The always informative Marc Faber was on Bloomberg yesterday. He discussed the Chinese yuan, gold, and stocks. He expects the yuan to appreciate by 10-20% and postulates that the global race to the bottom is heating up with the recent currency intervention by the Japanese. Likes Asian currencies such as the Thai Bhat or Malaysian currency. Emerging markets are still the place to be because they can continue to grow while developed countries stagnate. Regarding the stock market, Faber thinks the market will decline in October with the SP 500 possibly falling to around 950. Finally, Faber says he is still bullish on gold as central banks around the world print money. However, he does not know how high it will go because he does not know how much money will be printed.
September Thoughts From Marc Faber