think tank, page-147

While Faber is bearish on US equities he is also saying its time to buy the large gold producers.

http://www.mining.com/enough-already-look-to-buy-newmont-barrick-iamgold-and-freeport-marc-faber-48257/

“The gold miners have been hit so badly that now is the time to consider buying in, according to Swiss investor and long time US economy bear Marc Faber, in a recent interview with CNBC.

Faber specifically mentioned Newmont, Barrick, Iamgold and Freeport as the gold stocks to consider.”

You have to love this quote from Faber (if you’re a bloke)- on the state of the US economy just months before the 2008 collapse:

“The federal government is sending each of us a $600 rebate. If we spend that money at Wal-Mart, the money goes to China. If we spend it on gasoline it goes to the Arabs. If we buy a computer it will go to India. If we purchase fruit and vegetables it will go to Mexico, Honduras and Guatemala. If we purchase a good car it will go to Germany. If we purchase useless crap it will go to Taiwan and none of it will help the American economy. The only way to keep that money here at home is to spend it on prostitutes and beer, since these are the only products still produced in US. I've been doing my part.”

I wonder if my wife would mind if I tried to help our economy like that?

Looks like Indians will never give up their traditional gold purchases. Maybe they will get sick of their govt taxing them on gold and give them the boot?

http://www.mining.com/indian-gold-purchasing-spree-continues-38429/

"Much to the Reserve Bank of India's frustration, Indians continued to buy huge amounts of gold in July, ignoring the governments pleas to curb purchases.

Data from July shows that gold and silver imports reached $2.9 billion last month, compared to $2.45 billion in June, Reuters reports.

For months now P. Chidambaram, the country's finance minister, has been implementing various rules and regulations to try and salvage India's trade balance, but apparently to no avail."