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Faber: “Physical Gold” In Switzerland and Singapore Is 20% Of “Net Worth”
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.
Find out why Singapore is now one of the safest places in the world to store gold in our latest gold guide - The Essential Guide To Storing Gold In Singapore
»
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When wealth is held communally, it always ends badly. To be clear, I am not advocating the current American system. We do not have any Capitalist societies in the world today, all we have are hybrids of some sort of Socialism combined with some sort of Capitalism. All forms of Socialism end badly, because of one thing: the size of government. When wealth is held communally, it requires the use of force to maintain that wealth. When the size of government gets too large, it ends up having to use force. Look at the 20th century, the most bloody century on record. Look at what type of governments perpetrated the largest amounts of murder. You will find that they were all one type or another of various forms of socialism. Most impressively of all, they killed their own citizens in larger numbers than they killed foreign citizens in war-time.
Be independent, and not rely on anyone (government or otherwise) for any single thing, and then trade as locally as possible for what you do not have. Tend your own flock, leave everyone else's alone. That's the only way to be free.
GoldMyth & Satoshi - government is how people decide to live together - if people decide to live and let live, there will be freedom - if people allow themselves to be enslaved, they will be
It's not a matter of just setting it up and letting it run. Government is not a clock. There is no such thing as "non-hierarchical". A leader, or representative, will emerge from the smallest of groups. The larger the group, the more the need for representatives between them.
As an individual, you are always free. The only way someone controls you is if you let them. Your options may not be desirable, but it is still your choice.
We are all, simultaneously, an individual and a member of many groups.
We the People create the world we live in with every choice we make.
Truth => Individual => Responsibility => Freedom
Anarchism is communalism in its purest form. - Emma Goldman
All government is beating killing, and imprisoning. - von mises
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But -ism's will not help us win the war, or the battle for this day,
TELL THE TRUTH AND RUN - SELDES
How Do You Tell The Leaders From The Mis-leaders? Seldes found just one
answer to that question. He said so in a speech and I have a copy to hand;
it is from his 1953 book "Tell The Truth And Run" p.118-119, extracted below.
[BEGIN EXTRACT] "...Is there a simple way by which an intelligent but
confused people can test men and parties, a sure way? I do not know if I
have the right answer, but about Christmas time,1944, when Clifton Fadiman
for the Writers War Board asked me [among scores of others] to write a radio
address to the Germans [which our Army later broadcast to the civilian
population from transmitters along the front], I sent the following:
People of Germany:
I hear you say the same words today I heard on December 13, 1918,when I
marched into Coblenz with the First Division of the American Army.
You shouted then and you shout today: "Wir waren belogen und betrogen." You
cry out that you were "lied to" and "betrayed" by your leaders. In 1918 it
was the Kaiser and the Junkers who had fooled you into a commercial war;
today it is the Nazi crowd of politicians, cartel businessmen,
landowner-Junkers---practically the same outfit.
You had your eyes opened suddenly in November, 1918, when the men of the
fleet and a few labor leaders with their armbands reading "Arbeiter and
Soldaten Rat" [Workers and Soldiers Committees] came to the cities and
overthrew the monarchy, and you had your eyes opened the other day when from
the underground the real leaders of the people of Germany suddenly appeared
and overthrew Fascism.
I saw you in 1918 raise your fists to the sky and shout "Nie Wieder
Krieg"---"No more war". I hear you shout "no more war" today.
But I also hear someone who is not being carried away by the great elation
and the great emotion of this great day. I hear a man call out: "But we will
be betrayed again--and again-- unless we , the common people, find a way to
tell our friends from our enemies. How can we tell who are the real leaders,
who are the misleaders? Hitler promised us everything good. How can we tell
when false leaders arise and make promises?"
I think I can answer that. Let me ask you, first, what did Hitler do about
labor--about the labor unions? Remember, he never had the backing of labor.
He fought labor. He was anti-union.He had been a scab and a labor spy. And
the first thing he did when he seized power was to smash the unions by
confiscating union treasuries.
And Mussolini? He gave the people what he called a "Labor Charter". But it
was a slave charter.. He organized labor-management committees, but the
employers named the labor men on them as well as their own.
