faberThe situation that we now face is ultimately going to end in a collapse of epic proportion. The financial world is now a ticking bomb that is just waiting to explode – I know this, you know this and even if the masses don’t, they can feel it in their bones…

The notoriously bearish Marc Faber is doubling down on his dire market view.
The editor and publisher of the Gloom, Boom & Doom Report said Monday on CNBC’s “Trading Nation” that stocks are likely to endure a gut-wrenching drop that would rival the greatest crashes in stock market HISTORY…

faberMarc Faber says gold’s investment case has been strengthened by the U.K.’s vote to quit the European Union as the fallout may spur the world’s central banks to step up easing, hurting currencies and buying gold and silver bullion, according to Marc Faber, publisher of the Gloom, Boom & Doom Report as reported by Bloomberg today.

faberAfter several years of low gold prices, 2016 has brought a rebound, with the metal rising almost 20% since the first of the year, although recent price corrections have slowed gold’s advance. After the Brussels terrorist attacks last Tuesday, gold rose briefly, but then was undercut by a strong U.S. dollar rally. Investors are wondering whether gold is in a temporary correction mode or if the three-month bull has run its course.

Jamie DimonThe governments in my view, with their agents the Federal Reserve and other central banks and with the treasury department, they will do anything not to let asset prices go down…If the stock markets go down, I’m convinced all the central banks will buy stocks.  All of them.

gold_bloomberg_2016Leave a million dollars with a bank, and in a year, you get only something like $990,000 back,” Marc Faber, respected publisher of the Gloom, Boom & Doom Report, told Bloomberg by phone yesterday.
I would rather want to own some solid currency, in other words … goldwarned Faber.

binford xlI had the chance once again to sit down with Marc Faber, publisher of the Gloom, Boom & Doom Report.
It was a fascinating conversation, as Marc’s residency and travels in Asia provide him with a unique viewpoint of the world’s economic engine of the last few decades.

Speaking to the macro picture, Marc noted that, “The global economy is not as the Federal Reserve and other groups [suggest]…in terms of accelerating on the upside, but actually…it’s in contracting mode.”
When asked of the implications of a contracting global economy on world equity markets, Marc pointed to an ongoing struggle between, “[Two] opposing forces. You have a weakening global economy which is bad for corporate profits…[and] the opposing force is that as global economic conditions become worse…[central banks] will have to print more money. Printing money is the only thing they know.”

The Eastern world does not need to fire a shot in order to bring the West to it’s knees. The East will simply continue creating all the wealth which will make the West to weak to fight back.
The West has become it’s own worst enemy.

faber-screengrab0“With QE, all around the world by central banks there is no safe asset anymore
I would rather focus on precious metals, gold, silver, platinum because they do not depend on the industrial demand as much as base metals, as industrial commodities.”