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Marc Faber's Warning Shocks cnbc Anchors: 'Don’t Store Your Gold In The United States!' (video)

Last week on CNBC the following classic exchange occured:

Faber: "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."

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

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Thanks. Love Faber and he's

Thanks. Love Faber and he's scaring the hell out of me.

My great-uncle was, by law, a gold-smuggler in 1933

My great-uncle was, by law, a gold-smuggler in 1933. He did not turn over his few gold coins according to the Banking Acts of 1933, and so by law, he was a criminal, prosecutable under statute.

I don't know if the laws of 1933 were ever superceded, but I understand the current law forbids gold ingots of larger than a certain weight, and as anyone who's bought gold from a dealer knows, there's a lot of paper work to accompany any gold transaction.

And I'm sure all the information is NOT for statistical purposes alone.

"Cowards & idiots can come along for the ride but they gotta sit in the back seat!"

Our government can

outlaw the exchange of gold/silver at any time they want too. Therefore, they can and will, brand anyone a "person of interest"...all in the name of "homeland security". If you hold gold and silver, be prepared to become an outlaw at some time. This doesn't make YOU the real outlaw, but it will require you to think creatively about how you spend your real money into service.

alan laney

Yes, you can't trust the government, but...

Yes, I get the point the OP was trying to make...you can't trust the government.

But if I'm saving up gold, in part, in case the poop hits the fan, I'm not going to put it in a foreign country. You'll never get it.

How about creating a few companies like the good ol' fashioned vault banks...where all it does is let you put stuff in it and they guard it. Surely, there's got to be a market for that now...especially with all the anti-bank sentiment out there.

Hmmm, but even that can't be trusted.

Now I know why Southerners used to bury money in mason jars in their yard. LOL...reminds me of Charlie Daniels' "The Legend of Wooley Swamp".

Heck, some used to slice a hole in their wall and pump in coins. In some parts, the next generation would get metal detectors and go through the house.

People considered those types as kooks. I wonder how the *non-kooks* felt losing half their stock in 2008.

Sadly or maybe purposely

the interviewers did not grasp his point, that the risk was from the government, not the banks or custodians.

Might? Might?

Okeh, maybe a slight change of subject, but they ALREADY siezed my SILVER & COPPER (from Liberty Dollar) in November of 2007. And now have declared that any outstanding pieces (of ANY material) are subject to further confiscation.

Might?

The scoundrels are thrashing about in their death throes and anyone could get caught.

What do you mean, "Might?"

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