Marc Faber - Fox Business News - 28 November 2011

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[delatroy]

I hate how these presenters close out by invariably stating with authority a summary of what they wanted to hear instead of what was actually said. Hey guys don't worry everything is okay. You can go back to Disney land now. While we have the luxury to point out these ironies and make fun of them today, believe me that it won't be long before we are scrambling for survival.

[champion1098]

marc faber=wisdom

[GreatInca]

@arentolfinance I'd only keep TL-30 at home. If you don't think TL-30 is secure enough,you probably have too much and will certainly be a target. If you hoard too much for a TL-30 you'll need to multi-locate to a private vault(s) - keep clear of banks. RSC & TL-30 are the best bangs for the buck. Price spikes @ TL-30x6. There is also TRTL-30 / TRTL-60 (torches), and TXTL-60 (8oz of explosives). A hostage scenario possibility makes anything over TL-30 not worth it for hoarding @ home

[GreatInca]

@arentolfinance TL-30 means it has been tested by experienced safecrackers to resist a full 30 minutes of attack by power tools (saws, hammers, picks, axes, drills). The other 5 sides are tested for 15 minutes (TR-30x6 is 30 min for all 6 sides). RSC (Residential Security Container) is kinda like TL-5 - it is tested for 5 minutes of attacks. Many gun safes and cheap home safes and sentry type of safes don't even have an RSC rating.

[arentolfinance]

@GreatInca USD? SGD? HKD? CDN? AUD? RSC? TL-30?

[buffett1000]

"Hey guys don't worry everything is okay. You can go back to Disney land now" Brilliant, you are so right.

[exitiummagnum]

Hah, Faber forsaw the yesterday's central bank easing!

[manoman0]

@mikailmari = communist

[GreatInca]

I would not recommend closing your bank accounts but do keep balances as low as possible. Definitely not more than 1 month's after-tax income. For banking holiday preparedness, 1-4 month's after-tax income in cash 'under your mattress'. Everything else should be physical gold & silver. If you really need diversity and have a friend or family member with a budding small business that has a decent chance of not being regulated into the ground, maybe you could invest as a partner (maybe job too).

[GreatInca]

100% physical gold & silver. Up to a decent new car's worth ($30,000-40,000 after accessories, taxes, fees) in an RSC safe (most gun and fire safes don't even have a RSC / TL-5 rating), up to a starter home's worth ($100,000-$150,000) in a TL-30 safe (with some in a RSC decoy safe). Beyond that you need a private vault such as mountain vault (Phoenix) or 24-7 private vaults (Vegas). Private vault storage starts at $30/month and is less than broker and mutual fund fees (dep on trade vol / fund)