Hard Times Ahead
Part 1 of Interview: Prepare for the End
Select Faber Quotes
- “Bernanke, Yellen, Powell are the lowest-grade bureaucrats I’ve seen in history.”
- “These people will continue to print money.”
- “The academics will say we didn’t print enough.”
- “Central bankers are criminal.”
- Faber’s advice to academics and underlings employed by the Fed who want to keep their job: “Don’t expose the system, just shut up.“
Faber discusses the Stagflation case, negative real interest rates, and currency devaluations, topics on nearly everyone’s mind.
On the Investment Side
Faver also discussed possible foreign exchange controls in which it is not possible to hold positions outside designated countries.
“You can’t get your money out,” quipped Taggart,
Faber replied, “It’s very perilous for any investor to only hold assets in one country.”
Part 2 of Interview: Prepare for the End
Investment Ideas
- “Gold, and silver and platinum have been neglected as objects of speculation.”
- “Some emerging markets are quite depressed, and some have economies that in the long run look reasonably good.”
Faber’s Portfolio
Faber’s portfolio is 25% precious metals, 25% real estate, 25% equities, and 25% bonds.
Faber predicts cash will vanish, but will be replace by “equally bad” central bank cryptocurrencies.
“Who do want to control your money,” asks Faber.
“The beauty of gold and silver is nobody controls it.”
Tomorrow’s Gold
Faber is author of “Tomorrow’s Gold“, the best investment book ever written.
Despite the title, the book is not about gold or precious metals. It is about investing in undervalued assets and holding them until they aren’t.
If you have not yet read the book, pick up a copy and read it.
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Mish
” Bernanke, Yellen, Powell are the lowest-grade bureaucrats I’ve seen in history.” “These people will continue to print money.”
Had Greenspan been able to get himself appointed for life, he would have been printing money since when Bernanke started. Greenspan was a gold bug before he became Head FED, then became one again, after he left the job. That is how the game is played.