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Marc Faber Warns Get Your Gold Out Of The US NOW!

Commodities / Gold and Silver 2014 Apr 08, 2014 - 06:35 PM GMT

By: Jeff_Berwick

Commodities

This is an incredibly crucial time.  What I have called the most dangerous time in human history for capital.

You could end up doing almost everything right in the end and still losing everything.

'How?'  You ask.


If you realize that what is forthcoming will be a complete political, monetary and financial reset... as the evidence seems to indicate... and move your wealth completely into precious metals as would normally work... you could still lose everything.  The key word in the last sentence was "political".  If you, for example, are an American with all of your assets inside the US and you make the highly rational and logical decision to move into history's safe havens, gold and silver, you could still end up with nothing.

This is not anything new.  We are not talking about anything that hasn't happened in recent human history.  Those in the "land of the free" were forced to turn in their gold to the US government in 1933 and were forcibly not permitted to own gold until more than forty years later.

And so, if you were to foresee what was coming, and is coming, and realize you need to be in hard assets that Janet Yellen cannot inflate away into nothingness, and you bought gold... but inside the US... you may still lose it all.

This time around they likely won't confiscate it.  They've improved their methods since.  This time around they'll likely impose an egregious tax of 80%+ on purchases or sales of gold.  In that case, you still lose.

There is one way to salvage your assets, however, and I do realize to most Americans it seems crazy.  Send it outside of the country where the US government's tentacles have far less power.  In fact, as you have probably seen, much of the world is turning against the US government.  How else can you explain the unfathomable, that a person like Edward Snowden would just reveal the world's largest espionage program in the "land of the free" and have to flee to what was, in the recent past, Communist China and Soviet Russia, as a political refugee.

The answer?  Things change.  Most people don't realize until it is too late.  But if you hold all of your assets, especially precious metals, which you would think are the safest asset to hold in a time of crisis, in just one political jurisdiction.... one that has become one of the most oppressive geographic regions on Earth... you stand to lose everything.

GLOOM, BOOM, DOOM - FABER

Marc Faber has been a voice of reason amongst the noise for decades.

He recently stated in an interview that it is more important to own gold internationally - that is, outside the US - than to own gold. This is something Faber, regular guest on the mainstream media, has said in the past. Faber notes,

“I prefer if investors hold physical gold in a safe deposit box, ideally outside the US, in various locations… Switzerland, Singapore, Hong Kong, Australia, Canada… I think it’s important in today’s very uncertain world to diversify, not only the various asset classes… but also the custody of your assets should be in different jurisdictions.”

In 2011 Marc baffled mainstream media hosts with this assertion.

CNBC: “Uh, so do you thus not trust US banks or US custodians? Do you think they might fail or abscond with the gold?”

The hosts share a collective snicker.

Faber: “I don’t trust anyone.”

Awkward silence.

CNBC: “Hmmm. Interesting.”

The hosts tried to change the conversation to equities after that, but Faber goes back to his earlier point. 

Key to one of our main strategies at TDV of multi-generational savings is internationalization of one's gold holdings. People in the US believe the US financial industry is the center of the known universe, and this has indeed been true for life in the 'global economy'...but only since 1945. 1945-today is a blink-of-the-eye on the historical timeline. 

That old, fleeting system in which the US was the center of the financial world is no more, and it will take some years for the true effects to set in. In his more recent interview, Faber says:

“We’ve now been five years into the bull market and the US economy bottomed out in June 2009. We already had a crack-up boom—not in the economy of the typical household, but in the economy of the super-well-to-do people, whose asset prices rose dramatically and as a result created a huge wealth inequality.”

Why did those assets rise? The main reason the super-rich are getting richer is 1) inflation (they own assets that rise with or above inflation and 2) the rich are usually connected to government and bribe ("lobby") them to do things that profits them.

Faber continues, “My view would be that we have already printed so much money, and to accelerate it will be bringing about numerous other problems, so my time frame is that the [bubble], maximum, will burst in three years’ time.”

I agree with Faber. I think in the next 1-3 years we will see the bubble burst and the US economy take yet another turn for the worse.  Much worse than in 2008.

