Marc Faber the sovereign crisis in Greece was a catalyst to knock markets down

Faber : US Bonds are better than Sovereign Bonds in Europe right now

Marc Faber : I think first of all the market became very over boat in mid-April and the correction was long overdue. The technical position of markets had deteriorated. So I think the sovereign crisis in Greece was kind of a catalyst to knock markets down. And it was a reminder that a number of western states, nations including the U.S. eventually will have liabilities that are excessive compared to their economies and so either taxes will have to go up or expenditures will have to go down, or a combination thereof, which then will not be particularly favorable for economic growth.

and when asked if Marc Faber would rather keep his money in the US view the global situation worldwide from Europe to Thailand etc , Marc Faber answered :
" Well, I think that near-term, obviously, what has happened is like in 2008, asset markets went down and the U.S. dollar went up. And essentially since November 25 of last year, the dollar has been strong vis- a-vis the Euro. In other words, the Euro has begun to weaken and as the dollar then strengthen, asset markets came down again because a strong dollar is an indication that global liquidity's tightening. And so we have a similar pattern like in 2008. But I wouldn't call the U.S. dollar and U.S. government bonds to be safe. I just think they are right now for the next three months may be the better option than say sovereign bonds in Europe. "