원문 보기
Marc Faber, good morning. The euro is trading today at less than 2 years. Will this move the dollar forward by less than 80 cents? How do you see it evolving in the coming months? Yes, I have the impression that in the short term, the franc is a bit overvalued and it will correct, but in the long term, it's clear that currencies where governments are printing more and more money, like in all the United States and I suppose also in Europe, will increasingly need to take action.
These currencies will fall in the long term, concludes Francis. And I have always maintained that the ultimate or terminal value of the dollar is precisely 0. So the dollar, yes, it's not going to disappear. It's like in Zimbabwe, the currency hasn't disappeared, but there will be a day in the future, in three, five, or ten years, a crisis where, like in the case of your computer crashing, you'll have to restart the system.
And I believe that in this current situation, the best, safest currencies are silver and gold. The markets are indeed a second A recession in the United States—do you believe in this scenario? Yes, it's very likely we'll have a period in which the US bond market won't grow much. The US bond market is signaling a recession because interest rates have fallen again significantly over the last ten years.
We now have yields of 2.7 percent, which is naturally not attractive in the long term. This is a catastrophic investment in my opinion because the dollar is weak and the 2.7 percent yield doesn't compensate for the possibility, or in my opinion, the certainty, that US government bonds will lose their value.
That is to say, right now they still have a status of three times their value. Well, in my opinion, they're already jackpots because I believe the US government will go bankrupt, but they won't go bankrupt in a way where they won't pay the interest, but they will have to pay the bonds and the interest rates on the bonds in a currency that has no real value.
Which emerging countries are you currently targeting, and which sector says yes in principle? I'm not focusing on emerging markets right now, but I have investments in Singapore, Malaysia, and Thailand because I've found many stocks there with dividends of around 5 to 6%, and the currencies are relatively stable and are actually appreciating against the US dollar.
However, my preferred investments right now, in a situation where central banks will be forced to print money, are still gold and silver. You can't increase the money supply during such a challenging phase, and especially not in the same way you can print paper money. For this reason, I tell my investors they should accumulate their gold every month.
There will be a correction, that's clear, because we've seen a significant increase, but I believe that in the long term, it will still be a good investment.
Comments 0