SubscribeMark Faber: Short Tresuries, Long Hard Assets
The editor and publisher of the "Gloom, Boom, and Doom Report" says the best place for investments these days is in hard assets, but he has some suggestions for stock-market investors, too.
"You want to be in gold, silver, platinum, and also oil," Marc Faber told CNBC. "If you believe in a recovery of asset prices as a result of money printing, you should be in hard assets, particularly precious metals."
"I think the big trade in 2009 will be to go short Treasurys massively — I really mean massively — because we may not have inflation for one, two, three years," he said.
My comment: The comment about inflation manifesting itself in higher prices in two to three years is consistent with the "No Money, No Inflation" paper written by Mervyn King several years ago. Rest assured though that the money creation will eventually lead to higher prices.
John Polomny
The Real Deal
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