Dr. Marc Faber discusses global fiat currency printing and inflation on April 22, 2010 and told CNBC that owning cash in this economic environment will be “a disaster.” Instead of cash, Faber advised investors to “gradually accumulate physical gold and silver”. “Paper money (will go) down relative to precious metals.
3 comments:
I'm am always disappointed when the host or other guests intrupt the speaker. Call me old fashioned, but I think it's rude. Thanks, Randy.
REALLY fascinating day for those that watch the precious metals, like I do. Silver had some wild swings and held up through a huge commodity sell off. Gold fared even better. Looks like hedge funds will sell ANYTHING before their gold.
Good luck you crazy metal heads.
Wild week. Around Tuesday, I sold my ZSL for a gain, as Silver gave a reversal signal. I didn't buy silver though, as I had mixed market signals, mostly negative and could not figure out directions. On Friday, we had a nice correction, and I bought the close.
For you gold and copper fans, FCX is almost perfectly oversold (think it finishes the move at under $73, early next week).
All other gold stocks are up against resistance to the high side, and I'd take profits.
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