I listened but don't put much into this. He looks at things from fairly macro economic perspective, I think. We are living closer to the reality though. I agree with him on most points but feel that gold has more going for it than he is suggesting.

The direction of the USD will probably dictate where gold goes over the coming months more than anything and it looks very toppy. For the very reasons that Faber claims gold may lose some luster, I think the USD will also lose. Investors have driven it up by buying treasuries but they'll quickly get tired of such low returns, particularly if the dollar starts to pull back. Gold moves, almost without exception, inverse to the dollar and this could be very good for Gold.

If gold goes up and the markets make a nice little bear market recovery rally, we'll see gold stocks do very well in the short term. Gold shold continue to do well even when gold stocks don't though.

Frank B. suggested buying some CEF today... so I did this morning.