저자: MarcFaber · 외국인
요약 보기
Faber는 지폐는 장기적으로 구매력을 잃어 귀금속이 화폐 보험 역할을 한다고 주장한다. 금 강세장은 끝나지 않았으며 이미 5,000달러를 넘었지만 4,000~3,000달러로 조정 가능성이 있다고 본다. 장기적으로 통화 평가절하와 부채 확대로 20,000~30,000달러도 가능하다고 언급한다. 연준의 긴축 실패와 월가의 자산가격 상승 선호를 비판하며, 본인은 귀금속을 많이 보유하고 매달 추가 매수한다고 밝힌다.
다듬은 글
So glad to have you back Goldrush Reporter. Paper currency has always been worth almost nothing when viewed through the lens of history. Without fail, there may come a day when I declare my complete investment in precious metals. While I haven't tried it myself, I do know several people who are serious gold bugs.
80% of their wealth is held in precious metals, specifically gold. The gold bull market has not ended in my opinion. It seems to me that it will go on. We surpassed $5,000 per ounce at this point. At this point, are we looking at a $3,000 or $4,000 drop? Yes. Prices can also go as high as $20,000 or $30,000.
The long-term macro investor Marc Faber frequently reminds investors that paper currencies have lost purchasing power over time, while real assets like gold have kept value. Faber is well known for his outlook on monetary cycles. This suggests that, despite the inevitable ups and downs, the present gold bull market may have a long way to go.
Even though prices have already surpassed $5,000, a normal cycle still includes the possibility of sharp corrections. For example, gold could retrace to the $4,000 or $3,000 area before continuing its longer trend. However, looking at the big picture, much higher valuations could be driven by a confluence of factors such as debasement of currencies, rising global debt, and monetary expansion.
Within macro circles, long-term projections in the $20,000 to $30,000 range are becoming more and more discussed in this environment. Please subscribe to our updates, like this analysis if you found it useful, and share it with other investors who keep tabs on gold and silver. To purchase an item, you can use paper currency for that purpose.
When I compare the prices I paid as a child to those I pay now, as well as the prices that were prevalent in the 1950s and 1960s, I can't help but think that paper money isn't a good choice for storing value. Paper money, of course, is no longer worth anything. However, if I had invested the whole amount in gold or Treasury bills and then rolled them over, the purchasing power would have been better preserved thanks to the interest that accrued.
This makes the computations more difficult. However, looking at historical trends reveals that paper money has consistently lost value without fail. Due to the fact that stringent monetary policy and default are ideal responses to problems in a monetary-based social system. However, politicians and rulers will not choose these measures because of how painful they are on society.
The primary goal of any democratic leader, whether a king, a lord, an emperor, or any other title, is to ensure that their party maintains its position of power. With the short-term issues taken care of, they can afford to print more money and put off dealing with the long-term problem. But once you start printing money, like Bernanke did in December 2008, it is very difficult to stop.
This is something I want to note and stress. By printing more, you can avoid this considerable discomfort. Now, according to classical economic theory, you have to print more and more money to keep the system running. The interest paid on the national debt, for example, has skyrocketed. The cost is going up and could end up eating up the whole budget in no time.
If you wanted to print money at that moment, what else would you want? If you don't own precious metals, you have to put your faith in central banks, says the person who has spent the last four decades advocating for their ownership. I personally own some and buy more every month. Additionally, take a look at the personalities represented by these central banks.
How reliable are they? A categorical no. However, I also hold dollars as a result of my financial business and the buying and selling of securities. On occasion, I also have liquidity due to my opinions, and on occasion, I have liquidity due to the sale of the position that we own, among other things.
Regardless, most things are still priced in US dollars these days. The value of some of my holdings is in euros, while the value of others is in Swiss francs, and the valuations will fluctuate a lot depending on the assets. And it fluctuates frequently in unexpected ways. As I said, I have a very large exposure into precious metals, but the time may come where I would say I put all in precious metals.
While I haven't tried it myself, I do know several people who are serious gold bugs. 80% of their wealth is held in precious metals, specifically gold. Marc Faber argues that while paper currencies remain useful as a medium of exchange, they have consistently failed as a long-term store of value. From his perspective, the purchasing power of fiat money steadily erodes as governments respond to economic stress by expanding the money supply rather than allowing painful defaults or strict monetary discipline.
Once large-scale money creation begins, he notes, political incentives make it extremely difficult to reverse, often requiring even greater levels of liquidity to sustain the system. For this reason, he has spent decades advocating a meaningful allocation to precious metals as a form of monetary insurance, while still holding various currencies for liquidity and business activity.
He views gold and silver as essential protection against the long-term decline of paper money. Let's get into the interview. The gold bull market has not ended in my opinion. It seems to me that it will go on. Now, can it, you know, we went over $5,000 per ounce. Can it drop to $4,000 or $3,000? Yes.
Prices can also go as high as $20,000 or $30,000. I think Kevin Walsh is not a money printer. I think he's basically a reasonable man, and I've listened to some of his speeches. He has a deep knowledge of economics, unlike Bernanke and Yellen. She had no clue about. She's clueless about anything. A mo- but and Powell is better.
I mean, I've been critical of the Central Bank for the last 40 years, whereby I always said Greenspan is a highly intelligent man intellectually. He has his shortcomings, but as an intellect, he's brilliant. He was a horrible forecaster and a relatively poor economist as an economist in his profession.
He had like no clients left when he closed his firm and became Fed chairman. But he was suitable as Fed chairman because he suited. You have to understand Wall Street is very powerful. The money in America is very powerful. Do you think that Wall Street likes to have declining asset prices? No. Their fees come from the size of the assets, not the quality of the assets, the size.
And they will always wish that the Fed prints money. They will You will never find the Wall Street economist that really tells the public that the Fed is making a huge mistake, that they should tighten monetary policy and see asset prices drop 30% because then they would become affordable. Why is the housing market not doing all that well in terms of sales volume?
Because houses are too expensive. Nobody can afford them except the 1%. Yeah. Yeah. That is the affordability issue of Trump. Of course, he talks the whole day about things he has no clue about. He said he would make everything affordable. No, he's making it more expensive. In my view, he will choose the lesser of evils.
You also have to understand Walsh comes from a moneyed family, not himself, but his father-in-law and his wife will be the heir of Estee Lauder, correct? I believe so. Yeah. And they are billionaires and their friends are billionaires. And believe me, the stock market is now down. Do you think the wealthy donors of Trump are all calling up and saying, "Oh, you're doing great in Iran?" No.
Most people have no interest at all to go to war in Iran. The US has nothing to fear of Iran. Now, did they go in to protect Israel? Yeah, maybe. Or maybe Israel blackmailed Trump and so forth. I don't know. But for sure, the US had nothing to fear from Israel from Iran, nothing. And most rich people in America, that I can tell you, when they see their portfolios down 10% in the months of March, they're not going to be very happy.
Marc Faber maintains that the broader gold bull market remains intact despite periods of volatility. While prices have already surpassed the $5,000 level, he believes corrections toward $4,000 or even $3,000 are possible within a larger upward trend. Over the longer horizon, however, the combination of persistent monetary expansion, rising government debt, and political incentives to support asset markets could ultimately drive gold to much higher valuations, with projections occasionally reaching the $20,000 to $30,000 range.
He also notes that financial markets operate within a system where powerful institutional interests favor rising asset prices, as wealth and financial sector revenues are closely tied to expanding valuations. In that environment, policies that support liquidity and avoid severe market declines often take priority, reinforcing the long-term appeal of precious metals as a hedge against ongoing currency debasement.
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