Faber continues, “Once the collapse happens, the power of central banks will be curtailed greatly because people will realize who brought along first the Nasdaq bubble in 1999: The Federal Reserve. Who brought about the housing bubble between 2001 and 2007? The Federal Reserve. And who is bringing now along another great credit bubble and asset bubble? The Federal Reserve.”

Faber thinks everything is overpriced, but if he had to "compare different asset prices, say real estate, stocks, bonds, commodities, gold, art, and so forth—and old cars—then I think that gold and silver [are] relatively inexpensive because they have had big corrections already, and you should not forget that the global bond market now is over $100 trillion.” Global debt is also more than $100 trillion.

That amount of debt is nearly 50% higher than it was just six years ago.  This is the death throes of the systems that has dominated since early in the 20th century.

THE SOLUTION - GET YOUR GOLD OUT OF DODGE

You will not hear the solution from your government registered financial advisor and certainly not from CNBC or the mainstream media.

Independent sources of information have picked up the slack in this void.

The Dollar Vigilante (TDV) has compiled a multi-year report, penned by Vin Maru in consultation with the entire TDV team, entitled Getting Your Gold Out Of Dodge, which we've just recently updated. Sources like ViaMat, Goldmoney.com, Bullionvault.com and the Hard Assets Alliance Gold Ira can help some, but not all. Americans will find it the hardest to internationalize their gold. Many of these companies don't even serve Americans anymore. So, where can you turn if your government is making it impossible to keep your own wealth?

In this latest version, we updated many of the existing vendors with new information and options for diversification. We also added several new dealers which offer international storage as well as several private vaulting facilities.

  • Global Gold added vaulting in Hong Kong and Singapore

  • Bullion Vault added vaulting with Brinks in Singapore, Toronto and Zurich

  • Malca-Amit added a facility in Shanghai

  • Hard Asset Alliance added vaulting in Singapore & Melbourne and 2 new purchase options CombiBar and MetalStream

  • Miles Franklin added vaulting in US

  • GoldSwitzerland added vaulting in Singapore and Hong Kong 

  • Best Safety Box in Panama now offer bullion purchase

  • Euro Pacific Bank updated information 

  • Swiss America updated information

New Additions:

  • Testing precious metals for fake products

  • Gold Silver Vault with private vaulting in Idaho

  • Cube Global Storage Ltd. with private storage in Victoria, B.C. Canada

  • Diamond State Depository with vaulting in Delaware, USA

  • International Depository Services Of Canada with vaulting in Toronto, Canada 

  • Swissmetal Inc. with vaulting in Panama and Switzerland, all providing bullion and rare strategic metals sales

  • Singapore Precious Metals Exchange with vaulting in Singapore and bullions transaction

  • BullionStar with vaulting in Singapore and bullions transaction

And that is on top of countless pieces of important information we had documented prior, including all the ways to store gold internatiaonally, such as allocated gold, unallocated gold, segregated gold and private vaults and safety deposit boxes all ranked from safe to risky, with specific and useful options.

But there is much more to it than this.

CONCLUSION

It isn't easy.  Most people will soon realize that.  But for those who take the effort to discover these solutions, that are laid out in Getting Your Gold Out Of Dodge, you may end up comfortably, safely and profitably ahead of the crowd when they do figure it out.

One thing many Americans don't know, for example, is that the most trusted provider of international gold shipments doesn't accept US citizens as clients anymore.

What we've detailed here are just a few of the simple ways to begin to internationalize your precious metals but there are dozens of other ways to do so. TDV has just updated it’s “Getting Your Gold Out Of Dodge” (GYGOOD) report which is a 127-page report that has been compiled over the last two years with in depth info on everything you need to know to safely internationalize your precious metals. GYGOOD is free to TDV subscribers.” 

Anarcho-Capitalist.  Libertarian.  Freedom fighter against mankind’s two biggest enemies, the State and the Central Banks.  Jeff Berwick is the founder of The Dollar Vigilante, CEO of TDV Media & Services and host of the popular video podcast, Anarchast.  Jeff is a prominent speaker at many of the world’s freedom, investment and gold conferences as well as regularly in the media.

© 2014 Copyright Jeff Berwick - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Jeff Berwick Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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