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Marc Faber: Gold to $1 Trillion an Ounce

Mac Slavo
February 15th, 2009
Comments (2) Read by 285 people

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Yes, it’s a sensational headline, but in the context of Dr. Faber’s interview it makes sense. Dr. Doom appears on Bloomberg to give us his ideas on how the government should handle insolvent banks, what we have done wrong and strategies for survival.

I can tell you that the current economic crisis and financial crisis is a direct consequence of continuous US government intervention into the economy through fiscal and monetary policies that have been designed to never have a recession and to combat recession.

And what has happened, is that if you never have a recession it’s like someone who never sleeps. You need some sleep, a resting period, and then you recover. And that has happened in the US, we never had a resting period.

Marc Faber tells it like it is. It seems that through our policies as well as main street spending habits, that we expect to always be in a ‘boom’ environment. We’ll get the sleep Marc Faber is speaking of — but perhaps it will be a heart attack induced coma.

This way, with the stimulus package the government is proposing – especially the spending package – I think the depression will last longer and the government that is largely unproductive will continue to grow at the expense of the private sector and drown out the private sector.

‘Nuff Said.

I have to repeat once again and very clearly. It is not a failure of the free market that brought about the crisis. It is continuous government intervention with fiscal and monetary measures that have brought the crisis about. And now the same people that brought the crisis about want to solve it with more intervention.

For those that didn’t get this the first hundred times Marc Faber has said it, hopefully you get it now.

Doctor Faber also talks a little bit about strategy. It has been stated by Peter Schiff and Mark Faber that gold will eventually be worth more than the Dow Jones. The question posed is, “does gold go up to $8000 an ounce or does the Dow Jones come down to 1000?”

If Mr. Bernake continues to pursue monetary policies based on the Zimbabwe monetary policy to print then the DOW will go to a Trillian and gold will go to a Trillion or higher. And if you have tight monetary policies and the DOW drops to 4000, then maybe gold will be at $4000 also.

Hyperinflation should be a concern for everyone, including the average citizen, as well as our creditors around the globe (what better way to wipe out our debt!). I hope that at some point we actually stop printing money. I sure as heck don’t want to pay $1 Trillion for an ounce of gold! I suspect it will be closer to the $4000 mark when the government realizes that they have made a huge mistake in their approach to handling this crisis. Let’s hope, for all our sake, that they figure this out soon.

Watch Marc Faber on Bloomberg:

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Author: Mac Slavo
Views: Read by 285 people
Date: February 15th, 2009
Website: www.SHTFplan.com

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  1. SoontoBeTrillionaire says:

    Considering the price of gold at around $900, maybe it is time i buy some more? $1 Trillion seems like a good profit on an ounce!

  2. Amused says:

    I hope it doesn’t reach a trillion an ounce!  The Warp 9 hyper-inflation we would be experiencing at that point would be like Freddy entering your dream on a massive dose of steriods.