Marc Faber: “Emerging Economies Will Be Submerging Soon; May Lead To Devaluations & Higher Gold Demand”

During a time of stagnating emerging market growth and increasing Asian gold demand, Marc Faber, Director of Sprott Inc. and Publisher of TheGloom, Boom and Doom Report, was kind enough to share a few comments.
According to Marc, “if the Chinese economy imploded, it is likely that…the government would implement a devaluation of the yuan,” leading to similar currency moves in the region.
Here are his full interview comments with Sprott Global Resource Investment Ltd.’s Tekoa Da Silva:

TD: Marc, the narrative on natural resources involves Asian demand. You live in Asia. So what’s happening on the ground there and can we rely on continued growth in the region?
MF: Well, that’s a very good question because we have an economic slowdown in emerging economies that is very pronounced and I think some emerging economies may be submerging soon, and have actually significant economic problems. Then the question arises, “Will they continue to buy gold?” Say if there was a recession in China, in the downturn, would people buy gold?

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