FABER: SKY IS THE LIMIT FOR GOLD
18 November 2009 by Cullen Roche
3 Comments
Interesting thoughts as always from Marc Faber:
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Comments
Interesting excerpt from Marc Faber’s “The Great Money Illusion.” This was something he pulled from a piece he wrote for Drexel Burnham Lambert in 1986. It may have been why he never authorized another edition:
By 2004, America will have lost its leadership, as Britain did after WWI. One dollar will no longer buy 160 yen, rather one yen will buy 160 dollars. Democracy in the West will be threatened. Index futures, currency options, etc. will no longer exist. One ounce of gold will cost $3,000, a gold standard will be in place and budgets will be balanced.
Where did you find a copy of Great Money Illusion? It’s not sold on Amazon. Did you buy it many years ago?
I ran across a cheap copy of it in New Zealand on a trip there a couple of years ago. The book does appear for sale online from time to time but generally sells for at least $150.