Faber : ‘I like the concept of Bitcoin’

Posted by Marc Faber via Bloomberg

Share on Facebook

Tweet on Twitter


UnknownMarc Faber told Bloomberg in an interview that he will “never sell his gold” and that “I buy more every month.”“The momentum sell-off has caused internal market damage” and “svery asset in the world is over-inflated right now…”

Faber warns.“If one analyzes the data carefully” it is clear that “China is growing at most 4%.” Given the“gigantic credit bubble” the outlook is not hopeful as the sharp deceleration in growth is likely to continue.

Faber also has strong words for Western nations treatment of the rest of the world and “the US will have to back off.. because China is so important.”“I like the concept of Bitcoin”…  “Bitcoin has its merits since you may not be able to carry gold across borders,” Faber said.“People think they know what the future holds… and what Central banks are up to.. they don’t… I will never sell my gold and I buy more every month… I would not be short gold,” Faber said. 

…more from Marc:

Mario Draghi Easing More Important For Europe Than Emerging Economies