Greece Should Have Defaulted: It Would Have Sent A Message

"Greece should have defaulted; it would have sent a message that not all derivatives are equal because it depends on the counterparty." - in Lew Rockwell

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

The Banks Are Suffering Because They Are Too Leveraged

The banks are in a very bad shape because they are so leveraged. US banks are also leveraged through the derivatives markets and so forth. - in BI

Related: Bank Of America (BAC), Citigroup (C), Wells Fargo (WFC), Banco Santander (STD), Deutsche Bank AG (USA) (DB), JPMorgan Chase & Co. (JPM)

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

European Crisis: Nobody Kept The Maastricht Treaty Promises

When the European Union and the Eurozone were formed, in the Maastricht treaty it was stated that no country should have a fiscal deficit of more than 3 percent and the debt to Gross Domestic Product (GDP) ratio should not exceed 60 percent, but nobody kept that promise. - in Reuters

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

Assets Will Be Taxed More And More

I also have a concern generally speaking about our capitalistic system. For sure people with assets, they will be taxed more heavily, that’s for sure. - in BER

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

Gold: A 30 to 40 Percent Correction Cannot Be Ruled Out

A 30 percent correction or 40 percent correction cannot be ruled out, but as I maintain, again and again, I’m not going to go and sell my gold. - in BER

Related stocks and ETFs, SPDR Gold Trust ETF (GLD), Newmont Mining (NEM), Goldcorp (GG), Barrick Gold (ABX)

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

One Day There Will Be A Credit Collapse, But I Think We Aren’t Yet There

One day there will be a credit collapse, but I think we aren’t yet there. Before it happens they’re going to print,” Faber speculates. “And when printing as it has done in the last 12 years in the U.S. leads to discontent populations, because when you print money then only a few players in the economy that benefit, not the majority of households. - in BER

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

Ultra Bearish On The Long Term Future

"I am ultra bearish. I think most people will be lucky if they still have 50 percent of their money in 5 years time. You have to have diversification - some real estate in the countryside, some gold and some equities because if you think it through, say Germany 1900 to today, we had WWI, we had hyperinflation, WWII, cash holders and bondholders they lost everything 3 times, but if you owned equities you'd be ok. In equities in general you will not lose it all, it may not be a good investment, unless you put it all in one company and it goes bankrupt." - in ZeroHedge

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

Derivatives Market: One Day Will Cease To Exist

"One day the whole derivatives market will cease to exist." - in Reuters

Related, CME Group Inc. (CME), IntercontinentalExchange, Inc. (ICE)

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

The View Of The Keynesian Economics

Larry Summers recently said, the paradox of the situation is that we got into trouble because of too much borrowing and spending but we have to spend more and borrow more to get out of it. I disagree, but this is the view of the keynesian economics. - in Reuters

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

Close Correlation Between All Markets In The World

There is close correlation between all markets in the world. This year, the U.S. has grossly outperformed the emerging markets In Asia, we’re down between 15 percent and 25 percent in markets. In Eastern Europe, even more. The U.S. this year is a wonderful market relative to the rest of the world. I think this outperformance may go on for a while. - in Wall St Sheet Cheat

ETFs, iShares MSCI Emerging Markets Index ETF (EEM), SPDR S&P 500 ETF (SPY)

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

Reuters Video: I Am Not That Bearish On Equities

Dr. Faber, talking to Reuters from the NYSE.

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

Financial Sense Interview (43 min)

A 43 minutes long interview, Financial Sense Newshour.

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

Thoughts On The European Crisis

"Unless there's an authority that can really punish (rule breakers) it's not going to work. I think the best thing to do is dissolve the EU. Let the markets sort this out. Let the countries default.

It's going to be painful, very painful. But rather than to intervene into something that is not going to work in the long run...intervention is the wrong medicine." - in Newsmax.com

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

Video: Dissolve The EU

Marc Faber, editor of The Gloom Boom & Doom Report, is calling for the EU to dissolve:

“It’s going to be painful, very painful, but rather this than to again intervene into something that is not going to work in the long run.”

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

Commodities Vs. Equities

I am also interested in commodities in the long run, but there will be times when equities are better than commodities and there will be times when you have to move back into commodities. - in Index Universe

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

Gold: A Major Correction Cannot Be Ruled Out

A 30 percent correction or 40 percent correction cannot be ruled out, but as I maintain, again and again, I’m not going to go and sell my gold. - in ETF News

ETFs, SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX)

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

Gold: The Downside Exists If...

In my view the downside exists if money printing by government is insufficient to revive or maintain credit growth at this level and you have a credit collapse.

One day there will be a credit collapse, but I think we aren’t yet there. Before it happens they’re going to print. - in etfdailynews.com

Related: SPDR Gold Trust ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX)

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

The U.S. Will Continue To Outperform

There is close correlation between all markets in the world. This year, the U.S. has grossly outperformed the emerging markets. In Asia, we’re down between 15 percent and 25 percent in markets. In Eastern Europe, even more. The U.S. this year is a wonderful market relative to the rest of the world.

I think this outperformance may go on for a while. Some emerging markets could rebound more strongly than the U.S. because they are more oversold. Like India, the currency is down 18 percent since July and the market is down 22 percent. Currency adjusted, the market has been extremely weak and is oversold. It could rebound somewhat here, but forget about new highs. It’s not going to happen anytime soon. - in Bloomberg TV

ETFs, iShares MSCI Emerging Markets Index ETF (EEM), iShares MSCI Brazil Index ETF (EWZ), SPDR S&P 500 ETF (SPY), iShares Russell 2000 Index ETF (IWM)

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

I Have A Very Special Stock Tip For You

I have a very special stock tip for you. The symbol is g-o-l-d. That is what I prefer to hold. Both the euro and the dollar are long-term undesirable currencies, especially given zero interest rates in the U.S.

