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Marc Faber thinks the crack-up boom is not sustainable, gold going lower
Posted on 26 January 2011 with 4 comments from readers
Back from his winter holiday in Switzerland Dr Marc Faber is in outrageously good form, lambasting the global leaders meeting in Davos, and predicting an end to a crack-up boom in the S&P 500, although US stocks will go down by less than emerging markets.
US treasuries should rally for two to three months and the US dollar rally as the S&P falls 10 per cent and emerging markets by 20-30 per cent (Faber said before the video segment below). Gold will correct by 20 per cent from its recent high.
Posted on 26 January 2011
Categories: Banking & Finance, Bond Markets, Global Economics, Gold & Silver, Investment Gurus, US Stocks, Video Channel
4 Comments posted by readers:
As I’ve said several times on this website, when Faber speaks, we should all listen carefully.
I agree with most of his assessments, and even his assessments on the current precious metals “correction” (sorry for the use of this term, John Mark, but it’s the “acceptable” word here!), except perhaps for the extent of this correction . . . a 20% fall in the price of gold is on the “extreme” side, especially when we consider the fact that these sharp corrections are “manufactured” or engineered by JPM and the gold cartel.
Several folks on this website, including myself, had been anticipating that this correction would last until shortly after the Chinese New Year, which occurs on 3 Feb. Another factor to be considered is the duration of the Chinese New Year celebrations, which traditionally last for one to two weeks thereafter.
Time will tell; at present, gold is down almost 7% while silver is down approx. 12.7%. Methinks that the current correction may not continue until the middle of Feb.
myself a born contrarian & “rebel with financial cause” – my compliments to the A$ chef – your free website is THE capsule comment mecca..your few words blow the
bogus financial “news” organs to pieces..i don’t know your background & could never care less..your opinion and reach are vital in a world of calculated misinformation..please continue – the world financial charade deserves your “emperor has no clothes”
Faber fans should watch the entire interview. He does not mince his words.
http://www.zerohedge.com/article/marc-fabers-most-provocative-interview-ever-compares-obama-prostitute-goes-long-treasurys#comment-904638
Hey, what is with the criticism? The US budget deficit for 2011 is only projected to be a paltry $1.5 TRILLION. I mean, what could possibly go wrong? All they need to do is bring back the $500 bills. Then the $1,000 bills. Then the $10,000 bills. Then …
Jim Rogers is now saying on CNBC World that inflation will soon take off and eventually topple many governments around the world.
If any of you get a new laptop with a touchpad with the tap, instead of left click feature, and want to disable it before you go crazy, you need to use the little Synaptics icon in Windows 7 on the bottom of the screen to do it. At least that is the only way I could figure out to do it. You could spend months learning what these new 64 bit laptops can do. I won’t.