Marc Faber: There's No More Downside For Gold

[Oz Waver]

Marc Faber: There's No More Downside For Gold
Mamta Badkar | Jun. 7, 2012, 8:43 AM | 3,190 | 9

Gold which was trading near one-month highs yesterday, is off 0.47 percent today,and at $1,626.20, is well off its 52-week high of $1,922.
Marc Faber, author of the Gloom, Boom and Doom report was on Bloomberg TV saying gold has bottomed out:
"I'm not sure that Gold will not make a new high this year, but I think we've bottomed out and some gold mining shares have become very very inexpensive compared to the reserves they have.
And i think that in the current environment where it is clear that the worse the economy becomes the more the money printers will be at work, that to own a currency whose supply can not be increased at the will of some clowns that occupy the central banks is a desirable investment."
Faber also said he thinks the Singapore dollar, the Thai baht, and the Malaysian ringitt are relatively stable currencies. While he likes the U.S. dollar and believes that tightening global liquidity will be dollar friendly the long-term prospects of the greenback aren't good.


Read more: http://www.businessinsider.com/marc-...#ixzz1xF4rVUqv

[Ebie]

"Gold" ?
There is 10 times more paper gold than real gold.
When will that printing stop?

[CiscoKid]

Bah! Gold is just a barbarous relic. When will people realize that their real wealth is in printed paper promises?

[bonedaddy]

Bah! Gold is just a barbarous relic. When will people realize that their real wealth is in printed paper promises?

Exactly!! When the wise men of High Finance took to the airwaves and proclaimed the ignorance and lack of class with the people that purchased and worshopped the barberic relics of ancient kings and kingdoms, I threw all that remained in my household in the Gulf of Mexico. Let the crap rest with relics of the past on the bottom of the sea.

For my friends and colleges, if you wish to rid yourself from the burdens you have heaped upon your shoulders, for no charge, I will dispose of your sins of the financial flesh also. Contact me for free disposal of barberic burdens of invaluable gold and silver. If you wish, I will even use my alchemy skills and transform your gold and silver into lead fishing weights ... again at no charge what-so-ever ... and return those tools of fishing ... at no charge ... so you can become a true fisherman and supply sustenance for your deprived family.