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Thursday, April 5, 2012

Marc Faber on Where To Hide Your Gold

Marc Faber says that you should keep your Gold holdings outside the reach of potential confiscators “As you know, we had MF Global. What did the clients get? Less than what they had at the company,” “And I think eventually the financial system will be an MF Global, where you don’t get your money back from the banks and the investment banks and from the mutual funds and so forth and so on. And so I think everybody has to think to himself: how do I protect myself against the Black Swan event?” Marc Faber told Chris Martenson in a recent interview “Where is anything safe? I mean, I think in a safe deposit box is relatively safe, but maybe not in a safe deposit box in the U.S.,”
“If you look at the MF Global case, it seems—I don’t know for sure—but it seems some people got their money, but not others. This is a very disturbing thing to happen in the financial system. And when I see this, I think we have to be very prudent, so I would hold a safe deposit box outside the U.S.. “Now the question is: how is it to hold a safe deposit box with a bank if the bank closes down. And this happens,” Faber continued. “You can also hold safe deposit boxes in duty-free stores, warehouses at airports around the world. In Switzerland we have them; in Singapore we have them, and so forth. So that’s a possibility.” Faber explained

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