Thursday, November 14, 2013

Marc Faber hopes gold prices is manipulated downwards

There are lots of theories about manipulation in the gold market. I always say, this doesn’t concern me, and I hope that the central banks manipulate the price down because if that is the case – don’t forget that every manipulation eventually leads to a move in the opposite direction that is very violent – so in other words, if someone manipulates the price down, in my view eventually the price will shoot up very dramatically. 

It’s like if you have wage control, eventually the wage control falls apart and wages go through the roof. Similarly if you have in the commodities market price support like coffee or oil or what not, eventually the price falls through the price support and so forth and so on. 

Market force is always more powerful, so I hope the gold price was manipulated down because then it will go through the roof eventually.