The world is 'grossly underweight gold', says Marc Faber
Economist Marc Faber is warning all investors in America that
the US needs to go through a "devastating crisis" before any
recovery can begin. Most importantly, Faber says to own gold,
and to not hold gold is trusting in the government and our paper
currency.  By James McKeigue Jun 17, 2011 Money Week  Economist
Marc Faber warns investors that America needs to go through "a
devastating crisis" before a meaningful recovery can begin.
Given his Dr Doom moniker it is hardly surprising that Faber is
once-again bearish on the US economy, yet his track record
commands respect – he called both the bust and the subsequent
stock market rally.  Comparing an economy to a human body, he
tells US financial paper Barron's that "there are periods when
rest is required. In economic terms, that is a recession". Faber
thinks the economy still needs a long rest.  He points out that
America's debt problem hasn't gone away – it has just been
switched from the private to t