During a recent round-table discussion (accessible below), Marc Faber explained his asset allocation strategy and his incredulity at what the Fed is doing.
“I have around 25% in gold… and it’s my insurance policy. It is important that one day when the so-called shit hits the fan – and I think the Fed is well on its way to creating that situation – you have access to your gold, that it is not taken away.”
Faber goes on to discuss his lack of surprise at the Fed’s un-Taper, the wealth in-equality impacts, and Asia’s growing lack of faith in the USD.
Via Sprott Global Resources Roundtable,
On The Impact Of Fed Policy,
“When the Fed began Quantitative Easing 1 (QE1) in 2008, I said it would continue until QE99. So I’m not so surprised by the “no tapering decision.” But this money printing has numerous unintended consequences and actually does not help the economy much. Asset purchases benefit maybe 1% of the population, the super-rich.
