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are you tired of overpaying for your gold silver and platinum bullion coins and bars then visit SD bullion comm today SD bullion was recently named the 170 seventh fastest growing company in the United States by ink magazine this is because they offer the absolute lowest prices in the industry and follow up with over-the-top customer service so what are you waiting for go to SD bullion calm today enjoy more than 60,000 happy investors that save money on every precious metals purchase they make hey everyone this is Elijah Johnson with silver doctors calm and with us today is Marc Faber editor and publisher of the gloom boom and doom report Marc thank you so much for joining us today alright and this week's st metals and markets rapper I really appreciate that you were able to come on today we also have James Anderson co-hosting with us today the first topic I'd like to discuss is the China and US trade war that seems to be developing what is your perspective do you think it can get worse from here in a real trade war actually will develop well I doubt that we'll get as far as a real trade war because I believe that the US will realize that actually it has more to lose than China for China the exports to the US are meaningful but they're not as important as they would have been 40 years ago when I went to Hong Kong in 1973 until the end of the nineteen eighties the saying was if America sneezes Asia catches a cold because up to seventy percent of Asian exports went to the u.s.
directly or indirectly but this is no longer the case nowadays in Asia the largest trading partners are actually Asian countries all Asian countries export more to China then to the US with the exception of India and globally China exports more to commodity producers and to countries that have a free trade agreement with China then to the US so the u.s.
is still an important trading partner but it's no longer the most important trading partner hi dr. father your thoughts I know this is more of a short-term question there's a lot of people out there who are USDollar bullish at least in the short term medium term I think there's going to be a rebound I know last year to buy you 10 percent versus other large trading fiat currencies do you see any any type of rebelling the DXY you're still alive potentially well there has been a big long position in euros and the short position in u.s.
dollars in recent weeks and obviously just to talk about the trade war lead to essentially that dollar strengthening but I don't think these things will last very long when you think about it the u.s. under mr. Trump would actually like to make America great again he wants to make America more competitive some is complaining about the weakness of other currencies in the world in others that in his view the dollar is too strong compared to other currencies in the world I'm not sure he can think that far but anyway that is the implication so the last thing the US administration won today is to have a strong though because that makes the us even less competitive so I think that the dollar may strengthen maybe for another month or two and then eventually we can again as it becomes obvious that the other countries with or without tariffs or a trade war remain very competitive now as for the stock market do you believe that asian stocks or specifically chinese stocks are you more bullish on them than the US stocks but I think if we I believe we've seen high for the US stock market and global market essentially on January 26 2008 in with the S&P a 2872 we're now approximately 200 points lower than we were at the time now the market is unlikely to crash in my opinion but what could easily happen is a market decline as we had between 1969 and 1982 we didn't collapse in those days although we had a major pair market between January 1973 and December 7th for almost two years but we didn't have really a crash it was just sliding a slope of hope where markets would go down and then rebound and they would go down lower than the rebound and go down even more and so us I think that may be a scenario that may unfold I'm looking at a chart that has the dow gold ratio for you know 100 years and looking at that point that you discussed from 69 to 1982 click it looks like you know the dow gold ratio back then it reached point about 1.4 so at the peak in January in 1980 the Dow obviously is not the greatest measure of the stock market because it's 30 rotating companies that it changed out all the time depending on how well they're doing I think GE is the only one that still around from the original inception of the it's been a terrible stock that's true but you know I'm just looking even an S&P 500 gold ratio you know right an hour around just two or starfleet S&P versus gold but in 1988 hit point two so if we went back to a situation where it was like 1980 that's a 10 multiplier of gold versus you know that's an p500 do you foresee that happening let's say in 2020 possibly is that potential something that could be the peak of this well I could easily foresee that happening again in the sense that the S&P he would grossly underperform gold in the years to come that wouldn't surprise me at all and but the point is it may not happen right away I think it may happen in future they may take maybe a few years until we're there because the belief right now among investors is very strongly geared towards equities globally and especially towards among young investors it's geared towards cryptocurrency at the moment gold and silver are not particularly popular among young investors but I think this will change especially when a major fraud will be revealed in the crypto space that people will lose faith in Kryptos as a store of value and that they will again buy gold I mean my advices I don't know Gold will go up I suppose it will go up relative to other assets now there's one point I need to clarify here everybody thinks that asset inflation as we had a century since 1981 for bonds from released in 1981 September 81 and equities August 82 