A gold standard is already effectively happening, according to Marc Faber.
Already, gold ownership is expanding, with much thanks to the finance industry’s exchange traded fund (ETF) innovation:
“I think we already have now a gold standard … created by the market place,”Faber told “Squawk Box Europe.”
“We have the (exchange traded funds) that have proliferated and we have more and more physical buying of gold,” he said.
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See Also:
- Faber: The Greek Bailout Won’t Succeed, And You Should Buy Gold Every Month For The Rest Of Your Life
- Faber: It’s Dead Simple, The Supply Of Dollars Will Grow Way Faster Than The Supply Of Gold
- Hedge Fund Slams Rick Bookstaber For Comments On The Gold Bubble