Dr. Marc Faber on capital controls, wealth taxes, and international diversification

by Simon Black, Sovereign Man I generally try to record a podcast each week, but I fell off the wagon recently because of the big event we just hosted in Cancun. I thought there would be no better way to get back on track than to ask famed investor Dr. Marc Faber to join me for today’s episode. If you haven’t heard of Marc Faber, he’s a professional investor who runs the site GloomBoomDoom.com, and was probably most aptly described by the Sunday Times as “a blunt-spoken Swiss who says the things nobody wants to hear…” (to which I would add, “and happen to be entirely true.”) Marc was kind enough to fly halfway across the planet to come to our Global Offshore and Investment Summit two weeks ago. And now that we’re both back in our respective corners of the world, I called him up for a quick interview. As usual, his insights were spot-on. We talked about the distinct possibility of wealth taxes and capital controls, which in many respect are already with us. The ongoing and dangerously escalating war on cash is nothing more than a form of capital controls– a despicable tactic to trap people’s savings in an failing system. That’s one of the biggest reasons why Marc is an advocate for owning precious metals and diversifying internationally. This is a centuries-old tactic. The idea of keeping a portion of your assets abroad is nearly as old as the concept of government itself. And it used to be something only available to the mega-rich. But in this day and age the tactics are open to everyone. We can now move money abroad with the click of a mouse. We can establish foreign accounts without leaving town… and store precious metals overseas while sitting at home in our underwear. And these steps are important. When you consider all the different risks out there, it’s incredibly foolish to keep everything you’ve worked for, and everything you’ll achieve in the future, in the hands of a desperate, bankrupt government. I invite you to listen in to this quick interview. Marc’s insights are invaluable, and he has some great recommendations for what investors should be looking at right now. Take a listen here: AUDIO INTERVIEW HERE>>>

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