Marc Faber, publisher of the Gloom, Boom & Doom Report, says gold and stocks make good investments now.
As for gold, “I think it might be actually less expensive than when it was at $300 an ounce in 2000,” he told Bloomberg.
And why is that?
“Because of all the money printing that has been going on and because of the increase in debt loads around the world and international reserves,” Faber said.
“As long as Mr. Bernanke is Fed chairman, gold will be a very good investment. Since he has been Fed chairman, gold has gone up by more than two times.”
As for stocks, the opportunities aren’t as good as they were last March when the markets were extremely oversold and valuations extremely depressed worldwide, Faber said.
“Now there are still some opportunities. Stocks aren’t terribly expensive when we compare them with zero interest rates.”
And, thanks to the Obama administration’s terrible policies, “Mr. Bernanke will keep interest rates at zero for a very long time and more stimulus will be needed,” Faber said. “So equities are some protection against this monetary inflation.”
Faber recommends buying stocks in Singapore, Malaysia, Indonesia, Hong Kong, Thailand, and Vietnam.
Others are bullish on gold too.
"Until the Fed reverses course on monetary policy and this government of ours can get their financial house in order," gold will keep rising, Blake Robben, a senior market strategist at Lind-Waldock, told CNNMoney.com.
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