저자: MarcFaber · 외국인
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Marc Faber와 Andy Schectman는 종이화폐 구매력 하락과 중국 Embridge 결제망 확대로 금·은·백금 등 귀금속이 상대적으로 강할 것이라고 주장한다. 주식은 소수 대형주만 오르고 대부분 종목은 정체되어 있어 귀금속이 자본보존 수단으로 유리하다고 본다. 은 선물 백워데이션을 실물 수요 증거로 제시하며, UBS 등 은행의 금 목표가 상향은 실제 믿음을 숨긴 것이라 평가한다. 기관 전문가들의 금 비중 확대 권고도 근거로 든다.
다듬은 글
My forecast is that uh platinum will sell at the premium to gold. Now the premium could be reached by gold collapsing by say 80% and platinum staying s at this level is not a predict. Gold could appreciate against the Dow Jones by the Dow or the S&P or the Nasdaq anyway going down 80% and gold down 20%.
China for the digital E1 over Embridge which settles in 7 seconds 98% reduction in fees no um US or Western intermediary banks no swift and then they can settle in balances in gold first without converting into dollars says well you know we're going to raise our midyear price target to 4500 previously 4200 well gez thanks uh I I think that um these banks that continue to raise their targets if you go back and look what they were a year or two ago.
It's it's almost kind of laughable. Two seasoned market observers outline a sharp divergence between official forecasts and the more profound structural shifts underway in precious metals. Their discussion highlights how platinum's long-term fundamentals may allow it to trade at a premium to gold, not necessarily through a surge in platinum, but through broad market repricing as traditional asset classes deflate.
The point is reinforced by the idea that gold's relative strength can emerge even during equity market collapses where major indices may fall dramatically while gold corrects far less. They also underline the accelerating move away from dollar ccentric settlement systems, noting China's rapid expansion of digital payment rails that clear instantly, bypass western intermediaries, and allow final settlement in gold.
Meanwhile, major banks continue inching their targets higher, offering timid upgrades that lag the reality of structural demand and the monetary changes already underway. If you found this analysis helpful, make sure to hit that like button, share it with fellow investors who follow gold and silver and subscribe so you don't miss the next big update.
I believe to hold money, paper money, is going to be a disaster. I also think that stocks, yes, they go up, but they don't go up all of them. The majority of stocks don't move anymore. It's just a handful of stocks that have driven the index higher. And you have stocks that are relatively cheap. Uh but in general if the question is I'm sent to jail for 10 years and you tell me Mark here is a million dollars uh and you have a choice to put it in whatever it is but you have to put all of it in something.
I think I would choose precious metals. Gold could appreciate against the Dow Jones by the Dow or the S&P or the NASDAQ anyway going down 80% and gold down 20%. But in my view, and this is something that people should consider more than anything else, how do you lose the least money? And in my view, you're going to lose the least money in precious metals, physical, and hide it from the government, from the Kafka characters who will take everything from you.
The young people, they don't buy gold. If you look at the ETFs, there has been selling of ETFs in a bull market. This is most unusual. I've never seen a bull market where people are this bearish. And by the way, this is a room full of gold and precious metals bulled. Let's make a survey and be honest.
Who in this room has we take all assets, real estate and stocks and bonds and whatever you have and pleasure boats, all assets, and then we compare it to gold. Who has more than 50% of his assets in gold? This very good. Very intelligent audience. And who has more than 20%. Yes. Good. And who has only 5%.
This is very bad. Please leave the room. No, I mean you understand this is now an audience that is not the stock audience. You go to a conference of stock investors. uh most portfolio managers in the US they have less than 1% in gold share. This is the reality and I think the bull market will end when people will have much more exposure to gold and and silver and platinum especially platinum.
The US dollar is also is paper money. It doesn't matter whether it's a dollar or a euro or a Swiss Franks over time paper money loses its purchasing power. You say we are in a bull market for gold. I say maybe not. Maybe we are in a colossal bare market for the purchasing power of paper monies around the world, not just the dollar.
Others are not much better, but there are countries that that don't have inflation at the moment because of poor economics and there and additional supplies. I mean, China had had a sort of deflationary impact on the world by supplying goods. There was yesterday. Yes, there was someone he's in. He's the largest distributor of cars in Europe.
The Chinese, they can produce cars at, you know, a fraction of the Europeans. The outlook presented here is shaped by a simple premise. Holding paper money through the next decade could be the most damaging financial choice an investor makes. Equity markets continue to rise, yet the gains concentrate in a narrow cluster of meggaap names while most stocks stagnate.
Against this backdrop, the argument for precious metals becomes one of capital preservation rather than speculation. Physical gold, silver, and platinum offer insulation from the long-term erosion of currency purchasing power and from the policy risks that accompany growing fiscal instability. Even in a scenario where major equity indices collapse sharply, precious metals may decline far less, preserving real wealth when other assets fail.
The broader issue is not a metals bull market. It is a global bare market in paper money. Let's get into the interview. We have the COMX options expiration in both gold and silver. And then tomorrow is the big day as far as I'm concerned. It's the large traders that are or are not standing for delivery in their December contract.
