Gold Will Never Fall Below $1,000 Again

Posted by Marc Faber via Trader Mark

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Much like Hugh Hendry, I can watch to Marc Faber videos all day, even if I did not agree with a thing either fellow said. They just have an entertaining spectacle about them. Hence we must devote 1 post a month to Mr. Faber. I am not sure what to make of today’s video – the contrarian deep inside my soul is searching for a Gisele Bundchen moment that would mark at least a counter trend rally in the dollar – ala “I refuse to be paid in dollars” circa late 2007. Gisele almost nailed the dollar bottom to the month [Jul 20, 2008: World Currencies in the Recession] As I wrote in July 08

Many don’t remember now, but right around when the recession “officially” began (we did not admit to it until nearly a year later) in December 2007 the dollar was the scourge of the Earth. Reports of supermodel Gisele Bundchen (speaking of nice graphics) not accepting dollars (Nov 07) but only wanting to be paid in euros marked the near term bottom in the dollar.

Gisele Bundchen wants to remain the world’s richest model and is insisting that she be paid in almost any currency but the U.S. dollar. Like billionaire investors Warren Buffett and Bill Gross, the Brazilian supermodel, who Forbes magazine says earns more than anyone in her industry, is at the top of a growing list of rich people who have concluded that the currency can only depreciate because Americans are living beyond their means.

While I want to find things that say “this marks at least a short term bottom in the dollar”, in the long run – the utter disrepect our leadership has for fiscal responsibility can make the case that Marc is correct about gold. As always… we’ll see.

Faber believes there is no way we revisit stock market lows of early 2009 because of the markets ever fall again, the “money printer” will print even faster to create even more “prosperity” for us all.




Mark is a self taught private investor who operates the website Fund My Mutual Fund (; a daily mix of market, economic, and stock specific commentary. Fascinated by the market since an early age, he discovered mutual funds as a teenager in the 80s and moved to equities by the mid 90s. The origin of the website is to leverage the power of the internet in developing a transparent track record to attract investors for his potential “long/short” mutual fund. His equity focus is identifying secular growth trends and the companies most likely to benefit from these macro trends. Stocks are identified through fundamental analysis, although basic technical analysis is used in determining entry and exit points. You can receive Trader Mark’s latest posts daily by subscribing free via RSS reader ( or subscribing free via email ( With a degree in economics from the University of Michigan, a broader understanding of the economy as a whole, along with interpreting investor psychology, is also a major interest for Mark. His career background has focused on financial analysis in corporate America. Visit his site: Fund My Mutual Fund (