"The global economy is probably already in recession now. It will be more obvious in the U.S. in March or June of next year," Marc Faber told ETF.com.
"At that time, the Fed will say, "Well, we didn't want to increase interest rates, but there was pressure on us to do so. So we increased them, and now we have a recession, and now we have to cut them again and flood the market with QE4,"
"If you said, 'Marc, here is $1 million, but you have to put everything in either gold or in the Dow Jones,' then I would say I'd take gold," he said.
"Everything is distorted, and it's a relative game. Looking at the fundamentals of the world, including the quantity of money, the magnitude of debt as a percent of GDP, the low economic potential and the mad frame of mind of central bankers and their intellectual dishonesty, I would own gold,"
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.
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