Marc Faber - Don't Hold Physical Gold in the US (CNBC April 17, 2011)

[MrMacal1]

@Marc Farber: Could you explain it a little bit more extensive?

[Airmanf7]

Love how they brushed off the idea about not holding gold in the US.

[wilsmanpeterexcess]

Never put gold in a safe deposit box.

Uncle Sam will get it in another bank holiday...like they did in 1933

by presidential decree.... Go Roosevelt !!!

[hm2ski]

You can store offshore in Switzerland. Swiss Metal Assets does it.

[NYWAORCANZ]

you could turn your Gold into a small sculptures and paint them black as in the movie "THe Maltese Falcon"

[polevaultrockstr]

If the US was stupid enough to try and confiscate gold again, only 1 person was prosecuted in 1933 for not turning his in, they would show their hand as being crap. Less than 1% of investors in the US have money in silver and gold, why on earth would they let people know that they have no gold? There is no point in attempting to take such a small amount of property from americans, essentially showing the world we are broke. I'd love to see them try because it will skyrocket the price from fear.

[kcrone1]

I wanna hold a 55 gallon drum of physical oil,,,,anybody here selling???

[TiredOldFart]

@kcrone1 olive oil is easier to store, more valuable and stores longer. Long olive oil, short crude.

[vanessablackjack]

Trade GOLD and be rich!! Hey want to witness 90% accuracy in gold trading? Come join the Free Demonstration for Gold Trading Academy Secret Code. Google Gold Trading Academy to learn more.

[tcorourke2007]

Thanks for posting & especially including the date in the title.

The fact that these programs don't display the date/time onscreen seems indicate they have little idea that many people are watching after the original broadcast, on YouTube, etc.

Kinda makes it tough to respect their opinions...

[IceZero123]

@tcorourke2007 I wish I could 100 thumbs up this comment. Interviews like this are borderline useless without the date.

[ShoppingIdiot]

Ok. How does one hold gold outside one's own country?

Oil down to $82.70 now.

Neither of his oil scenarios played out. Marc forgot to suggest that recession fears would bring oil down..which is what happened to oil in August 2011.

10 year treasuries are about 2.00% Doesn't that reflect recession and not inflation?

Diversify good. Farmland, equities, real estate, cash, gold and silver.

Sounds good. But why cash? If currencies are doomed?

.

[TumisHumis]

@ShoppingIdiot As we've seen in the last few weeks, cash can be king some days on the market. I know for a fact that fiat currencies are doomed, and going to become toilet paper in my generation, but it's the most accepted form of currency, so hang on to a bit to take advantage of any other investments you can find. Investing 100% of your capital in something doing well is good, but investing 75% in that same thing, and saving the 25% for something great, can be better.

[jimbobubbadj]

@ShoppingIdiot Shortages of oil will cause prices to go up too.

[jimbobubbadj]

@ShoppingIdiot True inflation is much more than 2%. shadowstats(dot)com has the true numbers. The Fed buys treasuries to keep the rate down. The dollar has declined about 99% since 1913. As Mark said, there has been much money printing.

[brown55061]

I don't think Faber understands the laws and how gold was confiscated in '33. FDR had to do this because banks had no reserves for lending purposes. They needed gold in the vault to encourage borrowing to boost the economy. They can try to take people's gold but they aren't so naive this time. Nobody will turn in their gold voluntarily. Another good reason to own silver!

[Raycheetah]

While I respect Marc Faber, I can't see a realistic scenario in which it would even be worth the effort (or the public outcry) for the US gub'mint to do this. In 1933, Gold was the currency, and many people held it. Now, practically no private citizens hold Gold (or Silver), and the banks and large entities will have plenty of ways to protect their Gold. It's pointless. =^[.]^=

[Andreas748]

@Raycheetah .....wasn't it reported this guy is down -30% this year? 

[blabblab1212]

Is it my imagination or are a perfect pair of tits lurking beneath that blouse..................

[tracygonecrazy1]

Where exactly are they going to get the money to buy every american's gold at market price ? Doesn't make sense.

[therighttoremain]

@tracygonecrazy1 You print it.

[tracygonecrazy1]

@therighttoremain People who hold gold already don't like printed money. If they printed it to buy everyone's gold then goldbugs would never sell it to them. It would remain buried whereever it is.

[therighttoremain]

@tracygonecrazy1 That is true to an extent but the vast majority of the physical gold in the US is held at the Federal Reserve Bank of New York. This could be easily seized by the US government should they choose.

[tracygonecrazy1]

@therighttoremain That ain't my gold, so why should I care ?

[therighttoremain]

@tracygonecrazy1 Because if you try to sell it at it's peek in the US then you will be committing a crime that could see you receive a prison sentence. And if you try to take it out of the country, say to Canada, this may also be a crime.

[tracygonecrazy1]

@therighttoremain It's amazing how a gold coin fits so unobtrusively into the nooks and crannies of an engine compartment isn't it ?

[therighttoremain]

@tracygonecrazy1 I'm sure you'll find a way to sell it if and when the time comes.

[rothschilds666]

@tracygonecrazy1 simple. just read how they did it in 1933

[drflynn73]

If you're in the US, melt down your gold to make gold guns. Then it's unconstitutional for the gov to take away your guns (gold guns).

[Bass20HZobsession]

@drflynn73 gold is a soft metal and would then be called a replica gun since it wont function properly

[rpo11234]

@drflynn73 unfortunatly you will lose those too since they will pretty much do whatever the fuck they want when shit goes nuts

[jimbobubbadj]

@drflynn73 Just hide it. They can't take what they can't find. 4 feet down and no metal detector can find it. In the 30's they only raided safety deposit boxes in banks. They didn't have the resources to raid each and every home.

[bezant1971]

@drflynn73 lol, but they did in New Orleans

[oneleftshoe21]

Go Faber

[SidneyBou]

@Torbon8372 Bury your gold they can kill you and still not have it.

[yoyuepz]

@SidneyBou lol