Iraq

Major ISIS Terror Attack On France Soon?

As the “War on Terror” drags on, France could be targeted (again) by ISIS. And soon.

Consider some developments I’ve come across in my research the past several days. First, Henry Samuel reported on The Telegraph (UK) website on November 6:

French police are investigating death threats against satirical weekly Charlie Hebdo over a cartoon of Oxford scholar Tariq Ramadan, who is facing rape allegations.

The provocative magazine, which suffered a deadly jihadist attack in January 2015 after publishing cartoons of the Prophet Mohammed, depicted Ramadan its edition last Wednesday in an explicit pose, with the caption: “I am the sixth pillar of Islam.”

The five pillars of Islam are the five basic practices obligatory for believers: faith, prayer, charity, fasting, and the pilgrimage to Mecca.

A minority of Sunni scholars considers jihad, or holy struggle – which can have different meanings – to be the sixth pillar of Islam.

(Editor’s note: Bold added for emphasis)

Next, Simon Osborne wrote on the Daily Express (UK) website on November 9:

A sick propaganda poster released by the ISIS-linked Wafa Media Foundation warns of another massacre in the French capital.

The chilling poster features an image of the Eiffel Tower merged with a rifle and declares children will be targeted in a new onslaught.

It carries messages in Arabic and English saying France “will pay very expensive price for your war on Islam”.

The poster says: “We will take revenge for the blood of Muslims on your land. We will kill the young before the older watch this.”

(Editor’s note: Bold added for emphasis)

Finally, there’s the following from Riam Dalati and Quentin Sommerville on the BBC News website on November 13. They penned a piece in which “The BBC has uncovered details of a secret deal that let hundreds of IS fighters and their families escape from Raqqa, under the gaze of the US and British-led coalition and Kurdish-led forces who control the city. A convoy included some of IS’s most notorious members and – despite reassurances – dozens of foreign fighters…”:

Abu Basir al-Faransy, a young Frenchman, left before the going got really tough in Raqqa. He’s now in Idlib, where he says he wants to stay.

The fighting in Raqqa was intense, even back then, he says.

“We were front-line fighters, waging war almost constantly [against the Kurds], living a hard life. We didn’t know Raqqa was about to be besieged.”

Disillusioned, weary of the constant fighting and fearing for his life, Abu Basir decided to leave for the safety of Idlib. He now lives in the city.

He was part of an almost exclusively French group within IS, and before he left some of his fellow fighters were given a new mission.

There are some French brothers from our group who left for France to carry out attacks in what would be called a ‘day of reckoning.’

(Editor’s note: Bold added for emphasis)

“Day of reckoning.” Not good, should Abu’s claims have any credibility.

According to Reuters on November 12:

The French secret services estimate that about 690 French nationals are now in Iraq and Syria, including some 295 women. Estimates from late 2015 suggested about 2,000 French citizens had gone to fight with Islamic State.

Hopefully, all the above is just bluster. Time will tell.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Source:

Samuel, Henry. “Charlie Hebdo receives death threats over Tariq Ramadan front page.” The Telegraph. 6 Nov. 2017. (http://www.telegraph.co.uk/news/2017/11/06/charlie-hebdo-reports-death-threats-tariq-ramadan-sixth-pillar/). 15 Nov. 2017.

Osborne, Simon. “ISIS terror warning: Jihadis threaten CHILDREN ahead of Paris attacks anniversary.” Daily Express. 9 Nov. 2017. (https://www.express.co.uk/news/world/877704/ISIS-jihadis-threaten-CHILDREN-Paris-attacks-anniversary-bataclan-massacre). 15 Nov. 2017.

Dalati, Riam and Sommerville, Quentin. “Raqqa’s Dirty Secret.” BBC News. 13 Nov. 2017. (http://www.bbc.co.uk/news/resources/idt-sh/raqqas_dirty_secret). 15 Nov. 2017.

“Terrorist threat in France unprecedented, officials say.” Reuters. 12 Nov. 2017. (https://www.irishtimes.com/news/ireland/irish-news/terrorist-threat-in-france-unprecedented-officials-say-1.3289328). 15 Nov. 2017.

