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Monday, February 29, 2016
Marc Faber: I Am Buying Gold because I Am Fearful
Maria Bartiromo: You said a moment ago, "Markets go up and down." The dollar goes up and down, stocks go up and down and yet, you also say you will never stop buying gold. So what's behind that strategy? Doesn't gold go up and down too?
Marc Faber: You see, I want to tell you something, Maria, about gold. I buy gold because I'm fearful that we will still have a systemic crisis, that we will have wars and so forth in sum. So I'm buying gold because I'm fearful. I'm sorry to say, Maria, you don't own any gold and you are in great danger because you don't own any gold. So I'm fearful and I own gold, and you are in danger because you don't own any gold.
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.