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
BREAKING GOLD NEWS and COMMENTARY TODAY – CLICK HERE
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
The post Federal Reserve Rate Hike At ‘Precisely The Wrong Time’ – Faber appeared first on GoldCore Gold Bullion Dealer.