#042 “Dr. Doom” Marc Faber: If You Only Lose 50% in the Coming Crash, Count Yourself Lucky

Summary: Marc FaberJoining us on the phone from Thailand, economist Dr. Marc Faber is here this week to discuss the Dollar, gold, silver, real estate - and his utter distaste for the economic policy of Obama, Bernanke, Geithner, et al. "Americans would get a true sense of what is going on if they wouldn't listen to the constant repeated lies published by the government," such as unemployment and inflation figures. Faber also explains why America is turning into a banana republic, "which is largely characterized by a political elite that doesn't care about the people, but really only cares about their own well-being." He also addresses some of the questionable motivations of US economic and military policy.  "Why is the US in Iraq?  It has nothing to do with human rights and democracy.  It's about oil." "Eventually, this whole system will collapse," he warns.  "And just like when a computer crashes, you have to re-boot it.  The whole financial system will be re-booteded." To gird your investment portfolio from the future Faber sees coming, he suggests staying away from cash and government bonds. "More desirable is probably real estate, especially now in the United States at this level.  It may still go down another 10%, but it's now reasonably priced and by some standards, it's even cheap." Faber also suggests some equities and precious metals as hedges against the coming inflationary economic collapse. In order to survive financially, investors must embrace volatility. "I think we're moving into an environment where if you lose only 50% of your money, you may actually be lucky."   More Information Visit Marc Faber's website:  The Gloom Boom Doom Report Click here to subscribe to our show via ITunes Click here to subscribe via RSS (Non ITunes feed) Like our show?  We would appreciate it if you would honestly rate our show with ITunes.  Your rating will help the show and its ranking in ITunes immensely.  Thank you!