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MARC FABER PH.D. Date of Birth: February 28 Nationality: Swiss. Dr Marc Faber was born in Zurich, Switzerland. He went to school in Geneva and. The Gloom, Boom & Doom Report is an in depth economic and financial section) and emailed to all subscribers in PDF format around the 1st of each month. These reports are posted in PDF format on the website and emailed to the subscribers within the first few days of every month.

If we download a good car it will go to Germany. If we download useless crap it will go to Taiwan and none of it will help the American economy. The only way to keep that money here at home is to spend it on prostitutes and beer, since these are the only products still produced in US. I've been doing my part. In the October edition of Faber's Gloom, Doom and Boom Report, he criticized "liberal hypocrites" and ongoing efforts to tear down "monuments of historic personalities.

I am not a racist, but the reality — no matter how politically incorrect — needs to be spelled out as well. For years, Japanese were condemned because they denied the Nanking massacre," Faber said. Faber continues to stand by his remarks. Published by Barons Who's Who, Retrieved Archived from the original on There are already around different cryptocurrencies in the world today.

These currencies have risen sharply and have now been corrected.

You are in close contact with Switzerland, although you have been living in Thailand for many decades. Trump was just at the WEF and gave information here in Switzerland and gave a speech that can be interpreted in different ways. What would you recommend to Switzerland, a small country in the middle of Europe?

What should Switzerland do in this situation? We are talking about , and since then we have always been committed to our independence and freedom in Switzerland, vehemently.

We Confederates died fighting for it. Our ancestors sacrificed their lives for their independence.

Marc Faber Blog

Today we are talking about much higher taxes that we have to pay laughs! I believe that we would be socially and economically better off if we were to be tougher with our foreign policy. But we would certainly have to be a little more self-serving and stubborn for that than we are at the moment. Marc Faber : Yeah, I did that too.

I am in favour of certain aspects of the EU, but I am not in favour of most of them. Marc Faber : The single currency certainly has certain advantages, I do not deny that. There are also certain open borders, open trade in goods and goods, and openness with regard to the operation of services, which are beneficial for all.

I do not understand, however, that the EU must always interfere in our affairs. I am completely against such external influences.

Switzerland is a country that works relatively well. I say relative, because not everything is perfect.

That is why we should not allow ourselves to be persuaded by people who come from countries that are in a catastrophic state, who are in a state of complete economic decline and who also have great difficulties in other respects.

There have been wars, the oil crisis and many other moments that have led to uncertainties and changes in our lives. Today it could be that we are at a turning point again, just when you observe the policy of Trump, but also the technical progress, including the cryptocurrencies and the blockchain developments in general. In addition, there are many unresolved social and geopolitical problems.

What do you think is happening in this world at the moment? Marc Faber : What will happen in the future is always uncertain.

The knowledge of individual citizens about the future is changing. There are periods of time when people are more optimistic or more pessimistic. Today, they are indeed concerned and rather pessimistic. I am talking about people who are or may be relatively well informed today.

Gloom, Boom & Doom Report

For example, you can read how much government spending and social security contributions cost us. These figures can be found when you want to get information and they tell you a lot about what is happening at the moment. People see the many refugees everywhere and wonder what they are doing and what they will cost.

Who pays for all this in the end, people think? People who are going to get a pension are worried whether they will actually get their pension in the same measure as they have gotten it promised from the pension funds and politics. But the pension funds will not have enough money to keep their promises. So it will be the case that, in future, social benefits will be reduced in general or that the young people who work will have to pay more.

You can count it on two fingers. Marc Faber : Exactly. I would not let all people who do nothing or do nothing into such countries. These people come to another country, then you have to adapt to the realities of that new country, tackle and work, or not come. China, on the other hand, seems to make this much more filigree and planned, more predictable.

Then there is Russia, where it seems that we do not know whether the country will make it, and finally there are also the Arab states on the geopolitical map, which will have to deal with democracy, whether they want it or not.

What do you think the next ten years will bring with regard to these regions? Since I have been living in Asia since , China and many other Asian countries have developed incredibly well. They have developed into an economic bloc. They have more patent applications in China today than in the US and Europe.

Market Commentary July 2019

They have modern technologies and brands there that are considerably larger than we know them in the USA and Europe. But what will happen at the same time as the USA in the next 10 to 20 years? I say miserable. I cannot tell you the timing of this miserable ending.

Nor can I tell you what to do about it, for example, whether it is best to handle cash, download stocks or precious metals. I would definitely diversify the assets. But the whole system of interventions that we have seen, in principle, amounts to not solving problems, but putting them on the next generation in the future.

Their children will not appreciate that, as I have already said. Look, my grandparents, who lived around , had just experienced the First World War when there was hyperinflation in Germany. Then came the great global depression, followed by the Second World War. In Switzerland, which was not fully affected by the war, foodstuffs were rationed.

Every two weeks you got an egg. These are conditions that young people cannot even imagine! They just think that if things get worse, the state will pay.

Yeah, but who pays the state?

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This is going to end bitterly. We have had a hegemony of the western world behind us since about until around , and now all emerging economies have grown at an enormous rate in the last 20 to 30 years, much faster than the economies of our countries. In terms of wealth around the world, the West has shrunk dramatically, whereas these other countries have grown enormously.

This is the beginning of the downfall of the West. These processes went on in ancient Rome for hundreds of years. The difference is that the changes in the world today are happening at a much faster rate than they did in the ancient Romans. Transport networking is of a completely different nature and the transmission of messages is much faster nowadays.

What used to take or years can now happen in 20 or 30 years in our world. When I went to Asia in , they were all very poor there. The country was an emerging market.

But I was already positive about Asia at that time. But the development of this region, these countries, has surpassed even my most daring expectations and surprised me unbelievably.

The accumulation of wealth is incredible. In 30 years, this world will look completely different from what it looks like today.

A business leader recently said in a conversation that he would give these states another 10 to 20 years, then everything would fall over there. These countries are not viable for longer than that, it would be because of the fact that few have much and many have little to do with revolutions.

The democratic deficits are not sustainable. Marc Faber : There is arrogance in the western world, saying that democracy is the best system.In he set up, with some of his friends and associates, Source: www.

But what will happen at the same time as the USA in the next 10 to 20 years? They have not studied history or geography. COM Disclaimer, which is incorporated herein by reference. The democratic deficits are not sustainable. But the whole system of interventions that we have seen, in principle, amounts to not solving problems, but putting them on the next generation in the future.

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