Marc Faber, publisher of "The Gloom, Boom & Doom Report," warns investors that he thinks there “is no safe asset anymore.”

He did, however, suggest that the mining sector shows promise for investors.

“I think that because of modern central banking and repeated monetary policy interventions, there is no safe asset anymore,” he told Bloomberg TV.

“When I grew up in the 1950s it was safe to put your money in the bank on deposit, the yields were low but it was safe. [But] nowadays you don’t know what will happen next in terms of purchasing power of money, but what we do know is it’s going down,” he said.

“I would say if I had to turn anywhere where the opportunity for large capital gains exists and the downside risk in my opinion is limited, it would be the mining sector, specifically precious metals,” Faber said.

He such such traditional commodity safe havens, such as gold, may one return to being just that.

“Commodities may still go down for a while but I don’t think they will go down forever. I would rather focus on precious metals [such as] gold silver and platinum because they don’t depend on industrial demand as much.”

He also cautioned against getting too anxious over the steady stream of negative news coming from China.

“I think China from a cyclical point of view is in a very serious downturn but from a secular point of view I think there is still tremendous growth opportunity in the long run.”

Regardless, he said emerging-market stocks may be a better value right now than American counterparts.

“In terms of relative value I don’t think emerging markets are cheap cheap but I think the return expectation I would have over the next seven-10 years by investing in emerging markets would be much higher than say U.S. stocks,” Faber said.

“The U.S. market is overhyped and expensive in terms of valuation from a historical perspective.”

Other financial experts also paint an ever darker view of the economy.

Robert Kiyosaki, best-selling author of “Rich Dad, Poor Dad,” tells Newsmax TV that the global economy has collapsed and Wall Street has been manipulated by the Federal Reserve and US Treasury.

He said the only way to survive such a treacherous and volatile investing environment is with a solid financial education.

“The global economy is in a collapse right now,” he told “Newsmax Prime.”

“Wall Street is manipulated. The Fed as well as U.S. Treasury keep propping it up,” the founder of the Rich Dad company said.

Related Stories:

• Marc Faber: Volatile Markets at 'Some Kind of Tipping Point'
• Marc Faber: China's Stock Crash Will Spread to US