Now is the Time to Add More Gold!
Now is the time to buy gold according to Marc Faber, a leading French bank, and others!
When is the right time to buy gold?
If you don’t have enough for what’s coming, right now is the best time to buy gold… whenever right now happens to be.
Who has enough gold? We’ve never met anyone who has enough. Certainly not Marc Faber, a Swiss investor based in Thailand.
Faber is the editor of the Gloom, Boom, and Doom report. At a recent precious metals summit in Zurich, Faber said he believes that the long-term trend for the next 20 years or more is for inflation to move up. “I have been advising investors to own gold and other precious metals, silver, platinum, for the last 40 years. I buy continuously every month some gold.”
“Central banks’ function in the long run is to print money. Never forget that. A central bank exists to print money. In view of that I think that gold and other precious metals are still a good investment from a long-term perspective and also from a safety aspect.”
Analysts at Société Générale, the French-based multinational financial services company, share a bullish view. They expect gold to climb to new all-time highs in the new year, based on lower Fed interest rates.
“Unlike oil, gold prices have increased since the start of the Israel/Hamas conflict,” they write in their latest report. “Gold has continued to ignore the rising real yields headwind, as demand has remained robust.”
A good deal of that demand continues to come from dollar-wary foreign central banks. “The heterogeneous coalition of countries in the Global South should continue to de-dollarize and give a further boost to gold,” the analysts note. They expect gold to hold around $2,200 throughout 2024.
Do you have enough gold to weather the storm ahead? It is a gathering storm consisting of the following:
The wild growth of US government spending and debt that we have recounted many times.
See The Money Madmen Keep Printing for a quick refresher.
A wildly inflated stock market.
Thanks to the Fed’s stove-piping of made-up money to Wall Street, between 1991 and 2022 the Nasdaq Composite Index has outpaced American’s real wages by 40 times!
A wildly wobbly wealth gap.
David Stockman reports that over the last 22 years, “annual wealth gains for the top 1% were 4,250X larger than the median real wage gain and 17,000X larger for the top o.1%.” It is in the nest of such disparities that revolutions are hatched. And gold always shows up on top in revolutions.
If you don’t have enough for what’s coming, right now is the best time to buy gold… Make an appointment with a Republic Monetary Exchange precious metals consultant today.