Halister News

(Bloomberg) -- “I am for the first time in a long time heavier weighed in Europe rather than U.S.,” author and investor Marc Faber, publisher of the Gloom, Boom and Doom Report, says in a Bloomberg telephone interview.

• “I find at the present time that there are good opportunities in European stocks" and euro will continue to strengthen against the dollar, Faber says
• “In general I’m dismayed by the central banks monetary policies in the US, in Europe, in Japan, in Finland... The money printing exercise has been a failure in terms of lifting sustainable economic growth"
• “In my opinion in the U.S. they will launch QE4 at the end of the year. The economy in the U.S. is weakening”
• “If I look at the fundamentals of the European, American and Japanese countries, in my view there is no other option for central banks but to continue printing money”; pension funds in those countries are grossly underfunded and “they will need some kind of a bailout”
• The political situation in Western democracies is “a disaster"
• “I would argue that gold mining shares are inexpensive and Amazon is expensive”
• “Money printing” by central banks “so far has gone mainly into Apple, Amazon, Google, Tesla and these kinds of stocks and it has gone into crypto currencies like Bitcoin. But not so much into precious metals”
• “Once these precious metals move they can move very sharply and far higher. When the high priced American shares like Apple, Amazon, Tesla and crypo currencies break down then gold and other precious metals will shine”

To contact the reporter on this story: Inci Ozbek in Istanbul at iozbek2@bloomberg.net