The Marc Faber Blog: Recommends these Gold Mining Stocks : Newmont Mining, Barrick Gold and IAMGOLD

The Marc Faber Blog: Recommends these Gold Mining Stocks : Newmont Mining, Barrick Gold and IAMGOLD

(more video)

Remind me, why we are doing this, again?

Oh, to store it back underground???

These stocks are all on my top short sells  for 2013-14 list. Gold should collapse well below 1000 per ounce as Central Banks keep dumping reserves to preserve whatever political and economic stability remains before the lights go out. Cash costs of producing gold will make less and less sense, particularly as energy prices continue to rise. The choice between gold and food is obvious - thus making these puppies long-term residents of the dog house.

Anyway we find these recommendations a little contradictory when Mr Faber touts the collapse of markets, but these stocks are magically sheltered from this, thereby defying the "laws of systemic market risk" . Sorry, but we are not going to bank on that when an offer to buy the Brooklyn Bridge  is still on the table.

Folks we could go on and on about this, but I think the message is clear, do not invest based on promotional pieces; remember too, the connected interest and 25% personal portfolio position. Now, about that bridge...  

And by the way, even if we are right this time, it does not mean we will be right the next time. Or trust me, for that matter ever again - as every bet has its own probabilities. 

Dr Peter G Kinesa

August 9,  2013 

Now, about that bridge...