Marc Faber's 3 Currency Picks for 2020: Gold, Silver, Platinum

Howe Street interviewed Marc Faber this week. It's well worth a listen.

Please tune into This Week in Money for an excellent interview of Marc Faber by Howe Street's Jim Goddard.

Goddard asked Faber what currencies he liked. Without hesitation, Faber replied, gold, silver, and platinum.

The interview with Faber starts a bit after 8 minute mark and lasts for about 30 minutes.

Faber also discusses, valuations, the US and Canadian dollar, oil, China, and the recession.

As always, Faber provides excellent food for thought.

If you have not yet read his book, Tomorrow's Gold, please pick up a copy. It's not about gold, it's about opportunities.

Recommended Reading List

  1. Economics for Real People by Gene Callahan
  2. Economics in One Lesson by Henry Hazlitt
  3. What Has Government Done With Our Money? by Murray N. Rothbard
  4. Case Against the Fed: Murray N. Rothbard
  5. Tomorrow’s Gold Marc Faber
  6. Capitalism For Kids: Growing Up To Be Your Own Boss by Carl Hess
  7. Debunking Modern Monetary Theory (MMT) & Understanding it First by Erik Zimerman
  8. An Introduction to Austrian Economics by Thomas C. Taylor

Items two, three, four, and eight are free downloads at mises.org. Item seven is a free website article.

Links 1, 5, and 6 go to Amazon. I get a tiny cut of the action out of Amazon’s pocket. If you prefer Amazon gets the full price, then remove my reference.

Tomorrow’s Gold is one of the best financial books ever.

Mike "Mish" Shedlock

Comments (39)
No. 1-12
Sechel
Sechel

when has faber not said buy gold? his thinking is also something to celebrate with his now infamous comments that the united states was only successful due to white people. time to move on to people that think before they speak

TheLege
TheLege

Gold, silver, platinum is a no brainer to those who genuinely understand what’s currently unfolding. The vast majority don’t. Platinum has joined the list on account of its extreme underperformance of gold in the past few years, whereas palladium has enjoyed a stellar run over a similar period so is less attractive - but only relatively. In any event, anyone with an investment horizon longer than 3 yrs is likely to do extraordinarily well from one or a combination of the above.

Long AAPL! 😉

leicestersq
leicestersq

If I had tried to bet that Marc Faber would say Gold, Silver and Platinum were the best investments, no one who knew Marc Faber would have taken my money. This is easily the biggest nothing new here story Mish has yet written.

That isnt to say that Marc Faber isnt correct. I know little about the future. In fact the only thing I do know is that if Mr Marc Faber is asked the same question next year, he will come up with the same answer.

RobinBanks
RobinBanks

I see Vlad brought another 22 tonnes again last month to hit 2241 tonnes. Always interesting to see what the serious players are up to rather than reheated soundbites from the likes of Faber and Schiff.

themonosynaptic
themonosynaptic

I think Sechel [see below] has a point here. It is fair that Faber re-iterates his "buy gold" message - his tagline on his blog includes the phrase "gold vigilante" for goodness sake.

Gold and other precious metals are a valuable component of any well diversified portfolio, but most people don't buy into the hypothesis that our currency will be massively debased due to loss of confidence in central banks, and thus people should be heavily overweight in gold (who knows who is right, predicting things is very difficult, especially if they are in the future [thanks Yogi]).

As for his comments from 2017 on the right color of people who colonized America, these were unnecessary, and frankly not very clever even if you do agree with them. Those comments, resulting in Faber being fired.

Regarding the "gold vigilante" aspect of his advocacy, this simply does not make sense to me. I understand the arguments and have read a few of the list of books on Mish's list in the posting, however if you truly believe that an imminent crash is coming, the last thing you should do is running around as "Dr Doom" and advocating buying gold. In fact, the opposite is true, he should be playing down the attractiveness of gold so he can buy at a lower price. This makes a lot of people question his motives - is he just looking for short term volatility in gold so he can skip in and out of the market, or does he really believe the long term, catastrophic value he warns us about?

truthseeker
truthseeker

I can’t remember how many years ago, maybe 20 or so, that Barron’s had it’s Round Table of market experts make their picks of stocks, commodities or whatever for the new year. They also reviewed how well each one had done from their recommendations for the past year. Marc Faber had a long list, maybe as many as 30 of stocks, commodities and a big bunch of weird things he recommended both long and short. He was absolutely perfect on every single pick! Really!

Maximus_Minimus
Maximus_Minimus

You can't blame Marc Faber for his predictions even if he is wrong this year. The fault lies somewhere else, and you know (I hope) where. Most of us here sense, we are on the wrong path, but pray you die before the SHTF.

Ted R
Ted R

You buy gold and silver if you think your currency is going to collapse and hyper inflation is on the way. If you think deflation is coming, and I do, you buy gold and sliver as a hedge against falling asset prices. You protect your money.

Realist
Realist

Putting all your wealth into a single asset class, like precious metals, is the ultimate in stupidity.

Scooot
Scooot

Most of us are 100% dependent on fiat money. IOU’s which currently seem to be printed with no thought of repayment, or the means to do so.

FromBrussels
FromBrussels

Tomorrow's Gold is way too expensive at Amazon ....Just bought at Biblio.co.UK a 'very good' 2nd hand for 9,5 Euro, shipping to Belgium included....

yooj
yooj

"As always, Faber provides excellent food for thought." Well, the food he provided made me vomit. Gagging just thinking about it.