“Actually 30 percent is not a big decline. It’s a picnic. A big decline is 90 percent. I’ve seen many 90 percent declines in my life,” said Marc Faber in an interview with Canadian BNN.
“Sometimes the reality comes late, but when it comes, it comes with a vengeance,” he added.
“Nobody knows what the mad professors in the central banks will do. They can go and buy baseball cards and collectables and stock and everything under the sun. They will never know when they are out of bullets because they grossly overestimate their intelligence,” he said.
“I would no longer trust central banks. I want to be my own central bank and have gold and silver stored in a safe place. Certainly not in the U.S.,” he said.
Click here to watch the interview : http://www.bnn.ca/News/2014/10/10/Dr-Doom-say-a-30-correction-would-be-a-picnic.aspx#.VFYzZ1wJGJo.blogger
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.