Monday, May 26, 2014
Marc Faber : I like the concept of Bitcoin
“If one analyzes the data carefully” it is clear that “China is growing at most 4%.” Given the“gigantic credit bubble” the outlook is not hopeful as the sharp deceleration in growth is likely to continue. Faber also has strong words for Western nations treatment of the rest of the world and “the US will have to back off.. because China is so important.”
“I like the concept of Bitcoin”... “Bitcoin has its merits since you may not be able to carry gold across borders,” Faber said.
“People think they know what the future holds… and what Central banks are up to.. they don’t… I will never sell my gold and I buy more every month… I would not be short gold,” Faber said. - in Fxstreet.com
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.