Daily Gold & Silver Updates

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Marc Faber To Robert Shiller: “You Keep Your Dollars, I’ll Keep My Gold”

ryanpomy January 23, 2013

Robert Shiller, a professor of both economics and finance at Yale and author of the best-selling book, Irrational Exuberance has recently questioned Marc Faber’s decision to stack physical gold instead of holding onto worthless fiat.

“I’m prepared to make a bet.” said Faber. “You keep your US Dollars and I’ll keep my gold. We’ll see which one goes to zero first.”

Marc Faber admitted to being too gloomy, joking that “Sometimes I’m so concerned about the world I want to jump out of the window.”

But “in the worst case scenario, in the systemic failure that I expect, [gold] would still have some value,” the Swiss author and money manager went on.

Shiller responded “I’m inclined to think gold prices after this crisis might return to a lower level. Given the low yields of the alternatives [ie, bonds], the valuation of the stock market doesn’t look so bad.”

When the financial system “goes down” replied Faber, “and only plastic credit cards are left, maybe then people will realize and go back to some gold-based system or such.”

marc faber

Comments (3)

  1. why does everyone say every fiat system have gone to zero?
    there are about 200 that still exist today that havent gone to zero

    this sort of ridiculous statements is what makes us stackers look bad in the eyes of the sheeple

    Reply
    • I deleted that persons comment FYI, no name calling will be done on my blog. I agree that it is somewhat of a cop-out statement since it is no debate that all previous currencies have ended and there are still some around today. But it still highlights the fact that they are doomed to fail and eventually they will. This is more of a long term possibility than anything.

      Reply
  2. I would have thought that if the dollar crashes to zero, then wouldn’t credit cards and bonds go with it…what would you pay for them with $0? so they would be worth $0…unless I’m missing something – give me PM’s anyday :)

    Reply

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