Stansberry Research, Released on 7/31/23

Since the start of 2023, the U.S. Dollar Index has declined nearly 2% as a result of foreign adversaries aiming to unseat the dollar as the world’s reserve currency. Joining the Daniela Cambone show today, Marc Faber believes this de-dollarization trend could reshape the global economy as countries around the world embrace alternative currencies. “the system should not be a system where you have a global currency like the dollar was. As in, the basis [is] we have many different currencies and that people trade freely with each other.” Marc also believes that the Federal Reserve is in no rush to bring inflation down to its 2% target rate. He says, “Their interest is to maintain the financial market at the highest level. They don’t want deflation in financial assets and if they could, they would also prevent deflation in real assets like properties but this is difficult to control.” He concludes by stressing that it’s crucial for investors to recognize how the de-dollarization trend signals a massive shift in the global economy in order to understand how to navigate today’s market uncertainty.

00:00 Marc Faber Introduction
2:20 – U.S. Debt & The Latest Fed Decision
8:30 – ECB & U.S. Banks
12:45 BRICS Gold Backed Currency
16:01 RFK Jr’s US Dollar Proposal
21:27 What Change Will be the Death of the Dollar?
23:59 What to Expect from the 2024 Presidential Election
26:53 Marc’s Concerns of a “Break” in the System
30:20 Marc’s Warning to Cryptocurrency Investors

Dr. Marc Faber was born in Zurich, Switzerland and obtained a PhD in Economics at the University of Zurich. Between 1970 and 1978, Dr. Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In 1990, he set up his own business, Marc Faber Limited which acts as an investment advisor and fund manager. Dr. Faber publishes a widely read monthly investment newsletter, “The Gloom Boom & Doom Report,” which highlights unusual investment opportunities, and is the author of several books including Tomorrow’s Gold: Asia’s age of discovery which was a best seller on Amazon. Dr. Faber is known for his “contrarian” investment approach and charismatic personality. He became infamous after calling the 1987 crash in US equities.

  Crypto, dollar, gold, inflation, investing