Wednesday, June 29, 2011

Marc Faber Continues to Like Gold and Silver and Accumulating - Warns Against Trusting Central Banks

Overnight Marc Faber, publisher of the Gloom, Boom & Doom report, told Bloomberg this morning (see interview below) that he still favours gold and silver. He said there could be short term weakness but that he will keep accumulating gold. Faber warned against shorting the precious metals as they are likely to keep going up.

He also warned regarding recent incidents of fraud and corruption by newly listed Chinese companies and said this was indicative a bubble.

In his usual contrarian and witty manner, he said that "not to own any gold is to trust central bankers and that you do not want to do in your life."

 

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