It is so in all Fascist countries. Labor is the bulwark of democracy. Labor
is the people. So this is your answer for the future: Judge and test every
man, every leader, by his words and actions regarding labor. If the Italian
people, who knew Mussolini was a labor-faker, and the German people, who
knew in 1922 that Hitler was a tramp who had never done honest work and
always hated the unions, had fought these two men on their labor records; if
they had gotten the middle class and the intellectuals and the liberals and
all anti-Fascists to work together, they would never have been betrayed.
There was a way of telling. The test was labor. And in the future, you
people of all nations, you can tell your true leaders fom the Fascists, or
the misleaders, by their record on labor. It is the only real test I know
of. And if you use it rightly you will have a democracy instead of
Fascism--and war--and death. [END EXTACT]
Just another reason NOT to live in the USA.
IMHO now that all the jobs are gone, ...
But then the NAZI USA invents "PUBLIC LABOR UNIONS", something only a Nazi Mother could love.
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If this were 1890 I would be salivating all over myself like palov's dog about 'labor' but sadly this is the the post-labor millenium.
I have chosen to live where every man farm's for his food, and nobody has excess cash, other than to get drunk that day.
The problem with the WEST and USA is that FIAT made it too easy to 'create' fake-wealth and enslave others.
Now that the notion of 'work' is without meaning, unless you consider Micky-D's "WORKING", ... well go for it unionize Micky-D, ...
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Labor unions were killed off by RAYGUN back in the 1980's,... only public union exist today, and their only JOB is to keep COPS out of JAIL.
New NSA Director welcomes ZH
'Triangulation works', 'manufacturing consent 'works.
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Sell a new idea to your opposition, ... then let it float over to your base.
Not a new idea, but you have to wonder now that its 'mission accomplished', what will fonestar do with his time & bitcoin?
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http://navylive.dodlive.mil/2012/10/30/warfighting-the-navys-cyberwarriors/
New NSA director today has his own private blogsite, and also loves bitcoin, and geeks.
The fact that the MIL openly spy's and rules the civilian government, should tell even a moron that the COUP occured years ago.
The libertarian ideals are built into the protocol itself. It is a trustless system that requires universal support to modify. At it's core is a monetary system that a) does not allow printing money and b) allows anyone to fully withdraw funds out of banks and into their own self-controlled wallet.
These properties are the death of the banking class as we know it because the bankers require money printing to keep their debt slavery scheme working and they require people to be trapped into keeping all their money in their system.
The New World Order can regulate bitcoin, but they can not change any of these libertarian aspects unless you and I and everyone else agrees to the change.
70% all BTC mining is controlled by one man in UKRAINE.
80% of all BTC exchanges are controlled by 4 men,
Satoshi's orginal paper said, it only takes +51% to corrupt the integrity of BTC, ..
BTC was corrupted long ago.
Proof please! Which pool does this man control? https://blockchain.info/pools
Oh wait trolls troll trolls never prove.
Give us names and #'s or STFU.
google
"Ukraine man controls bitcoin mining"
I'm not going to feed you links, I want you to learn to think for yourself and read a diverse number of articles.
Did Ukrainians Almost Take Over Bitcoin? - Bloomberg www.bloomberg.com/.../did-ukrainians-almost-take-ov...Bloomberg L.P. Jan 14, 2014 - An organization with links to Ukraine has come close to dominating the ... unit hovering around $1,000, the battle to control emission of Bitcoins is on. ... Bitcoin miners are no fools: Allowing one pool to dominate would ... * In this instance they got caught, but ONE-MAN owns many exchanges, so he still controls over 51%, but it doesn't matter, cuz BTC was always controlled by a handful of men, since day one.
I don't want to talk about BTC, it bores the fuck out of me I am SATOSHI
After a lot of research I have concluded that you are clearly full of shit.
Come back when you don't have shit dripping down your chin.
It looks like GHash.io controlled 45% of the processing power until it backed off a couple weeks ago, probably in response to commenters on Bitcoin forums concerns that if it gained control of 51% it would be able to reverse transactions and pay twice with the same Bitcoins. So the Big Farms run by sketchy speculators could be the masters of the Bitcoin universe in the end, which seems a major flaw.
"So far, about 12.2 million Bitcoins have been mined. The more the currency grows, the stronger becomes the big farms' grip on emission. With billions of dollars at stake, the virtual currency no longer works in ways envisaged by its founders. They did not mean for it be a commodity for Chinese speculators, nor as a product to be turned out by industrial-sized specialized operations. Bitcoin is now less a currency than a kind of risky bond for which the issuers bear no responsibility. Investors should be aware that the situation is ripe for abuse."
http://www.bloomberg.com/news/2014-01-14/did-ukrainians-almost-take-over...
