Marc Faber has a slightly chilling interview at CNBC today. The publisher of the Gloom Boom and Doom report discusses why he's "ultra-bearish on everything" and is betting on precious metals for protection. He also predicts an epic stuggle between the U.S. and China that will only exacerbate the ailing economy.
When one of the interviewers asked him "how long the western country could tolerate China's trade manipulation that takes all the jobs from the western countries?" Marc said:
"The western world will want to control China by controling the oil supply from the middle east. And then it will come to war, and in wartimes the one thing you dont want to own is U.S. government bonds. Equities will do okay...and precious metals will do pretty well."