Marc Faber, investing guru and publisher of the Gloom, Boom and Doom Report, said today that record high deficits from government spending and near-zero interest rates will create a great deal of inflation “down the road.”
“Money printing will be unprecedented because the deficit will need to be financed,” Faber said, and most of this money will flow into “speculative assets,” pushing the stock market, as well as gold and commodities much higher.
Faber continues to tell investors to buy equities and stay away from bonds and cash. He also thinks investors “have to own some resources, some commodities, some mining companies and some physical precious metals,” and can’t understand “why someone would hold dollars and not own gold.”
“Money printing will be unprecedented because the deficit will need to be financed,” Faber said, and most of this money will flow into “speculative assets,” pushing the stock market, as well as gold and commodities much higher.
Faber continues to tell investors to buy equities and stay away from bonds and cash. He also thinks investors “have to own some resources, some commodities, some mining companies and some physical precious metals,” and can’t understand “why someone would hold dollars and not own gold.”
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