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GoldSeek Radio Nugget: Dr. Marc Faber

GOLDSEEK RADIO
By: Chris Waltzek, GoldSeek.com Radio

 -- Published: Friday, 12 July 2019 | Print  | Disqus 


Dr. Marc Faber & Chris Waltzek Ph.D. - July 9th, 2019.

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Summary

  • From his Thailand office, Dr. Marc Faber, a globally renowned economist and editor of the GloomBoomDoom report, returns with his outlook.
  • According to Dr. Faber, the global economy is on the cusp of a recession. Investors are advised to batten down the hatches.
  • A global / domestic economic maelstrom of epic proportions where paper assets denominated in the reserve currency lose up to 80% is possible.
  • Few asset classes will endure the economic storm ahead, however, safe havens include gold, silver, PMs shares and cryptocurrencys.
  • Despite the remarkable increases in modern productivity given quantum leaps in access to technology and information, living standards are sagging.
  • Incomes have not matched increases in the cost of living.
  • The duo concur that the erosion of the standard of living is directly correlated to profligate money expansion, which acts as a reverse "Invisible Hand."
  • Both the guest/host advocate diversification of asset classes, increasing the weighting of safe haven, hard money assets in the coming years to shield wealth from potential economic volatility.

From his Thailand office, Dr. Marc Faber, a globally renowned economist and editor of the GloomBoomDoom report, returns with his outlook on the financial markets for 2019. According to Dr. Faber, the global economy is on the cusp of a recession. Investors are advised to batten down the hatches in preparation for a global / domestic economic maelstrom of epic proportions where paper assets denominated in the reserve currency lose up to 80% or more in value. Few asset classes will endure the economic storm ahead, however, safe havens include gold, silver, PMs shares and a diversified cryptocurrency portfolio. Despite the remarkable increases in modern productivity given quantum leaps in access to technology and information, the typical standard of living level for the majority of people has stagnated, as incomes have not matched increases in the cost of living. The duo concur that the erosion of the standard of living is directly correlated to profligate money expansion, which acts as a reverse "Invisible Hand" as outlined in the Wealth of Nations (Smith, 1776). Both the guest/host advocate diversification of asset classes, increasing the weighting of safe haven, hard money assets in the coming years to shield wealth from potential economic volatility.


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 -- Published: Friday, 12 July 2019 | E-Mail  | Print  | Source: GoldSeek.com

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