Quote Marc Faber: "There is no where to hide, not even gold will save you." Is Mr. Faber calling for a gold and silver crash? The world is filling up with bubbles, and there's nowhere to hide, not even in gold, said high-profile market bear Marc Faber, editor and publisher of The Gloom, Boom and Doom Report, on Bloomberg "Surveillance" on Wednesday. The latest bubble is U.S. stocks, which have been testing record highs lately. "I was relatively positive about U.S. stocks since March 2009," Faber said. "I haven't any short positions. I haven't been shorting any stocks since 2009. But the U.S. marches up , consumer confidence marches down, and emerging markets are performing badly relative to the U.S. The dollar is strong indicating a tightening of international liquidity. And so I don't think that the U.S. market will go up a lot from here I rather think that there's now considerable downside risk." But what about gold? Why isn't that holding up as a safe haven? Faber was asked. He argued that the money central banks are printing isn't flowing evenly into the economies they are trying to help. Instead, it's just causing more bubbles like the tech bubble in 2000, housing prices up to 2007, commodities in 2008, and most recently select emerging market stocks indexes and the U.S. "My concern is that we will have a systemic crisis where it's going to be very difficult to hide, even in gold it will be difficult to hide," Faber said.
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Silver to the sky!
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