Alasdair talks to Marc Faber, publisher of the Gloom Boom & Doom Report. Marc discusses his 40 years of experience in capital markets and the lessons he has learned. He looks at the underlying nature of the American economy and details the problems arising since 2007. Money printing along with the insidious effects of underreported inflation is to some extent disguising the sorry state of the US economy. Faber is cautious on China, and when questioned about Cyprus and the loss of depositor funds, raises pertinent points about the problems that deposit insurance may cause and what the ramifications of the bailout conditions in Cyprus may have on otherwise conservative investors. [youtube]http://www.youtube.com/watch?v=e3_stwLAV2U[/youtube]
"if you ask me, Marc, what would you do if you receive tomorrow 1 million dollars? If I had just one choice, I would probably choose Gold."
