Marc Faber : we will have QE3

Economist Marc Faber, nicknamed Dr Doom, predicts disaster and advises buying gold. Cash at 0% doesn’t accumulate wealth either says Dr. Marc Faber : The moment central banks implement monetary policies where they keep interest rates negative in real terms, in other words interest rates are lower than the rate of cost of living increases, then it is very difficult to value anything. The only thing I can say is, Mr Ben Bernanke, Chairman of the Federal Reserve, and other central banks, they can print an unlimited quantity of money, but you cannot print gold. Gold is limited by its annual supply of around 2,500 tonnes annually. So it is not that gold is going up, it is that the paper value of money, the purchasing power of money is going down vis-à-vis a unit of account, which is gold, there are no sound currencies anymore , the only sound currencies are gold silver platinum and palladium , you cannot print gold unlike paper money says Dr. Marc Faber ....we clearly have a bubble in china , if you really believe in china , the way to play China is by buying oil industrial commodities Australian and Canadian dollars , because if there is strong growth in china the prices of commodities go up , for the average investor this is the best way to play china rather than investing in Chinese companies and stocks where the accounting is frequently questionable and in-transparent....there are better ways to play China than to invest in China , Marc Faber says that he believes the Euro will survive but that some weaker members like Spain Portugal Ireland Greece ... will eventually default....

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