Marc Faber: Cash and Bonds Dangerous in this Environment
Marc Faber, publisher of the Gloom Boom & Doom Report, joins CNBC to discuss interest rates and the rise of gold and silver.
Faber says the Fed will keep interest rates below the rate of the cost of living increase as far as the eye can see. He argues that cash and bonds are dangerous in this environment, and suggests moving into asset classes like commodities, real estate, equities, and art.
The investor argues that gold is not in a bubble, as most investors are not buying the precious metal. Faber thinks gold is cheaper today than in 1999 when it was $252.
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