Equities to some extent become like cash because they become a store of value compared to cash at a zero interest-rates. Paintings become a store of value, stamps become a store of value. - in Bloomberg TV

Related, SPDR Gold Trust ETF (GLD)

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

Gloomy Outlook: What Do You Invest In?

It’s actually quite gloomy but if you’re very gloomy what do you invest in: Treasuries, Italian bonds or commodities or equities? I happen to think U.S. equities are not terribly expensive, so relatively speaking to other assets, they may for a while actually do quite well. - in Bloomberg

Related, iShares Barclays 20+ Yr Treasury Bond ETF (TLT), iShares Russell 2000 Index ETF (IWM)

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

With Money Printing You Can Hide A Lot Of Things And You Can Postpone Problems

“Postponing problems is not good news, but it is better news than if the whole eurozone falls apart. It gives some time to maybe find better solutions. I doubt they will be found, but with money printing you can hide a lot of things and you can postpone problems as we have seen in the U.S.” - in Bloomberg TV

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

The Market Is In Neutral Territory

Right now, the market is in neutral territory. It was very oversold on October 4th when the S&P dropped to 1,074. Now around 1260, the upside in my opinion will be between 1,280 and 1,350 because there’s a lot of supply around that area. But if there is some good news coming out of Europe, and good news would simply mean postponing the problems for another few years with some kind of money printing operation, either by that ECB or IMF or EFSF, that lift stock prices higher. - in Bloomberg

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

Bloomberg Video: US Equities Are Not Terribly Expensive

Dec. 7 (Bloomberg) -- Marc Faber, publisher of the Gloom, Boom & Doom report, talks about the outlook for equities and his investment strategy. Faber speaks with Lisa Murphy and Adam Johnson on Bloomberg Television's "Street Smart."

Related ETFs, SPDR S&P 500 ETF (SPY)

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

China: Easing May Not Mean That The Economy Will Do Particularly Well

"But let me tell you something about easing. when Mr. Bernanke became fed chairman, the S&P 500 Index was at 1264, that was on february 1st, 2006. We're now at 1244. So the market is lower than it was at that time.

In the meantime, gold has gone to 1,746 USD. The easing may not mean that the economy will do particularly well." - in CNBC

Related, iShares FTSE/Xinhua China 25 Index ETF (FXI)

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

CNBC Video: Hard Landing In China?

Latest CNBC video interview.

Related, iShares FTSE/Xinhua China 25 Index ETF (FXI), SSE Composite Index

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

Sensex: The Market Is Likely To Remain Highly Volatile

The market is likely to remain highly volatile, and fail to make new highs. - in Bloomberg UTV

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

Obvious Slowdown In The Chinese Economy

Basically the data can be manipulated, but in general I would say there`s an obvious slowdown in the chinese economy and as I pointed out in my report, I think there is a chance for a haed landing. - in CNBC

ETFs, iShares FTSE/Xinhua China 25 Index ETF (FXI)

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

There Is An Obvious Slowdown In The Chinese Economy

CNBC video interview, December 2011.

Related ETFs, iShares FTSE/Xinhua China 25 Index ETF (FXI)

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

Many People Think Gold Is In A Bubble. That IS Not My Impression.

Many people think that gold is in a bubble. That is not my impression.

Last week I was in Taiwan and later I was in South Korea. I gave a two conference presentations, and I asked the audience, "How many of you own gold?"

In Taiwan I think there was one participant that owned some gold and in Korea in a room with maybe one thousand people, not a single person owned gold.

ETfs, SPDR Gold Trust ETF (GLD)

Stocks, Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG)

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

A Chinese Slowdown Impacts Everything

If the Chinese economy grows at 10 percent, or 5 percent or no growth, it has a huge impact on iron ore, copper, nickel, anything. It will have on the global economy a devastating impact via the resource producers of the world, whether it's Brazil or Australia or the Middle East or Africa. - in CNBC

Tickers, iShares MSCI Brazil Index ETF (EWZ)

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

We Could Have A Hard Landing With No Growth At All

The Chinese economy consists of many sectors and I think some sectors are already probably in a recession. I think growth will be much lower and it is possible that we could have a hard landing with no growth at all. - in CNBC

Related, iShares FTSE/Xinhua China 25 Index ETF (FXI)

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

Holiday Season: The American Consumer Went Shopping But...

The American consumer went shopping but it’s not supported by income growth. If you look at the share of labor income or salary as a percent of GDP going down, what is happening is that people are again borrowing and diminishing their savings rate and I don’t think that is very sustainable. - in GuruFocus

Related, Consumer Discretionary SPDR ETF (XLY), Apple (AAPL), Nike (NKE)

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

The Chinese Economy Is Softer than Official Statistics Would Suggest

In China, if the economy slows down meaningfully or if there is a crash, it will have a huge impact on the demand from China for raw materials, for commodities. It will impact Australia, Africa, the Middle-East and Latin America...

I’m sure the (chinese) economy is softer than official statistics would suggest and probably the government will start to print money at some point. So maybe stocks will rebound here because of money printing, but again, it won’t help the economy....

There’s a huge capital flight [from China], there’s no question about this. - in Business Insider

Tickers, iShares MSCI Australia Index Fund ETF (EWA), iShares FTSE/Xinhua China 25 Index ETF (FXI), iShares MSCI Brazil Index ETF (EWZ), United States Oil Fund (USO)

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.