the value of the US dollar will be precisely its intrinsic value namely ZERO

17 Apr 2011 Dr. Marc Faber on CNBC to discusse the outlook for the U.S. dollar and how that will impact the price of gold and silver. Marc Faber editor & publisher of The Gloom, Boom & Doom Report : outlook for the U.S. dollar and the impact on gold and silver prices
Marc Faber : I think you are right in saying that we are in a contest for the ugliest currency , but I disagree with the fact that people are heavily positioned in Euros , I have a lot to do with very well to do people around the world , Latin Americans US citizens Europeans Asians i would say most of them have at least 70 to 80 percent of their money in US dollars now occasionally the market participants the speculators may be heavily in the Euro and negative about the US dollar but by in large there a huge over hand of US dollars globally and I'll tell you if people could sell their dollars and move to something they believed in they would do it , but I believe that the best currency is still gold and silver and this is not the perception of most people they think that gold and silver are speculative investments "
"I think that conceivably the US dollar here could rebound but I maintain my longer term projection , the value of the US dollar will be precisely its intrinsic value namely ZERO precisely ZERO , yes I told you two years ago and I still maintain that "



Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.