I was wrong on precious metals [VIDEO]

Marc Faber talks of Commodity weakness and weak commodity demand, his mistake on precious metal bottoming, Central Banks buying stocks....

Growth prospects are low worldwide markets [VIDEO]

I dont see much growth coming anywhere in the world. .......

Emerging markets have lower downside risks to US stocks

Stocks are already declining. There are now more stocks below their 200 Day Moving Average than above the 200 Day moving average. So I think in the US., the market could easily drop 20 percent to 40 percent....easily...

Now other markets, they are already down substantially such as Brazil, Emerging Markets in general so there the downside risks is lower, but I still think there is downside risks.

Marc Faber enjoys laughing

I take laughing very seriously. I usually start my day by reading the latest comments by one or other central banker, which make me laugh as much as watching Candid Camera. 

(Will Rogers: “I don’t make jokes. I just watch the government and report the facts.”)

Marc Faber warns its a Fragile situation and markets will not make new highs

As of a week ago, the U.S. market became very oversold. It's rebounding, but in my view, we're not going to see any new highs.

It's still a fragile situation. 

We have now hard evidence that the Chinese economy is hardly growing at the present time. If China slows down, the demand for industrial commodities goes down. It affects all the resource producers: Argentina, Brazil, the Middle East, Central Asia, Africa, Australia, That can have a huge impact on the global economy. 

Greece is a sideshow, because the economy is small relative to the rest of the world. But if investors are so concerned about Greece, it shows how fragile the financial markets are.

Marc Faber weighs in on Greece deal [VIDEO]

The Greece deal is good for stock market investors because all the markets are up.  My view is atleast a 50 percent haircut is needed to allow Greece to grow......

[Watch the video above for the full interview]

Marc Faber praises Chinese resilence

Western society has gone soft. People lose their jobs, they want to have unemployment benefits. They have a headache, they weren’t working. So, I believe the Asian societies, and China in particular, are very resilient. I think it’s nonsense that some people say that the Chinese society is not resilient.

Banking cartels dont care about the average person

I would hold about 25% of my assets in precious metals. I don’t know whether silver will go up more or gold but the fact is simply I want to have some assets outside the banking sector. Because the banking sector is run by an academic mafia. They are the destroyers of the purchasing power of money. The professors at the federal reserve — they don’t care about ordinary people. They are not even independent. They are ruled by someone that tells them, “you do this, you do that.” And that is largely the banking cartels.

Now other countries [outside the USA] have grown dramatically, but all I can say is I would hold some precious metals because of the central banks in the world. This is not a currency war, this is an agreement among academics and professors that do not relate to life of ordinary people to print money. The purchasing power of money will continue to decline.

We could even see QE4 [VIDEO]

[Watch the interview above from Bloomberg News - topics include Chinese stock market, US Fed possibility of QE4 and more ]

Marc Faber on Grexit [VIDEO]

Everybody in the world knows Greece cannot pay its debt at the current time. So what will happen in my view is either Greece will leave the EU and suffer very badly for a few months maybe longer.... or the EU, ECB and IMF will have to take significant haircuts [on Greece's debt] 

More downside risks than upside gains for next few months

Since the end of December 2014, US equities have traded side-ward with a few selected stocks moving up strongly while others were weak. A very mixed performance indeed. The S&P 500 is up by less than 1% for the year, the NASDAQ by 7%, but the Dow Utilities Average and the Dow Transportation Average are down by 11% and 10% respectively.

In general, I believe that the risks associated with over-extended asset prices (stocks in particular) far outweigh the potential upside potential for the next few months.   


VIA Marc Faber July 2015 Market Commentary