Marc Faber : Gold is nowhere close to a bubble

Marc Faber : I was in a resource conference this is one of the resource conferences run by Standard Chartered Bank in Hong Kong all the miners are there and all the big shots in commodities and investors that are interested in commodities are there , ask the audience and you will think that these people have an exposure to Gold only about 5 people in an audience of like 400 had more than 5 percent of their assets in Gold , I find it amazing , I went already to 2 hedge fund conferences these are relatively intelligent people you would think but none of them had any exposure to Gold personally I said to them , you all intelligent people how come you do not have any gold at all don't you see what is happening with the money printing in the world , Gold was $252 in 1999 it is now $1580 (15 July 2011) they think it is expensive at this level what they do not consider is by how much credit has increased over the last ten years by how much the world population have increased over ten years by how much the supply of gold have increased , it is not increasing it is actually contracting , it the next five to ten years the total gold supply in the world will go up by precisely 3.8 percent no more , you know you mine something it is gone it is no longer there and so the supply that is no longer there is like Oil burned it is no longer there , every oil well runs dry over time " .." let's  say you buy Gold today , I do not know it may go down say a $100 , here it goes down a $200 but looking at all the factors we discussed I do not believe that we are in a bubble stage , because I have lived through the last bubble in the late 70s I can tell you that the whole world followed the Gold market day and night and traded Gold 24 hours a day like the whole world traded NASDAQ stocks 24 hours a day in 1999 and 2000 that has not happened yet we do not have a heavy weighting we do not have a heavy kind of euphoria about Gold at all , the risk today is not to own Gold but to not to own any Gold , if you have no gold at all I think you are taking a risk , and my advise is simple every month you put some money aside and you buy a little bit of Gold you do not worry about the price fluctuation buy every month a little bit and your grand children will be very happy about that unless the US government takes it away that is a possibility with Mr Bernanke just look at him he particularly not a honest looking character ..."
- in The Financial Sense NewsHour Interview



Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)

Bob Chapman - Jeff Crouere - July 20, 2011

Bob Chapman : I do not thing there will be a bill by August 2nd , more likely it will be thrown until mid October ....the social security is Ponzi scheme and nothing else ....
Bob Chapman, the International Forecaster discussed the global economy, the debt crisis, the problems in Europe, the rising costs of food and fuel and the overall state of the economy. For more information, or to sign up for his newslette

The New Gold Fever

Gold panning fine gold how to in light sand and with micro gold Panning and prospecting for gold has become one of the most popular recreational hobbies today. It is possible for many people to actually pay for their gold panning and gold prospecting holidays by selling any of the gold nuggets they find. Many people who pan and prospect for gold are discovering why a simple pan is one of the most effective techniques in discovering and recovering small amounts of gold from a stream bed. Prospecting for gold is very much like being a detective in an old Mickey Spillane novel. When you discover those small flakes in your pan for the 1st time more often then not you will be bitten by the gold prospecting bug and you realize that these small glittering pieces of gold are the only clues leading you to the source of that gold and perhaps a huge mother load



More than 80% of the gold in the Mother Lode is still in the ground.

Gold is most commonly found and or mined in one of two kinds of deposits; Placer and Lode. Placer deposits are areas of free gold that have settled in pockets after being disturbed and moved by many years weather facilitated erosion. Lode is gold found in veins buried deep underground in quartz deposits. Placer gold is mined using panning, sluicing, or dredging. Lode is mined using conventional "deep shaft" hard rock.

WASHING OFF LIGHTER SAND AND GRAVEL
1) Hold the pan just under the water and tilt it slightly away from you. Begin to swirl the water from side to side, with a slight forward tossing motion. Take care, but with sufficient force to move the surface and the lighter gravel out over the edge of the pan.
2) Leveling the pan from time to time and shaking it back and forth will cause the light material to come to the surface and the gold to settle to the bottom.
Repeat process 1 and 2 of step B until there is only about two cups of heavier material left in your pan. This material is usually called "black sand," or "concentrate."

A one-ounce gold nugget is more rare to find than a five-carat diamond.
The amount of gold nuggets being found in the world is less than one percent.

Even though gold is rare, it is far easier to find than winning a major lottery.
Because of its rarity, a gold nugget can be worth 2 to 4 times the value of the gold it contains.
Troy Weight

24 Grain = 1 Pennyweight
or 1.55 Gram




20 Pennyweight = 1 Ounce
or 31.10 Gram




12 Ounce = 1 Pound
or 373.24 Gram




Pure Gold (AU) = 24 Karat
or 1000 Fine