HUGE NEWS! Nothing Will Prepare You for What’s About to Happen to Gold & Silver Prices – Marc Faber
Marc Faber, the Director of Marc Faber Limited whose skill as an investment advisor and fund manager has left a notable imprint in finance. In this video, Faber delves into gold’s historical price, its role as an inflation hedge, and concerns about government influence. Gold is a proven long-term hedge against inflation but its performance in the short term is less convincing.
The year 1971 marked the end of the gold standard and the conversion of gold into dollars. The price of gold was unrestricted! If we look at the price of gold over ten years, we can see that the 70s were marked by a very significant rise. The price of gold rose from 35 to 850 dollars an ounce between 1971 and 1980, in line with the oil crises, galloping inflation and international conflicts.
Faber is confident the US dollar’s global reserve status will diminish over time, similar to past currency replacements like the Spanish “speceta” and the British pound. The US dollar now accounts for 58% of foreign exchange reserves held by overseas central banks, a record low. Gold, the most ancient widely accepted international currency, has chipped away at some of the dollar’s dominance, accounting for 15% of reserves, up from 11% five years ago.
Faber sees trade moving away from G7 countries to countries like Saudi Arabia, India, China, Brazil, and Nigeria, hinting at a slow shift away from the US dollar. The current BRICS five now contribute 31.5% of global GDP, while the G7 share has fallen to 30%. The BRICS is expected to contribute over 50% of global GDP by 2030, with the proposed enlargement almost certainly bringing that forward. China’s GDP actually overtook that of the United States in 2015 when comparing economies in purchasing parity terms.
During the interview, Faber assessed recent US central bankers like Powell, Yellen, Bernanke, and Greenspan. He viewed Paul Volcker as the final effective one, followed by a policy change.
Volcker was Fed chair between 1979 and 1987, famously ‘breaking the back’ of inflation in the early 1980s by raising rates to as high as 19%. He killed inflation, but at a cost – the unemployment rate shot up to 11%, the highest since 1940 until the COVID pandemic, while inequality exploded.
Faber broaden his criticism to cover the European central bank and Japan’s monetary policy. The Bank of Japan’s short-term interest rate target has been held at -0.1% since it first adopted negative rates in 2016 to fight chronic deflation that has plagued the Japanese economy for decades and jumpstart economic growth. It is keeping current policy to cope with growth it still sees as fragile.
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12 Comments
The death of the Dollar means a rebirth of World Trade.
Send their asses to North Korea, Cuba or China guaranteed they'll have a change of heart, when they'll see their freedoms stripped away, they'll kiss this US soil and wanna fight for freedom!!…Its only when the good is gone that one will start too lament!!!
I'm so happy I made productive decisions about my finances that changed my life forever, hoping to retire next year… Investment should always be on any creative man's heart for success in life.
I dated Charolette Bates a couple years ago. She was pretty hot and juicy. But let me warn you, Charolette was not much on investments. When I was going with her, she couldn’t even balance her check book.
Why has the price actually gone down lately? Lots of demand and buying so would have thought it would be up. Down approx £250 an ounce from its best price.
Sadly this man has spoken truth but who will hear him ? Maybe by hindsight looking back but what good will that do for our state of being in the here and now when most people are asleep, good God in heaven ? WAKE up America. IN GOD WE TRUST, repent for your children will suffer for your lack of knowledge and response to the situation at hand. Oh Israel! May God's will be done come what may but know this that is not his fault but by those who were and are wolves in sheep's clothing posing as Prophet's and Apostles in these last days except for the one's that do exploits for the God of ABRAHAM ISAAC and JACOB which is now the real ISRAEL for she will do no wrong that turn to Christ Jesus. Hallowed be your name Almighty God and Father and I now only see One and it's the Father in the Son and the Son in the Father by his Spirit and we which are called and chosen for his name sake to tell others that they too may come to Faith in Christ Savior of man kind. Selah Shalom Amen ✝️ AMEN✌️
JUST DESTROY THE COLONIAL EMPIRE AND FREE YOURSELF !!!!!!!!!!!!!!!!
Thank you gentlemen especially Mr Faber for his words , it helps so that I and my household may contemplate and prepare for the days and God willing the years ahead if they do come to pass as he stated. ✝️👍
Thanks for the update and keep doing what you're doing. My journey in the current market has taught me many lessons, thinking about investment diversification is certainly key, which is why I have dealt with sectors based on projected growth. There are no shortcuts to wealth, but there are smart ways to do it. Pro Brianna Pearce was my advisor and trader for a while now she has done a great job looking at all the charts and trading BTC which has recently boosted my portfolio to six figures.
Dad told me same first gold. Next girles as much as u can
Gold and silver are renowned for stability during economic volatility. However, one should not disregard cryptocurrencies, offering unique prospects like liquidity, continuous market availability, and potential gains. In this digital era, entering the world of crypto trading can be a wise decision for substantial growth. I owe significant portfolio growth of 19btc! in just 7 weeks to Antonia White expertise and guidance
Will Silver drop to $11.70 per Troy oz Q4 2023 or Q1 2024 (NOT FINANCIAL ADVICE!)? Thanks!