Other topics covered in the interview included inflation, Fed policy, and the outlook for gold and silver in 2023.
The editor of Gloom, Boom & Doom Report believes that the recession has already begun and that the situation will only get worse. Now he remembers the early 1970s. At that time, oil prices were skyrocketing from the OPEC countries, and the US Central Bank was raising interest rates. However, inflation is now higher in many countries than it was in the 1970s.
As for precious metals, Faber said he recently bought gold again. “Gold performed as expected by conservative, patient long-term investors,” said an expert with experience in the precious metals market. He went on to say the following: "The situation turned out to be disappointing, as expected by speculators, nervous day traders and greedy people."
He himself holds the gold because he wants to own his own "Central Bank". According to him, the precious metal is located at his place of residence in Thailand, as he expects that in the event of extreme crisis events, movement between countries will be limited.