“No Safe Assets Anymore” So “Focus On Precious Metals” – Faber

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Today’s Gold Prices: USD1130.05, EUR 1005.88 and GBP 739.63 per ounce.
Yesterday’s Gold Prices: USD 1140.00, EUR 1010.73 and GBP 746.46 per ounce.
(LBMA AM)

“No Safe Assets Anymore” So “Focus On Precious Metals” – Faber

Respected economist and historian and the editor of the ‘Gloom, Boom & Doom Report’ Marc Faber warned on Bloomberg TV’s Market Makers yesterday that there are now “no safe assets” including deposits and said that he is focusing “on precious metals.”

In another informative and interesting interview, Faber spoke about dangerous central bank policies and the stupidity of QE, the cause of inequality including competitive currency devaluations and warned that even deposits are no longer safe.

“I think that because of modern central banking and repeated interventions with monetary policy, in other words, with QE, all around the world by central banks there is no safe asset anymore. When I grew up in the ’50s it was safe to put your money in the bank on deposit. The yields were low, but it was safe.”

“But nowadays, you don’t know what will happen next in terms of purchasing power of money. What we know is that it’s going down.

Read more on the GoldCore blog

IMPORTANT NEWS

Gold extends rally, Chinese frailty sinks equities – The Bullion Desk
US Mint’s American Eagle Bullion Sales Rally in August – CoinNews.net
Gold at One-Week High on Weaker Equities and Dollar’s Retreat – The Wall Street Journal
After a 39% Rout, China Stocks Are Still Double Hong Kong Prices – Bloomberg
Asian shares fall for third day on global growth concerns – Reuters

IMPORTANT COMMENTARY
Gold Coin Sales Surge 306% YoY In August, Silver Sales More Than Doubled – Gold-Eagle
U.S. Gold Production Finally Hit Hard Due To Low Price – GoldSeek
Keiser Report: Stop What’s That Sound? Falling Markets! – Max Keiser
Money—How to Get It and Keep It – Casey Research
‘Death cross’ patterns spread to all corners of the stock market – MarketWatch

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