Friday, July 12, 2013

Marc Faber : Crude Oil is one of the very few Commodities that look attractive

Q: There has also been a big surge on crude prices, 5 percent up last week. Is this just a geopolitical one-off that is happening with crude or do you think something fundamental is changing with that commodity?

Marc Faber : Yes, actually I believe that crude is one of the very few commodities that look attractive from a longer term perspective. Between last November and February of this year was five times in the Middle East on five different journeys. My impression is that the whole Middle Eastern problems wi
ll get much worse before they get better. Maybe it will take years until they improve.

However, again as I mentioned to you, for you think money printing is the greatest things on earth. Money printing has a very destructive impact on economic life and on social conditions. When you print money, some assets and some goods and services go up in price. The increase in the prices exceeds the wage to salary.

So, most people actually suffer under money printing. But money printing benefits a few and so whilst income inequality increases and it leads to social and geopolitical tensions.

 - in CBNC TV 18 on July 8th 2013 
Click here to watch the full interview >>>>>>>

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.


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