Marc Faber, The Gloom, Boom & Doom Report, shares his views on how inflation has impacted global wealth.
"We are in a gigantic asset bubble around the world with prices of real estate having risen a lot," he said. "The high end is at record highs. In the Hamptons, in Mayfair, London, Hong Kong, Singapore, and we have a high inflation overseas, so I think that one day this asset inflation will lead to deflationary collapse one way or the other."
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.