Marc Faber, who predicted the 1987 stock market crash and the current economic downturn, has warned investors who manage billions, that they should prepare for a “dirty war” and buy farmland and gold.
The bleak warning of social and financial collapse was given in Tokyo, Japan last week at a meetup of 700 of the world’s most powerful investors.
“The next war will be a dirty war,” he told fund managers: “What are you going to do when your mobile phone gets shut down or the internet stops working or the city water supplies get poisoned?”
Underlying reasons for Dr. Faber’s advise evolved around the volatile US economy and its capacity to service an ever increasing pile of debt, evidently leading to US bankruptcy. Gloomier scenarios involved forecast of increasing military tension between the US and China over access to limited oil resources.
Marc Faber who writes the monthly Gloom, Boom and Doom report, has a tendency to make unconventional predictions – nevertheless, he has a track record of getting the right.
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