Marc Faber: “Physical Gold” In Switzerland and Singapore Is 20% Of “Net Worth”

“Own physical gold because the old system will implode. Those who own paper assets are doomed…I have no faith in paper money, period.
About 20% of my net worth is in gold.  I don’t even value it in my portfolio.”
“Individuals are making a mistake if they’re holding all their assets in one country.…I still have the majority of my gold in Switzerland, but I am already moving gold to Asia.“



From Goldcore:
Today’s AM fix was USD 1,254.00, EUR 922.20 and GBP 761.89 per ounce.
Yesterday’s AM fix was USD 1,254.75, EUR 917.89 and GBP 756.42 per ounce.

Gold climbed $15.70 or 1.25% yesterday to $1,269.80/oz. Silver rose $0.20 or 1.02% to $19.78/oz.

Gold is marginally lower in most currencies today paring the first monthly advance since August. The gains yesterday came despite the U.S. Federal Reserve further reducing their massive bond buying programme to $65 billion a month.

Bullion for immediate delivery lost as much as 0.6% to $1,260.10/oz and was at $1,261.46 at 1500 in Singapore. Prices rose 0.8% yesterday on concern a rout in emerging-market assets may deepen and lead to contagion, leading to safe haven demand.

Increased physical demand in Asia has helped gold to rebound from a six-month low on December 31.

Marc Faber is back with a wide-ranging must read  interview with Barron’s. The astute investor who has a clear track record in protecting and growing wealth urged investors to own physical gold.

“Own physical gold because the old system will implode. Those who own paper assets are doomed.”

Faber added,

“I have no faith in paper money, period. Next, insider buying is also high in gold shares. Gold has massively underperformed relative to the S&P 500 and the Russell 2000. Maybe the price will go down some from here, but individual investors and my fellow panelists and Barron’s editors ought to own some gold.”

With regards to his allocation to physical gold, Faber was as transparent and candid as ever and said that he holds about 20% of his net worth in physical gold.



Marc Faber
“About 20% of my net worth is in gold.  I don’t even value it in my portfolio.”
Faber told the Wall Street Journal in December 2012 that:
“Individuals are making a mistake if they’re holding all their assets in one country.…I still have the majority of my gold in Switzerland, but I am already moving gold to Asia,” he said.
Mr. Faber said his Asian storage center of choice is the Singapore FreePort, located in its own duty-free zone near the city’s airport.

麥嘉華：市場很快陷入恐慌 20%資本凈值是黃金

末日博士麥嘉華（Marc Faber）最近接受采訪時警告稱，“他越來越強烈地感覺到，市場將很快陷入恐慌。”

　　麥嘉華透露，“美聯儲的一項分析數據顯示，大約半數美國人，自2007年以來，財富縮水40%。”他認為，美國股市的瘋狂上漲，並未給多數美國人帶來收益。
　　麥嘉華對美國公司的盈利結構表示質疑。他指出，數據顯示，在一些板塊，公司內部人員正在瘋狂拋售。一些公司一邊上調盈利，但卻未能足額繳納養老金。這是一個很大的問題。

　　末日博士建議，做空衡量美國小型股的羅素2000指數，同時買入10年期美債和黃金或黃金股。後者也是內部買入最積極的板塊之一。

　　麥嘉華承認，“我對紙幣沒有信心，我20%的資本凈值是黃金。”