Dr. Marc Faber discusses the global markets as he once did on all major business channels, at Barron's, and other mainstream print media before he was dismissed for controversial comments (see below).
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.
Racist Remarks: Faber drew criticism on October 17, 2017, after including controversial and widely criticized as racist remarks in the latest print edition of his investment newsletter.
In the October edition of Faber’s Gloom, Doom and Boom Report, he criticized "liberal hypocrites" and ongoing efforts to tear down "monuments of historic personalities." He opined that the U.S. grew successful because white people held power.
"Thank God white people populated America, and not the blacks," Faber wrote, according to an excerpt of the print newsletter obtained by Business Insider. "Otherwise, the U.S. would look like Zimbabwe, which it might look like one day anyway, but at least America enjoyed 200 years in the economic and political sun under a white majority. I am not a racist, but the reality – no matter how politically incorrect – needs to be spelled out as well." He further defended statues of Confederate figures calling them "honorable people whose only crime was to defend what all societies had done for more than 5,000 years: keep a part of the population enslaved."
Faber defended his comments in a subsequent statement to Business Insider, adding that he is "naturally standing by this comment since this is an indisputable fact".
"If stating some historical facts makes me a racist, then I suppose that I am a racist. For years, Japanese were condemned because they denied the Nanking massacre," Faber said.
Faber was subsequently asked to resign from the boards of Ivanhoe Mines, Sprott Inc. and NovaGold Resources. U.S-based Sunshine Silver Mining Corp, Vietnam Growth Fund managed by Dragon Capital, and Indochina Capital Corporation also dismissed him, Faber told Reuters. CNBC, Fox Business, and Bloomberg TV said that they do not plan to book Faber in the future. Faber continues to stand by his remarks.