And if they're not, they have to roll over their contracts or sell them. Um, which uh keeps them as futures contracts, of course. Uh, and if not, they're going to stand for delivery. Um and and I think this is one of the big deals when you see silver in backwardation still meaning that the cost of silver today is worth more than it is out into the future.
It's supposed to be opposite of that tells you that there's stress and strain within the market itself and that there's a greater demand for physical metal than there are is for the paper contracts that stand behind them. And this is what we've talked about um for quite some time now. it started to really um come to fruition.
Uh and it's it's this is a big one here. This December contract is is certainly a big one. Uh a couple other things that caught my attention over the weekend, Don again. One of which we talked about, I don't know if I talked about on your show, but talked a little bit about on others, uh, was that the Embridge, which is kind of up from, uh, uh, the the shadows.
You know, over the last several years, um, the information that I would use or find to talk about uh, the bricks was easier to find than it is now. It's kind of in the fog right now, if you will. And I think that's by design. They're keeping it quiet so as to not attract the attention of this administration and and draw the, you know, the crosside look of of President Trump.
And one of the things, however, that that did come to light was that UAE, United Arab Emirates, and and China conducted another successful test of Embridge, a a real time test. For those people that don't remember, Embridge is the crossber payment system that was designed by China, Hong Kong, Thailand, UAE, and of course the fifth full participant who came in a little bit later, Saudi Arabia.
They're the big five originally designed with the assistance of the BIS innovation hub. We talk how that went sideways when the BIS pulled out at the 12th hour. But one of the things that I find interesting and I don't think should be overlooked is is this first trade was between China and UAE. Well, I don't think it should be overlooked that China, Hong Kong, and the UAE all run advanced precious metals markets where gold is traded in local currencies.
And this enables Embridge members to convert trade surpluses, as we've talked about, directly into gold. And this bypasses the dollar entire entirely. This is the ultimate plan with the Shanghai Metals Exchange expansion of their vaulting system, the one that was just completed in Hong Kong. What's the significance of that?
In order to take gold out of China, it has to come out of Hong Kong. So, the first one was built in Hong Kong. So in an example like this, the UAE could sell oil as an example to China for the digital E1 over Embridge which settles in 7 seconds. 98% reduction in fees, no um US or Western intermediary banks, no Swift and then they can settle in balances in gold first without converting into dollars and take possession in Hong Kong.
And of course, the second vault is under uh construction or will be very shortly in Saudi Arabia. This is where it is heading and I think that's a important piece. Um couple other things I noticed. Uh UBS and again these banks are so full of BS at UBS. They're all full of it because they continue to raise their their price targets and their price targets are are as useful as a mud wall because they've been wrong continuously yet.
Okay, fine. And they acquies and raise it. So now UBS says, well, you know, we're going to raise our midyear price target to 4500. Previously 4,200. Well, gez, thanks. Uh, I I think that um these banks that continue to raise their targets, if you go back and look what they were a year or two ago, it's it's almost kind of laughable.
A lot of people will talk about it, I don't even think it really bears um much consideration at all. They they really don't want people to know what their real belief is. And that's why you have, you know, it's funny because I I have uh a I have an account with Morgan Stanley and the guy that I work with um he's a very good friend of mine and and he manages, you know, a lot of money with Morgan Stanley.
He's one of the biggest in Florida and he lives in my neighborhood and he wouldn't know a gold coin if it fell on his hood. yet his chief investment officer has advocated for 20% holdings in gold. Sell half your bonds. And so, you know, it's it's to me these banks um and the people who work underneath them really have no clue.
But when you're getting Michael Hartnet, when you're getting again another comment from um uh Jeffrey Gunlock, the bomb king, saying that 25% gold is not overweight. And then of course Michael Hartnett as we've talked about. These are he's a se the chief analyst of Bank of America. They're talking to people above not not the successful money managers who are managing $3 billion and are at the top of their game on retail.
They're talking to the people who are bringing in all the metal into the United States. They're talking to the the massive traders that are doing so and they're saying gold and silver are being in essence by their actions reintegrated into the system. Um, to me that that caught my attention. So don't pay attention to what they're saying.
Pay attention to what they're doing unless you're listening to the very very top analysts who are speaking to the institutional traders. The latest developments highlight a structural shift beneath the surface of the precious metals market. With comx contracts approaching expiration, backwardation in silver signals tightness that cannot be ignored.
Near-term metal is commanding a premium because genuine buyers want delivery, not promises. At the same time, the expansion of the Nbridge settlement network shows how quickly global trade is moving away from the dollar. A system that allows energy exporters to convert digital UN directly into allocated gold represents a silent but powerful challenge to Western financial dominance.
Even the major banks, despite their public hesitation, keep raising their price targets while institutional strategists quietly recommend significant gold exposure. The actions, not the talking points, reveal the proper direction of capital. If this gave you value, smash that like button, share it with those paying attention, and subscribe so you don't miss what's coming next. Stay alert, stay prepared, and keep stacking tangible assets.
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