Loading ...Submitted by cpowell on 07:27PM ET Sunday, October 12, 2014. Section: Daily Dispatches
10:31p ET Sunday, October 12, 2014
Dear Friend of GATA and Gold:
Financial letter writer Marc Faber made on Friday what likely will be his last appearance on Business News Network in Canada — not because of failing health or retirement but because he declared that the monetary metals markets are manipulated.
As soon as Faber made his declaration on BNN’s “Business Day” program, moderator Frances Horodelski cut him off, asserting that time had run out.
Horodelski asked Faber if gold would reverse upward with other commodities when the U.S. dollar falls. Faber replied: “Precious metals can still go lower, because, as some knowledgeable people have proven, the markets are manipulated. But I don’t think they will stay low. I think they may go lower temporarily and then rebound strongly, and if I were a reader, I would no longer trust central banks, and [instead] say, ‘I want to be my own central bank and have some gold and silver stored in a safe place, certainly not in the U.S.”
BNN’s likely final interview with Faber is 9 minutes and 22 seconds long, with the comments about gold and silver market manipulation coming at the 8:15 mark. Until BNN takes it down, it can be watched at the network’s Internet site here: