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.