make with this rally over the last 3040 years real-estate prices went up art prices went up collectibles went up and hood so people and investors are conditioned that this will continue they may have some arguments about which actor to perform the best but they think that this asset of inflation will continue but I'd like to introduce an element where maybe all access will go down and gold would go down far less than other actors or maybe even increase in value that is a possibility not necessarily about the huge price deflation but I'm talking here about the huge asset inflation where asset prices really tanked that is a possibility because don't forget them this is a subject that is not discussed all that much which is normal towards the end of a polo market the subject of debt has taken a back step in other words yeah people mentioned the government debt but then they argue well it's so large already and so far it hasn't caused that hit habit you can explain much further and the Fed can and it's an she'd much further and so that these things is what people believe that may in fact not help exit prices in fact they may eat rice that it rises can you expand on why you see cryptocurrencies falling in the future and people moving out of that space well I didn't say they will so my sense is that I as a citizen have no idea what these cryptocurrencies should be worse a really no idea it's a little bit like you and I we would print a new currency or a new banknote say a cipher a dollop banknote or 1 million italic I wrote over dot and we would restrict the number of pills that we would print to say a million or ten million or 20 million whatever and our neighbors seeing that we were able to sell these freshly printed banknotes he says that's a great idea I started my own printing machines different also something like new paper currency and so on and so forth and the crypto craze has created now more than 1,500 different occurrences and where they will all be worse anything happy to take questions I have my reservations about that now turn the one or the other have some value yeah maybe but I don't know what the value will be and if I have no idea what the value will be I'm not terribly interested to invest a large amount of money in the problem said yeah I'm not sure if you're familiar with the doctor father I think there was an academic study about mount Ghats and the price of Bitcoin going from $150 to $1,000 and it's you can google it I think it's called a price manipulation in the Bitcoin ecosystem and so long I'm a connector study about the data and not no one was you know except for the people who ran out got no one got indicted for this so my hunch is that Bitcoin traders were just simply emboldened and if you look at the concentration of who owns bitcoins there's only a thousand or so alone about 40% of the Bitcoin in the world so for them to collude together and ramp the price up and down and make learning futures now on the comm axis it's possible to make money both ways in religion yeah I don't know how much it will be worth and what I can what I have observed however and that should be a warning signal I have a house here in the north of Thailand specifically in Chiang Mai and Chiang Mai is a city that consists moat mostly of people who have no share ownership they never owned the single bond they never trade foreign exchange and there's just a few maybe you know like a handful of people that I would know that occasionally trade stocks but the bulk of people don't have any interesting stocks have no money to buy stocks and and so on they if they have money they will buy a house but all these people over the last say one year people who never speculated they are now all involved in cryptocurrencies and this is not just happening here in Chiang Mai I get emails from people in Estonia I get emails from in Hungary and to us in Korea in China everywhere in Japan they all gamble on these cryptos and whenever the public is so fully involved in one object of speculation it's always a warning signal but anyway the future will tell I don't want to say anything negative about Kryptos I don't want to say anything positive I think the blockchain technology is here to stay but it's not new this was developed to shore and I have no idea about the end value of Kryptos I suppose that 90 to 98 percent of crypto currency will be worthless but maybe the one or the other will have some value now moving on here you said you're on it if I heard you right you're bullish on gold and you think that people will move into gold and silver what is your perspective on which is better gold or silver right now from my technical indicators I was I think silver has probably the greater upside potential but I'd like to qualify my Polishness by saying I have been buying gold since the late 1980s most of the gold I bought was around $300 an ounce and I continued to buy during the pole market between 1999 and 2011 and I continued to buy I've never sold the grounds of gold for me the price where is Hiroko slower or higher doesn't change my lifestyle but I want to have some reserves that are not held in paper form and I hold some gold in Switzerland and some here in age the doctor father just to drill down on that for a minute is there a specific type of gold bullion and that you prefer I assume you know bullying outright yeah I own physical gold yet hmm and some physical but it's in coin form like Krugerrand or there are some coins issued by credit rates or so so these are type of eccentric pure gold investment investments I also got some gold shares yes but not much right it hasn't happened yet I think they are again in a range from which they could have say a 30% upside move all right well Marc Luber thank you so much for joining us today before that you go did you want to share the viewers any last thoughts you had and where we can find you online well we have a website and thank you for asking the website is called www.youtube.com/watch v lovely to have you back on again sometime you
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