Marc Faber: “The monetary policies of the US will destroy the world.”

The only thing I don’t like about Marc Faber is his ponytail. As for his analysis, he has been right on over and over. He thinks the actions of the Fed are disastrous and even said this morning that “the monetary policies of the US will destroy the world.

If you don’t know of him you might be tempted to write him off as a crank with such a statement. He is no crank. He called both the stock market bottom in 2009 and the most recent gold bottom almost right on the nose. He’s a good guy to listen to.

Some great quotes from the video below:

“Mr. Bernanke is a money printer and, believe me, if Mr. Romney wins the election the next Fed chairman will also be a money printer.”

“Kazakhstan economically is a much sounder country than the United States or any European country.”

“So, you ought to own some gold, but don’t store it in the US because the Fed will take it away from you one day.”

On the last point. The US government has taken everyone’s gold before. Be warned.