Faber thinks the Chinese yuan, along with other Asian currencies, will continue to appreciate against the weakening US dollar. “We are in an Olympic game in the world to depreciate currencies,” he says.
The investor predicts emerging economies will have a larger share of world stock market capitalization, reaching 50% by 2020. He continues to advise responsible citizens to accumulate physical gold. “The US Fed, by keeping on monetizing, can force the others (central banks) to also monetize,” Faber says. He expects downside turbulence to occur in the stock markets in October/November.
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