Thanks, but this is just one boring article on this boring subject,
There are 1,000's of articles, and I myself for years have pointed out that ...
All BTC MINING and BTC exchanges are controlled 90% by a handful of men,aka less than ten.
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All things in life are this way, just like Goldman Sachs ruling the earth,... in tiime everything always ends up in the hands of a few men.
Read wikipedia 'bitcoin', if you want to learn, but learn for fucking what?
JUST GO FUCKING LIVE, RUN FROM THE USA, and become a farmer, and grow food you can eat, and just live, and dance and get high every night and live, and fuck the USA, BITCOIN, the FED, and all the NSA-CIA bullshit.
Democracy is tyranny of the minority by the majority, and of course the majority rarely foresees its own undoing...
Ideals are nice, but I live in the real world, and the last I checked it doesn't require "everyone" -- only a majority to implement a change, and anyone who doesn't like that is free to go home (or start their own currency).
"The USA is NOT a democracy" - Tocqueville 1860
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At the very least the USA, is nation where the 'majority' is controlled by an elite team of men of power "GOLDMAN SACHS", who hold control over judges and lawyers, who hold power over COPS,...
The USA is no more Democracy, that BITCOIN is money.
Because it is a constitutional republic
Democracy vs. Republic - Do you know the difference?http://www.youtube.com/watch?v=7bqsIjnpZGA
"Democracy is tyranny of the minority by the majority" Since money is ruling things these days we certainly don't have to worry about democracy showing up anytime soon to be terrorized by.
If the US banker class creates a Bitcoin fork that favors them do you think China, Russia, Brazil and most other countries will follow? Not a chance. Worst case situation is I can only spend my Bitcoin out of the US. I've lived in Asia for several years, this does not worry me.
Bitcoin use is prohibited by law in Russia. You can get 7 years in prison. And I'm glad of this wise decision of the Russian Government.
For Russia does not make sense to give up their natural resources in exchange for FRN and even more so in exchange for biktoin.
China and Russia do not want to trade their goods and natural resources in exchange for dollars and Biktoin. They want gold.
Recourses for gold is what the banksters and fiat USD printers are fighting. Sadam, Quaddafi, Assad, Iran.....
The banker class isn't constrained by national boundaries as it seeks to influence and control the national governments, the inverse is much less effective.
Fuck the 'banker' bullshit. That's why they want to KILL THE FED.
The COUP has already happend
Now its your either MIL or your little people.
The IMF-SDR will be under the NSA/CIA, and if your NOT MILitary, then your little people.
Go watch BLADE-RUNNER, and have a nice day.
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'Banker' is code for what? The rich? Those NOT in the FSA? Does it mean TELLER?
The problem is that 99% of ameriKKKan's are poverty whores, and they want to rob the 1%, ... so the 1% LEFT the USA long ago, ... and now all that remains in the USA is parasites and POLICE(MIL).
"Own physical gold because the old system will implode. Those who own paper assets are doomed."
Too bad Celente learned this the hard way.
GOLD: Live in a free country, and do the LOTR, "Keep it secret, Keep it safe", Enough said.
own physical gold in a free country, and I'm not talking about the USA, by definition, it was never a FREE country,
Free to be a slave
Free to die in foriegn wars,
Freedom my ass,
"Freedom in the USA means, nothing left to lose" - janis joplin, 1969
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celete is a pompous arse and has been promoting himself and re-inventing himself since the 1970's, he got rich by self-promotion, and then lost the loot by following his own advice, ... yeh talk celente ...
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Almost everybody like Celente are pimping 'paper assets', cuz the commissions are always the best.
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GOLD: Live in a free country, and do the LOTR, "Keep it secret, Keep it safe", Enough said.
Celente actually did not follow his own advice and bought paper gold. That's when he was Corzined.
Precisely. What pisses me off about Celente, who is mostly right about what he says btw, is that he presents himself with that angry, self-righteous, and indignant attitude... like if you don't follow his sage advice then you deserve to be fleeced. Then we find out he has his money tied-up with "the white shoe boys" and he got burned.
Hilarious.
Untraceable is to Bitcoin as unsinkable was to the Titanic.