Continue to Accumulate Gold
Just Want To Be Diversified Around the World: Marc Faber
In an interview
with ET Now, Marc Faber, editor and publisher of The Gloom,
Boom Doom Report, speaks about the emerging global
markets, and shares his outlook for investment. Excerpts:
ET Now:
The famous bear on the street I have heard is turning a bull?
Marc Faber:
Well, it depends on what one is bearish about and what is one
is bullish about. So you have to specify your question.
ET Now:
Let us start with gold. I understand that you are bullish on gold
and you believe that in the current environment the best thing to
buy or the best asset price to buy is gold?
Marc Faber:
I do not think it is necessarily the best asset. What I am suggesting
is that people should diversify their assets and should own some
gold compared to paper money. Over time central banks will continue
to print money everywhere in the world. Therefore, the purchasing
power of paper money will decline. So I would own some gold. We
are in a correction period and we may still go lower. But on this
weakness I would continue to accumulate gold.
ET Now:
What about dollar then? Are you a dollar bull and do you think the
currency is only going to appreciate further?
Marc Faber:
I think it is very difficult to be bullish about the US dollar or
anything in the US economy. But, compared to other currencies, the
dollar is now a relatively safe currency. Global liquidity is tightening
and so the dollar probably will continue to appreciate, most likely
also against Euro. But it is not that the US dollar is particularly
good. It is just less bad for the time being. I have to specify
for the time being compared to other currencies.
June
23, 2012
Dr.
Marc Faber [send him
mail] lives in Chiangmai, Thailand and is the author of Tomorrow’s
Gold.
Copyright
© 2012 Economic
Times