Marc Faber during an interview w/ Jim Puplava last week:
"As long as we have academics like Larry Summers, Ben Bernanke and Tim Geithner running the economic policies in the United States - as long as you have these people - I will never sell my gold and I continue to recommend people not to be market timers in gold because the market timers in gold... most of them don't own any gold anymore; they already sold it and are always waiting for a deep enough correction to buy it. What people should do is gradually accumulate gold and forget about temporary fluctuations."
There is a reason this grand daddy of newsletter writers is so popular. The message is so simple yet so beyond the reach of the average casino patron. I don't know how well I have veiled my contempt for the day traders and commodity jocks to whom everything is a play. Not very well, I suspect.
One might think of me as a pro-gold booster, but all I have ever said - "gold is not about price, it is about value" - was taught to me early on in my financial awakening. Now, NFTRH73 includes some words to the effect that the shiny stuff should not be worshiped but rather, used simply as a monetary tool in a time of extreme monetary stress.
Hype and emotion are KILLERS of people who wade into the gold market without the proper perspective.
