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Marc Faber - Federal Reserve Rate Hike At ‘Precisely The Wrong Time’

Interest-Rates / US Interest Rates Dec 17, 2015 - 02:23 PM GMT

By: GoldCore

Interest-Rates

Marc Faber, the editor of the Gloom, Boom & Doom Report, warned yesterday that the Federal Reserve has raised rates at “precisely the wrong time.”

Speaking to CNBC just before the interest rate decision, Faber warned that it’s the wrong time because “the global economy has decelerated very badly, and many countries are already in recession, or going into recession.”


The rate hike separated the Fed from other major central banks – The ECB, Bank of England, PBOC, the Bank of Tokyo and elsewhere that are all battling deflation and desperately trying to stimulate some form of sustainable economic growth.

Yesterday’s hike still leaves U.S. monetary policy extremely loose, and Fed officials have signaled they will act cautiously from to nurture a very tenuous recovery indeed.

Faber said the outlook for American equities looks weak:
“I don’t think U.S. stocks are attractive by any measurement. They are expensive and earnings are going down, and if anything, eventually interest rates will be higher.”

Marc Faber is a strong advocate of owning physical gold and silver which he describes as being a way to become “your own central bank.” He believes an allocation and diversification into physical bullion will serve as vital financial insurance and that storing gold in Singapore is prudent as Singapore is the safest place to own bullion in the world today.

Video can be watched on CNBC here
Marc Faber Webinar on Storing Gold in Singapore
Download Essential Guide To Storing Gold In Singapore

DAILY PRICES
Today’s LBMA Gold Prices: USD 1065.85, EUR 982.71 and GBP 713.06 per ounce.
Yesterday’s LBMA Gold Prices: USD 1065.75, EUR 975.65 and GBP 710.33  per ounce.

Gold Bars At 2% Premium and Free Storage For Six Months On Orders Before December 31st

  • 2016 looks set to be stormy – arguably it has never been a better time to buy gold
  • Gold bars (1 oz, LBMA) at just 2% on orders placed prior to December 31st
  • One of lowest premiums in market today for one ounce bullion coins and bars
  • Currently sell gold bars (1 oz) at 3.75% so this is nearly 50% reduction in premium
  • Free storage for six months – allocated and segregated storage of your bars in safest vaults in world
    * This is a phone offer only
    ** A minimum order of 5 gold bars applies
    *** Gold coins and bars are tax free – no stamp duty, VAT or sales tax

    Call Us Today To Secure Your Allocation
  • IRL +353 (0)1 632  5010
  • UK +44 (0)203 086 9200
  • US +1 (302) 635 1160

This update can be found on the GoldCore blog here.

Mark O'Byrne

IRL
63
FITZWILLIAM SQUARE
DUBLIN 2

E info@goldcore.com

UK
NO. 1 CORNHILL
LONDON 2
EC3V 3ND

IRL +353 (0)1 632 5010
UK +44 (0)203 086 9200
US +1 (302)635 1160

W http://www.goldcore.com/uk/

WINNERS MoneyMate and Investor Magazine Financial Analysts 2006

Disclaimer: The information in this document has been obtained from sources, which we believe to be reliable. We cannot guarantee its accuracy or completeness. It does not constitute a solicitation for the purchase or sale of any investment. Any person acting on the information contained in this document does so at their own risk. Recommendations in this document may not be suitable for all investors. Individual circumstances should be considered before a decision to invest is taken. Investors should note the following: Past experience is not necessarily a guide to future performance. The value of investments may fall or rise against investors' interests. Income levels from investments may fluctuate. Changes in exchange rates may have an adverse effect on the value of, or income from, investments denominated in foreign currencies. GoldCore Limited, trading as GoldCore is a Multi-Agency Intermediary regulated by the Irish Financial Regulator.

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