{"id":33300,"date":"2012-08-30T07:42:00","date_gmt":"2012-08-30T07:42:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/marc-faber-agrees-get-the-hell-out\/33246\/"},"modified":"2012-08-30T07:42:00","modified_gmt":"2012-08-30T07:42:00","slug":"marc-faber-agrees-get-the-hell-out","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/marc-faber-agrees-get-the-hell-out\/33300\/","title":{"rendered":"Marc Faber Agrees, \u2018Get the Hell Out\u2019"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><!--Ad Injection mfunc mode ad include code--><!--mfunc--><br \/>\n<!--\/mfunc--><\/p>\n<p>The message to investors should be most clear by now: Quickly get your cash out of financial institutions and buy some <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold<\/a>.<\/p>\n<p>\u201cIt\u2019s very dangerous to put everything in cash with MF Global or another financial institution, because I\u2019m not too sure about the law . . . if the law will protect you as a depositor or an account holder,\u201d editor of the <em>Gloom Boom Doom Report<\/em> Marc Faber tells Bloomberg.<\/p>\n<p>Whether the messenger comes way of an up-straight and straight-up N.Y. City Italian, an exiled American living in Central America, a young woman totting firearms and a Bible, or an eccentric Swiss-born money manager living in Chiang Mai, Thailand, each warn investors and savers that cash on account is not safe at financial institutions\u2014no matter how much the FDIC or SIPC insures.<\/p>\n<p><!--Ad Injection mfunc mode ad code--><!--mfunc--><\/p>\n<p><!--\/mfunc--><\/p>\n<p>Gerald Celente, Jim Willie, <a href=\"http:\/\/www.beaconequity.com\/now-banks-can-legally-steal-retirement-accounts-2012-08-15\/\" target=\"_blank\" rel=\"noopener\">Ann Barnhardt<\/a> and, now, Marc Faber warn the runs on Greek, Spanish, Italian and several Eastern European banks will eventually come to the U.S.\u00a0 And if investors and savers think they\u2019re covered in the event of a failure, a media-downplayed ruling by United States Court of Appeals for the Seventh Circuit of Aug. 9, regarding the bankruptcy case of Sentinel Management Group, too many will come to know that their cash is most definitely exposed to what many say is legal theft.<\/p>\n<p>\u201cThe system is rigged. . . if you don\u2019t have it [assets] in your possession, you don\u2019t own it,\u201d said Celente, following word that his <a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">commodities<\/a> brokerage account was seized in Jon Corzine\u2019s MF Global bankruptcy of Oct. 31, 2011.<\/p>\n<p>\u201cJPM has seen fit to gobble private accounts at both MF Global and PFG-Best, with regulatory blessing as the courts sprinkled fascist holy water,\u201d writes Jim Willie of the <em>Golden Jackass<\/em> newsletter.<\/p>\n<p>\u201cIf you don\u2019t understand what \u2018get the hell out\u2019 means, there\u2019s not much I can do for you,\u201d Ann Barnhardt commented, after hearing of the Seventh Circuit of Appeals ruling.<\/p>\n<p>In the case of Sentinel, its creditor, BNY Mellon, contended that its secured loan with the Chicago <a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">futures<\/a> brokerage firm takes priority over other loans which may have been secured by Sentinel\u2019s pledge of allocated accounts.<\/p>\n<p>\u201cThe appeals court affirmed an earlier district court ruling that the bank had a \u2018secured position\u2019 on a $312 million loan it gave to Sentinel, which turned out to have been secured by customer money,\u201d according to Reuters of Aug. 9.<\/p>\n<p>\u201cI don\u2019t think that\u2019s what the Commodity <a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">Futures<\/a> Trading Commission had in mind\u201d with its requirement that brokers keep customer money separate from their own,\u201d Reuters quoted Sentinel trustee Fred Grede.<\/p>\n<p>\u201cIt does not bode well for the protection of customer funds,\u201d he added, \u201cI\u2019m sure Mr. Corzine\u2019s attorneys will get a hold of this ruling and use it for all it\u2019s worth.\u201d<\/p>\n<p>Other than strongly recommending that idle cash be removed from U.S. banks and <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold<\/a> to protect their savings from another insidious means of \u2018institutional\u2019 theft in store from them in the future: the loss of purchasing power of their <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> notes.<\/p>\n<p>\u201cI think they [Fed] will print money and that eventually everything will become more expensive. . . and I would hold some <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold<\/a> . . . and I would hold some equities,\u201d he says.<\/p>\n<p>\u201cAnd I happen to think that one day a lot of corporate <a href=\"http:\/\/www.knowfinance.com\/category\/bonds\/\" target=\"_blank\" rel=\"noopener\">bonds<\/a> will have a higher credit rating than the U.S. government [bonds],\u201d he adds, which coincidentally comes on the same day as another Bloomberg interview with credit rating agency Fitch, who warns the U.S. Treasury of an impending downgrade, if Congress cannot outline plans sometime in the first half of 2013 to narrow a $1.3 trillion annual budget deficit.