TGR: Are those financing companies and banks Asian-based or internationally based? That sector is certainly out of favor in North America.
Marc Faber : I have no Chinese banks, but I own banks in
Singapore and Thailand and finance companies in Singapore, Thailand and
Malaysia. Actually, I'm also positive about some financial stocks in
Europe and America. Simply because of the money printing, these
financial institutions are benefiting at the expense of honest people
who have savings that yield nothing while their cost of living is
progressing at 5–10% per annum.
I took a taxi the other day from
New Jersey to Manhattan. The Lincoln Tunnel has raised its toll by 50%,
from $8 to $12. But the government, brainwashed by incompetent academics
at the Federal Reserve, will tell you that inflation is 2%.