U.S. Markets open in 7 hrs 49 mins

Dr. Doom: US Government Can Take Away Your Gold

Lawrence Lewitinn
Talking Numbers
Dr. Doom: US Government Can Take Away Your Gold

Marc Faber, Editor and Publisher of the Gloom, Boom & Doom Report, is one of the world’s most famous market contrarians. He’s been pretty good about predicting bubbles and collapses over the past couple of decades. In this, the second of a three-part interview, Faber discusses why he’s buying gold everywhere – except in the United States.

Marc Faber likes gold and is buying more. Not gold ETFs, but real, live gold he can hold in his hands and put under his pillow in Chiangmai, Thailand every night. There’s one place he won’t keep his gold, though: In the good ol’ US of A.

“I bought gold at $1,400, I buy every month some gold, and I have an order to buy more at $1,300 because I want to keep an allocation towards gold – physical gold – and not stored in the United States at all times.”

When asked why he wouldn’t keep any of his gold holding in America if it’s supposed to be one of the safest countries in the world for assets, Dr. Faber answered, “Safe country? I’m not so sure about that…”

For more on why Marc Faber doesn’t think your gold is safe in the US under the current administration, watch the video above.

Part 1: Dr. Doom: Correction Coming for Japanese Stocks, Yen