<\/p>\n<p><!--Ad Injection mfunc mode ad include code--><!--mfunc--><br \/>\n<!--\/mfunc--><\/p>\n<ul>\n<li>Need fast service and cheap rates from a <a href=\"http:\/\/www.knowfinance.com\/broker\/\" target=\"_blank\" rel=\"noopener\">broker<\/a>? <a href=\"http:\/\/buystockonlinetoday.com\/\" target=\"_blank\" rel=\"noopener\">Buy stock online<\/a> at my favorite brokerage<\/li>\n<li>See today\u2019s\u00a0<a href=\"http:\/\/partners.authorizedclicks.com\/z\/21\/CD2\/subid1=site\" target=\"_blank\" rel=\"noopener\">top stock picks <\/a>and market analysis<\/li>\n<li>Want more? Check out the <a href=\"http:\/\/boardcentral.com\/\" target=\"_blank\" rel=\"noopener\">message board buzz<\/a> for these stocks<\/li>\n<li>See what newsletters are recommending these <a href=\"http:\/\/www.stockreads.com\/\" target=\"_blank\" rel=\"noopener\">stock picks<\/a><\/li>\n<li>Get breaking<a href=\"https:\/\/thestockmarketwatch.com\/<\/a><\/li>\n<li>This newsletter has been helping traders make a killing on <strong><span><span>these stocks<\/span><\/span><\/strong>. <a href=\" https: web.archive.org web 20120904071640 http: www.pennystocklive.com pennystockwarfare utm_campaign=BE_newsutm_source=BE\">Click here<\/a> for a 25% discount offer.<\/li>\n<\/ul>\n<p><!--Ad Injection mfunc mode ad include code--><!--mfunc--><!--\/mfunc--><\/p>\n<p><strong>About BeaconEquity.com<\/strong><\/p>\n<p>BeaconEquity.com is committed to producing the highest-quality insight and analysis of <strong><a href=\"http:\/\/boardcentral.com\/\" target=\"_blank\" rel=\"noopener\">small-cap stocks<\/a><\/strong>, emerging technology stocks,<strong> <a href=\"http:\/\/stockhideout.com\/\" target=\"_blank\" rel=\"noopener\">hot penny stocks<\/a><\/strong> and helping investors make informed decisions. Our focus is primarily <strong><a href=\"http:\/\/www.knowfinance.com\/category\/over-the-counter\/\" target=\"_blank\" rel=\"noopener\">OTC<\/a> stocks<\/strong> in the <strong><a href=\"http:\/\/www.thestockmarketwatch.com\/\" target=\"_blank\" rel=\"noopener\">stock market today<\/a><\/strong>, which have traditionally been shunned by Wall Street. We have particular expertise with renewable energy stocks, <strong>biotech stocks<\/strong>, oil stocks, green energy stocks and internet stocks. There are many hot penny stock opportunities present in the <a href=\"http:\/\/www.knowfinance.com\/category\/over-the-counter\/\" target=\"_blank\" rel=\"noopener\">OTC<\/a> market everyday and we seek to exploit these hot stock gains for our members before the average daytrader is aware of them.<\/p>\n<p><strong>Beacon Equity Group Disclaimer<\/strong><\/p>\n<p><!--Ad Injection mfunc mode ad code--><!--mfunc--><\/p>\n<p><!--\/mfunc--><\/p>\n<p>This newsletter is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Beaconequity.com is a wholly-owned subsidiary of BlueWave Advisors.<\/p>\n<p>While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.<\/p>\n<div class=\"nr_clear\"><\/div>\n<div id=\"nrelate_popular_2\" class=\"nrelate nrelate_popular nrelate_default nr_1col nr_text\"><\/div>\n<p>\t<!--[if IE 6]>\n\t\t<script type=\"text\/javascript\">jQuery('.nrelate_default').removeClass('nrelate_default');<\/script>\n\t<![endif]--><\/p>\n<p>\t<script type=\"text\/javascript\">\n\t\/* <![CDATA[ *\/\n\t\tnRelate.domain = \"www2.thestockmarketwatch.com%2Fstock-market-news\";\n\t\tvar entity_decoded_nr_mp_url = jQuery('<span\/>').html(\"https:\/\/web.archive.org\/web\/20120904071640\/http:\/\/api.nrelate.com\/mpw_wp\/0.51.2\/?tag=nrelate_popular&domain=www2.thestockmarketwatch.com%2Fstock-market-news&url=http%3A%2F%2Fwww2.thestockmarketwatch.com%2Fstock-market-news%2Fmarc-faber-agrees-get-the-hell-out%2F33300&nr_div_number=2&maxageposts=7200&increment=1\").text();\n\t\tnRelate.getNrelatePosts(entity_decoded_nr_mp_url);\n\t\/* ]]&gt; *\/\n\t<\/script>\n\n\n<div class=\"nr_clear\"><\/div>\n\n\n\n\n<!-- AddThis Button BEGIN -->\n\n\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a>\n<a class=\"addthis_button_preferred_2\"><\/a>\n<a class=\"addthis_button_preferred_3\"><\/a>\n<a class=\"addthis_button_preferred_4\"><\/a>\n<a class=\"addthis_button_compact\"><\/a>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n\n\n<script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script>\n<!-- AddThis Button END -->\n\n\n\n\n<p>More Posts by this author<\/p>\n\n\n\n<ul>\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/hey-silver-bugs-be-cool-honey-bunny\/33428\">\nHey Silver Bugs!  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<a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The message to investors should be most clear by now: Quickly get your cash out of financial institutions and buy [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[3],"tags":[],"class_list":["post-33300","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/33300","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=33300"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/33300\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=33300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=33300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=33300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}