has been a tricky one.

The banking crisis knocked some of my portfolio for 6 I don't mind admitting. So called 'solid shares' were no longer solid. I've been more cautious in the market since.

What annoys me is people poo-pooing someone's personal choice to buy gold. We know the risks, and we make our choices accordingly.

DiggerUK

chucky wrote: »

Gordo Gekko said lunch is for wimps :eek:

Gordon Gekko was a fantasy character in a movie.
He ended up getting stuffed over.

DiggerUK, he say "Gold is Good" and won't end up getting stuffed over.