By Daily Crux Editor Justin Brill:

Marc Faber, editor of The Gloom, Boom and Doom Report, told CNBC today that there's already an unofficial, worldwide gold standard.

In the past, governments and central banks were the only major holders of gold. They had a great deal of power over its price, and were able to set exchange rates as they wanted.

But now there are numerous funds and ETFs that control a huge amount of gold and trade daily. This makes it much more difficult for governments to manipulate the price, and gives gold pricing greater transparency.

These funds enable private individuals to buy gold more easily than anytime in the past, which allows everyone from hedge fund managers to small time investors to escape paper currencies and keep their savings in hard money.

Dr. Faber also discussed his thoughts on the dollar, euro, U.S. Treasuries, and commodities...

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