"Dr Doom" sees Iran-Israel clash, says buy precious metals
Written by Reuters, Wednesday, 07 March 2012
"Political risk was high six months ago and is higher now. I think sooner or later, the U.S. or Israel will strike Iran - it's almost inevitable," Faber, who publishes the widely read Gloom Boom and Doom Report, told Reuters on the sidelines of an investment conference.
Brent crude traded near $123 per barrel in volatile trade on Tuesday on fears of a disruption in Iranian supplies. Israeli Prime Minister Benjamin Netanyahu showed no signs of backing away from possible military action against Iran following a Monday meeting with U.S. President Barack Obama, Reuters reports.
"Say war breaks out in the Middle East or anywhere else, (U.S. Federal Reserve chairman) Mr Bernanke will just print even more money -- they have no option...they haven't got the money to finance a war," said Faber.
"You have to be in precious metals and equities... most wars and most social unrest haven't destroyed corporations - they usually survive," he said.
He said that Middle East markets had largely bottomed out, though regime changes from the Arab Spring revolutions were unlikely to be investor-friendly.
Faber said that in uncertain times, investors had to reconcile themselves to volatility.
"If you can't live with volatility, stay in bed," he said, pointing out that even cash.
The 66 year-old, who has earned the moniker "Dr Doom," earlier told the conference that the likelihood of war in the Middle East was boosted by Western powers' imperatives of keeping China in check, given its dependence on Middle Eastern oil.
"The Americans and the western powers know very well they cannot contain China economically.... but one way to contain China is to switch on and switch off the oil tap from the Middle East," he said.
"I happen to think the Middle East will go up in flames," he said.
Airbus Defence and Space presents TH9, its new Tetra hand-portable radio with enhanced performance
by AIRBUS Defence & Space, 25 November 2014
The Tetra hand-portable radio provides wider coverage, high output power, Bluetooth connectivity and location-based applications.
DSI successfully concludes African military contract
by Decisive Solutions International, 21 November 2014
Decisive Solutions International delivered the advisory services contract to the military of an African government six months ahead of time.
New radar ensures superiority of Eurofighter
by AIRBUS Defence & Space, 21 November 2014
Airbus Defence and Space is playing a major role in the development and integration of the Captor-E radar.
The Atlantis Group extends Aviation business depth
by Atlantis Corporation, 19 November 2014
The dedicated aviation company, known as Atlantis Aviation, will serve new opportunities in the SADEC region.
Airbus Defence and Space awarded EUR13m periscope maintenance facility for India
by AIRBUS Defence & Space, 19 November 2014
The company's Optronics business unit will deliver a periscope maintenance facility in Delhi for the Indian Ministry of Defence.
MD Helicopters awarded $5.1m logistics support contract for MD 530F primary training aircraft in service with Saudi Arabian National Guard
by Safomar Aviation, 19 November 2014
The company will support the MD 530F primary training helicopter fleet currently in service with the Saudi Arabian National Guard.