Best place to store gold is Asia- Marc Faber

I wouldn't store it[Gold] in the US. I would rather store it in Singapore or in Hong Kong or maybe you bury it somewhere. 

But as I mentioned earlier, I think the tendency is going to be for politicians that have completely failed and utterly failed to essentially blame rich people for wealth inequality and then they will go to the people, to the masses, and say, "You know what? What we have to do is take away their gold. These are the people who damaged your economy. Let's take away their gold." 

And in the US they may do that, and in the ECB in Europe. The horrible politicians in Brussels and the US government are one in the same. They will go to the Europeans and say, "If we do it, why don't you also do it?" and Draghi and all these characters will say, "Yeah, good idea." 

And then they'll knock on the door of the Swiss and the Swiss, who have no backbone anymore – except their soccer team, who consists of foreigners, not Swiss, all born overseas or children of foreigners in Switzerland – the politicians and the Greens and the Socialists will say, "Yeah, good idea. Take the gold from the rich people." So my view is it's probably best to hold gold in Asia and Singapore and Hong Kong where there is a culture of private property and a culture of gold. 

Marc Faber: Gold to outperform S&P500, Nasdaq markets and US Dollar

My inclination is to believe that the central banks eventually will have to make a choice. They have created asset bubbles. At the same time, the economy has hardly recovered. 

What will happen when the asset bubbles burst again, say the stock market goes down 20%, the property market goes down and so forth? What will be in the mind of the Federal Reserve and other central banks? 

What will be in their minds is more money printing will do less damage than no money printing. And so the asset purchases, the QE 1, 2, 3, 4 will go on to what I predicted in 2009: It will go to QE 99. And as a result of that, not only the US dollar but all currencies will lose in value against some assets, irregularly at times. Real estate will go up at times. At times commodities will go up at times. Stocks and bonds will go up at times. But my inclination is to think that when this all happens and even before – because the market is a discounting mechanism – is that gold and silver will again appreciate against the US dollar.

Marc Faber still likes the yellow metal

Gold has done well since year 2000

And don't forget – and I have to stress this – the media is all over the fact that gold hasn't performed well, in September of this year, for the past three years and silver equally. But they never mention that between '99 and 2001, all precious metals significantly outperformed stocks and even today, precious metals between 2000 and today have significantly outperformed stocks. But the media paints people that own gold as kind of out of this world, out of touch. 

In my view, the recent gold rally has occurred amidst very negative sentiment. I get so many research reports from all over the world, from banks, investment advisers, gold bugs and so forth. 

General mood on Gold

By and large in this rally the mood has stayed negative. I think we made a major low over the last two years around $1180 to $1200 on the gold price and around $20 on the silver price, and I don't recommend people to put all their money into gold – but maybe they should; the question is, where would they keep it? Certainly not in the US – but in general I would say now is probably quite a good time to buy some gold and silver, and I believe that from here on gold and silver will outperform the S&P 500, the Nasdaq and the Russell 2000. It's my view.

Gold Silver are relatively attractive still

Now, if we have a complete breakdown of the monetary system then maybe everything goes down and then stocks may go down 80% and gold only 40% or 50%. I'm just saying, relatively speaking in my view, gold and silver, platinum, palladium are quite attractive and I recommend people to have at least some exposure to precious metals in physical form.







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Hold gold in Asia- Singapore, Hong Kong

I would hold physical gold. Preferably probably in Singapore, Hong Kong or other Asian countries. And gold shares are a trading opportunity because they’re so oversold and along with the performance of gold prices they should re-bounce quite strongly.

Gold is cheap says Marc Faber

Well, the problem with zero interest rate policies and money printing is that it distorts all evaluation models, it’s very difficult to value something. I could say, okay, this house in Mayfair or on Park Avenue or Madison Avenue in New York is expensive if I compare it to, say a quantity of money that’s been floating around the world, but maybe it isn’t. Is a Warhol painting expensive or cheap? Well it’s up, say 12 times over the last ten years, so it’s gone up a lot but the quantity of money has also gone up a lot and the number of billionaires around the world has also expanded and so forth and so on. So I can say, maybe gold relative to a Warhol painting or relative to the U.S. stock market is not that expensive or relative to Hampton property. Obviously those are up from 250 Dollars in 1999 to now over 1.300, so, expensive or cheap is a very difficult concept in the present environment.

The great caution

When money is printed it doesnt flow equally into the market. My concern is we are going to have a systemic crisis that will may not allow us to even hide in gold.

Buy something that is depressed

Faber has been calling for gold to outperform stocks, but acknowledges that the yellow metal has been in a correction. "I'd rather buy something that is relatively depressed than something that is relatively high," he said.

But while Faber expects a correction for equities, he still owns some stocks. "The equities I own, I bought in 2008 and 2009 in Asia," he said. "The Philippines, Indonesia, Thailand, where I have most of my holdings, are up four or five times since then."

Faber added, "I'm not short stocks. But I'm very worried about it."

Faber wants to jump out of the window

Reiterating his bullishness of gold Faber recently at a event in Helsinki said, In the worst case scenario, in the systemic failure that I expect, it(Gold) would still have some value. When the system goes down and only plastic credit cards are left, maybe then people will realize and go back to some gold-based system or such.

Faber said his outlook was so bleak that he is “hyper bearish. Sometimes I’m so concerned about the world I want to jump out of the window.”

Invest in Gold, Silver

Well I think investors are gradually realizing that it’s unusual, with all of the problems in Europe that the euro is actually relatively strong against the US dollar.  They are realizing US holders don’t want to hold euros because they don’t trust the euro and the Europeans don’t want to hold dollars because they don’t trust the dollar.

Marc Faber is a famous contrarian investor and the publisher of the Gloom Boom & Doom Report newsletter.

Gold will not go below 1000 again

I am not so sure there's a huge dollar carry trade. What happens is that worldwide because interest rates are at zero percent institutions as well as individuals borrow money and they go and speculate. The dollar carry trade is frequently misunderstood in the sense that there are big short positions in the dollars. But one shouldn't over estimate the short positions in dollars because the world is basically awash in the dollars."

There are too many dollars floating around from the American current account deficit that reached USD 800 billion annually and total international reserves in the hands of central banks now are USD 7.7 trillion. That is the dollar overhang and to some extent some people want to hedge their dollar exposure and then they sell dollars and buy foreign currencies and of course also precious metals including gold, silver, platinum, palladium.

Gold can correct to $800 to $900

I should also mention some concerns (for now of short-term nature) I have about commodity prices including gold. A large number of commodities including oil, the CRB Index, and gold broke out on the upside in early October. I would regard a failure to hold above the “upside breakout points” in the period directly ahead with great caution. In the case of gold a decline below $1000 would likely lead to further more meaningful weakness (possibly down to between $800 and $900).