Gold: "I think that we had an intermediate peak at $1921 on September 6 of last year. Then we dropped sharply to $1,522 an ounce on December 29, 2011. Since then we’ve had a feeble recovery. I think that the correction period is not yet over. I’m not selling my gold because I don’t trust governments and I don’t trust the Federal Reserve, nor would I trust the ECB or other money traders in the world. They are all going to print money. I still recommend to hold gold."
Japan: "I happen to believe that money printing will continue and I would probably buy financial shares and I believe that the Japanese market may outperform all the other markets against all expectations in 2012."
Marc Faber is a pessimist and the author of the Gloom, Boom, Doom report He also said this on CNBC y'day: ""Somewhere down the line we will have a massive wealth destruction that usually happens either through very high inflation or through social unrest or through war or credit market collapse," he said. "Maybe all of it will happen, but at different times. I think that people should own some gold and I think that people should own some equities, because before the collapse will happen, with Mr. Bernanke at the Fed, they're going to print money and print and print and print," he said. "So what you can get is a bad economy with rising equity prices."
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"Optimists these days learn English, pessimists learn Chinese, but realists learn how to operate an AK-47." .
“There is a cult of ignorance in the United States, and there has always been. The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that "my ignorance is just as good as your knowledge.” .
“The only thing we learn from history is that we learn nothing from history.” - Friedrich Hegel quotes (German Philosopher (1770-1831)"
“The Fed has had very few periods of relatively good performance. For most of its history, it’s been a loose cannon on the deck, and not a source of stability.” - Milton Friedman (1999) .