Epoch Times: What about gold?
Marc Faber: I have made a very compelling case for gold in the late 1990s and silver and platinum. I wrote a book, “Tomorrow’s Gold,” which was not about gold but the rise of Asia. The gold price rose very sharply between 1999 and 2011, and it corrected after September 2011. It probably overshot, and the mining shares overshot on the upside, so they corrected.
Now, between last October and December, we had major lows in gold stocks and precious metals prices from where the prices will continue to rise.
They are going to go up tomorrow or in three to five years, I don’t know. If you keep printing paper money, the supply of money increases and assets that are in short supply or limited supply—whether it’s a Ferrari or a Gaugin painting—they are in tight supply, so they will appreciate.
They will not all appreciate at the same time and to the same extent. There will be bubbles in real estate and collectibles; there will be bubbles in equities, as we have had three times since 1999.
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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