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Marc Faber: In The Age Of Cyber-Terrorism, Every Investor Must Own Gold
08-20-2017, 06:59 PM,
#1
Marc Faber: In The Age Of Cyber-Terrorism, Every Investor Must Own Gold
Marc Faber: In The Age Of Cyber-Terrorism, Every Investor Must Own Gold

<p><a href="https://www.hardassetsalliance.com/our-blog/marc-faber-in-the-age-of-cyber-terrorism-every-investor-must-own-gold-1#.WZnSGSiGPAR"><em>Authored by Shannara Johnson via Hard Assets Alliance,</em></a></p>
<p><strong>Take it from &ldquo;Dr. Doom&rdquo;: own some <a href="https://www.hardassetsalliance.com/education/how-to-buy-prcious-metals-like-a-pro-the-most-indepth-guide-for-investors#.WYTAFlWGOUk" target="_blank">physical gold</a> and keep it out of the banking system.</strong></p>
<p>Dr. Marc Faber, a legendary investor and the editor/publisher of the <em>Gloom, Boom &amp; Doom Report</em>, is well known for his contrarian investing style.</p>
<p>In a recent <a href="http://www.hardassetsalliance.com/go/v34q48/HAA" target="_blank">Metal Masters interview</a> with the Hard Assets Alliance, he noted that the<strong> biggest geopolitical risk for Americans today is not a conventional war but rather cyber-attacks that could take down the US power grid.</strong></p>
<p>In such a scenario, gold would become an irreplaceable medium of exchange. But it&rsquo;s not the only reason to own gold today.</p>
<h3><span style="text-decoration: underline;"><strong>Diversified Assets Outside the Banking System</strong></span></h3>
<p>Faber grew up in Switzerland right after World War II, a tough time that caused his family to distrust paper money and taught him the importance of precious metals as a safety net.</p>
<p>Faber remembers how his father talked about rich people as millionaires.</p>
<blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong><em>&ldquo;</em>That, in the &lsquo;50s and &lsquo;60s and &lsquo;70s, was a lot of money. Today, a million is nothing at all&mdash;small change. Unfortunately. When people talk about, &lsquo;Oh, there is no inflation in the system,&rsquo; this is nonsense. Compared to assets, money has lost a tremendous amount of purchasing power.&rdquo;</strong></p>
</blockquote>
<p>After working on Wall Street for over two decades, Faber&rsquo;s assets consisted mainly of bonds, equities, and real estate. He says it was in the 1990s when he realized that &ldquo;it&rsquo;s good to have a diversified asset outside the banking system and not financially related&rdquo; and began to purchase some <a href="https://www.hardassetsalliance.com/education/gld-vs.-physical-gold-which-is-the-better-investment-now#.WYTAT1WGOUk" target="_blank">physical gold</a> every month.</p>
<p><strong>The Fed largely ignores gold as an asset, he says, because &ldquo;gold is an embarrassment to central banks.&rdquo;</strong></p>
<h3><span style="text-decoration: underline;"><strong>When the Lights Go Out, Bitcoin Goes Too</strong></span></h3>
<p>Regarding a possible war, Faber believes it&rsquo;s unlikely that anyone will ever invade China or the United States. He thinks the true vulnerability lies in &ldquo;wars that are fought not with tanks&mdash;they are fought by, say, somebody could switch off the light in New York, or the electricity, or the Internet. If you switched off the Internet, what would happen?&rdquo;</p>
<p>This is where the merits of <a href="https://www.hardassetsalliance.com/resources-and-tools/charts/gold-price/usd/oz" target="_blank">gold bullion</a> become obvious, he says: &ldquo;In these times, you actually want to have access to something physical that is a recognized medium of exchange.&rdquo;</p>
<h3><span style="text-decoration: underline;"><strong>&ldquo;Gold Is Driven by Money Printing&rdquo;</strong></span></h3>
<p>When the Fed pursues loose monetary policies, Faber states, the people who benefit the most are the super-elite, the 0.01%. They have been moving ahead while the average American suffers:</p>
<blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>&ldquo;50% of American people have no assets. &hellip; They don&rsquo;t benefit from money printing. Actually, they&rsquo;re hurt because their cost of living is going up, and it&rsquo;s going up more than the CPI would indicate.&rdquo;</strong></p>
</blockquote>
<p>He believes &ldquo;that the recovery, globally, is very weak&rdquo; and the rapidly growing unfunded liabilities are a clear threat that could lead to another financial collapse.</p>
<blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&ldquo;By being in equities and by <a href="https://www.hardassetsalliance.com/education/the-best-place-to-buy-gold-5-options-with-pros-and-cons#.WYTA81WGOUk" target="_blank">being in gold</a>, and also having some exposure to bonds, you have some diversification,&rdquo; he says.</p>
<p>&nbsp;</p>
<p>&ldquo;Then you can hope when the hour of truth occurs, you will only lose, say, 50% of your assets, but your neighbor loses everything. So relatively speaking, you will have done very well.&rdquo;</p>
</blockquote>
<p><a href="http://www.hardassetsalliance.com/go/v34q48/HAA" target="_blank">Click here to watch the full interview with Marc Faber for more advice on how to weather a crisis.</a></p>
<p><strong><a href="http://www.hardassetsalliance.com/go/v34q48/HAA" target="_blank"><img class="img-responsive" src="https://images.hardassetsalliance.com/images/Image_1_20170815_HAA.jpg" style="width: 600px; height: 306px;" /></a></strong></p>


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