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Marc Faber: S&P is set to crash 50%, giving back 5 years of gains

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Michael J. Kosares
USA Gold
Published : August 09th, 2016
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Category : Gold and Silver

CNBC/Alex Roseberg/8-9-2016

“The fact is, the market hasn’t really been driven by genuine buying, but by stock buybacks, takeovers and acquisitions, and market leadership has been narrowing. It’s not that many stocks that have been making new highs. It’s quite a narrow growth of stocks that have been very strong.”

MK note:  Difficult to quarrel with that assessment, though a 50% decline might be a bit on the strong side.  As many have pointed out, the current lofty stock valuations are principally the work of the Federal Reserve and its easy  money policies, and not the result of a strong underlying economy.

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Michael J. Kosares is the founder of USAGOLD-Centennial Precious Metals, Inc., the author of "The ABCs of Gold Investing: How to Protect and Build Your Wealth with Gold", and numerous magazine and internet articles and essays. He is also writes a popular weekly Client Letter on the gold market. Mr. Kosares is frequently interviewed in the financial press and is well-known for his on-going commentary on the gold market and its economic, political and financial underpinnings. He has over 30 years experience in the gold business. USAGOLD-Centennial Precious Metals is one of the oldest and most prestigious gold firms serving private investors in the United States, Europe, Canada and Australia.
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