Fox News spoke with Gloom Boom and Doom editor and legendary investor Marc Faber in the wake of the Brexit vote to discuss what that vote would mean for global markets.
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Marc Faber dismissed the idea that the Brexit vote would be negative for markets, saying “The markets are going down because the economic news, globally, is unfavorable. We are moving into a recession that has nothing to do with Brexit, but of course all of these economics and neo-kaynesians who intervene all the time in the free markets place, the Fed and the ECB and so fourth, they will say oh now we are in a global recession because of the Brexit. The Brexit has nothing to do with the global economy around the world. What do you think the Brexit has to do with the Chinese economy… In my view the global economy is weakening and the markets are coming around to smell it… Brexit will be the prefect excuse for central banks around the world, that as we have seen this morning and as was announced by the Fed, will coordinate their monetary policies to print more money. This will be favorable for gold, silver and platinum.”
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