Faber, is a deflationist/inflationist, at this time, meaning the two can go together at the same time for quite sometime( equities are , for instance, a deflationary or inflationary entity at any given time)
But bottomline he sees the point of virtual valuelessness coming to pass--i think that is the key word for the Faber's end game view , "valuelessness".
The paradox then being that which is an essential substance, such as food and land , rise suddenly into major inflation.
His Physical Gold view as opposed to physical silver, is that it is impossible to store an equal value silver "under your bed":)
His gold premise remains on the historic view, people have a mental drive to go gold over paper, whether the Fiat world likes it or not.
Truth is Gold is an extraordinary metal--and both its beauty and status value is NOT a small matter.
But Faber is quite serious when he says the FIAT World will remain hostile to Gold, and confiscation a real threat-especially in the U.S.(where there already exists that the precedent has been established)
i myself do not own any physical gold(beyond some gold items), nor will, as at nearly now 69, i don't really care(vbg:) Max
Will note down David Rosenberg's name and check out. Max |
