Marc Faber's Warning Shocks CNBC Anchors: 'Don’t Store Your Gold In The United States!' (VIDEO)

If you're not careful, Jamie Dimon will send your physical gold to Hugo Chavez...

Last week on CNBC the following classic exchange occured:

Faber:  "I prefer if investors hold physical gold in a safe deposit box, ideally outside the US, in various locations - Switzerland, Singapore, Hong Kong, Australia, Canada.  I think it’s important in today’s very uncertain world to diversify, not only the various asset classes, but also the custody of your assets should be in different jurisdictions."

CNBC: "Uh, so do you thus not trust US banks or US custodians?  Do you think they might fail or abscond with the gold?"

Laughter and smirking from CNBC.

Faber: "I don’t trust anyone."

Uncomfortable silence.

CNBC: "Hmmm. Interesting."

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Related story:

• Hugo Chavez Nationalizes Venezuelan Gold Industry, Demands 211 Tons Be Returned From Abroad - JPMorgan, Bank Of England & ETFs Scramble For Physical Metal

Comments

[j r]

While you're busy getting your gold out of the US you might as well get your ass out as well. I'm not sure what makes the foreign banks any more trustworthy than US banks. Bankers are scum everywhere.

I don't trust anyone either. Bury it. In several different places. Don't tell anyone except maybe your spouse. Don't even tell your spouse where all of it is. Just to be sure.

[S. Gompers]

Brings an interesting twist to "I'm from the government, I'm here to help you." Precursor to seizures perhaps?...

[justin]

keep your money somewhere safe, you dont trust anyone, dont trust him in its entirety neither.

[pedros]

actually, bury it and don;t even tell youself. make up a treasure map that only you, and only some time in the future, can decipher. they might try to torture you when they come to get your gold, like Roosevelt did.

[Sarah]

Countries will work together to steal everybodys' gold.

[Ed]

Sarah hit the nail on the head. "Countries will work together to steal everybodys' gold."

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