Marc Faber: Where To Hide Your Gold (GLD, SLV, IAU, SGOL, PHYS)

Fearful of desperate governments taking desperate actions during the coming currency crisis, Gloom Boom Doom editor and publisher Marc Faber advises investors to keep gold holdings outside the reach of potential confiscators.

Speaking with Chris Martenson last week, Faber believes that central bankers will print money at any sign of a credit contraction or drop in economic activity. Money printing, Faber said, is a strong reason behind rising oil prices, slowing economic activity especially in those countries that import it.

The virtuous circle of money printing, higher oil prices, slower economic activity and more printing won’t stop, according to him. Moreover, Faber speculates that, at some point, the money printing must stop and the financial system will become a catastrophe. (more)