Marc Faber - Why is China Buying Gold?
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Uploaded by marcfaberblog on Mar 13, 2011
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In a recovery like we have now, risk appetite is coming back. Because of that, silver may outperform gold for a while. If you want to store your own monetary metal, gold is more compact and easier to store.
The Chinese have very large reserves, and when they look at Bernanke they don't want to do business with him. For this reason, they are buying things like gold and copper. Resources for them are a top geopolitical priority because they are naturally poor in those resources. They don't trust the dollar anymore, and rightfully so. The Chinese recently announced that it had acquired more than 400 tons of gold, and once the market was made aware of this news, the price rose sharply.
Once the government debt is sufficiently large, the government bond market will break. The temptation will be to keep interest rates artificially low. Some Harvard grads have proposed that there be a negative interest rate in order to stimulate the economy. It is mind-boggling what kind of nonsense these people think. But this is exactly the same state of mind at the Federal Reserve. Without inflation, the entire system would have completely collapsed. They are postponing the true solution.
The United States government currently has a AAA credit rating, but there is no way that they deserve that rating. They will keep lending money to banks for free, and this will lead to more unintended consequences.
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Top Comments
All Comments (21)
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A big bomb will land on the US and wipe it of the earth together with its dumb people!
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China are buying tonnes of gold, because they know in the future when they will buy oil from Iran, they will use the gold to pay for it. India have already adopted this method, so the US and EU can just fuck off and stop telling others what to do!
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Well the US is has been down graded from AAA, just like the guys said.
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450 tonns, doubt thats physical,,, just IOUs??? hahahah
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and no more money lending from the Chinese to the US which would equal bankrupcy for the US.
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@santsuma Sometime in the distant future existent through a parallel universe!
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@superhawkn retard
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lol right. so smart
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@marcfaberblog Could you please inform the DATE of this interview?
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I will borrow 100 dolllars and pay back 95 till hell freezes over. God Bless our wise leaders print baby print. We had better learn to sprinkle sugar on our shit as we eat it.
Because thats all our money will buy soon.
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