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Former CIA Deputy Director Warns After Nice: ‘I Think It’s Just A Matter Of Time Before We See Attacks Of This Size Here In The United States’

Here’s a worrisome prediction from a former top “spook” about future terror attacks carried out by Muslim extremists. Former CIA deputy director and current CBS News senior security contributor Michael Morell warned viewers on CBS This Morning Friday:

I think things are going to get worse before they get better. As we put more pressure on them in Iraq and Syria, they are going to have a greater incentive to conduct attacks, to inspire attacks because they want to show they’re still relevant. And as we are more successful in Iraq and Syria, all of those thousands and thousands of fighters who went there are going to start coming home. And so you’re going to see more attacks by people who went there, were trained, have military experience, come back home, conduct very serious attacks

I think it’s just a matter of time before we see attacks of this size here in the United States. I have no doubt about that. We’re going to have to adjust to their tactics. The use of a vehicle as a weapon is something that terrorists have talked about for a long time. DHS, FBI put out a report in 2010 warning of this. They’re starting to use it. That’s very difficult to defend against. So, we’re going to have to look at their tactics and respond. We’re going to have to start putting concrete barriers between the flow of vehicles and groups of people.

(Editor’s note: Bold added for emphasis)

CBS News Video

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Project Prepper, Part 45: Top 3 Threat Priorities

“As a result of my research and this blog, I’m now aware of the myriad of man-made and naturally-occurring threats to my life and lifestyle (and those of my loved ones), and think it’s probably wise to acquaint myself more with ‘prepping’ via a sustained ‘hands-on’ program of learning and doing, which I’ll call ‘Project Prepper.’

Through a series of posts on this blog which I suspect should last for quite some time (years?), I’ll be able to share my preparedness experiences with you…”

Survival And Prosperity, “Project Prepper, Part 1: It Begins,” October 24, 2012

This week’s “Project Prepper” post is going to be a little different. While I’m currently working on a number of projects related to fulfilling seven “innate survival needs” (hat tip Jack Spirko @ The Survival Podcast):

1. Physical Security
2. Financial Security
3. Water
4. Food
5. Sanitation and Health
6. Energy
7. Shelter

Today I’m going to talk about threat priorities. As a forty-something homeowner residing with my girlfriend in the suburbs of Chicago, Illinois, in 2016, “I’m now aware of the myriad of man-made and naturally-occurring threats to my life and lifestyle (and those of my loved ones).” Regular readers of Survival And Prosperity know I blog about them frequently. But from my vantage point, here are the “top 3” I’m mostly concerned about:

1. Severe Weather
2. Financial Crisis
3. Terrorism

Concerning severe weather, here in the Chicagoland area residents have to contend with spring and summer storms that can consist of high winds, torrential rain, flooding, and tornadoes. Winter can bring along with it ice storms (not too often), significant snowfall/blizzards, and brutally-cold temperatures. Consequently, structural damage, utility outages, hazardous travel conditions, and other threats to life and property accompany such events.

Case in point, prior to my girlfriend and I moving into our house in 2013, a large part of the Chicago metro area suffered significant damage from a “derecho” (widespread, long-lived wind storm) event that left many area homeowners without electricity for several days. A real nuisance for most of those affected, but potentially deadly to those with serious health issues- like my elderly father. And in case readers think I’m talking about those far-off “suburbs” of Chicago here (I remember one real estate agent referring to Rochelle- approximately 80 miles west of Chicago- as a “western suburb” during the housing boom last decade), these extended outages were taking place in near “North Shore” enclaves. I remember watching one furious Northbrook homeowner being interviewed on the local televised news, saying how he had been without power for a number of days and couldn’t understand why it hadn’t been restored yet considering the high taxes he paid to live in such a nice area. Anyway, severe weather tops the list for me. Not as “sexy”- as some would say- as preparing for the “Zombie apocalypse,” but oh well.

Financial crisis. Regular readers of Survival And Prosperity and its predecessor know I’ve been on the lookout for coming “tough times” for some years now. From this blog’s “About” page:

Back in 2004 when SP’s creator/editor Christopher Hill was surveying the economic and investment landscape in support of his own investing activities, he concluded from his own research that the United States was heading towards a financial crash. Deciding that this was something other Americans might want to know about, Mr. Hill launched the independent financial blog Boom2Bust.com, “The Most Hated Blog on Wall Street,” on Memorial Day Weekend 2007 with the purpose of warning and educating others about the approaching U.S. economic crash. He has been credited with calling last decade’s housing bubble and subsequent bust, the 2008 global economic crisis, and the “Great Recession” as a result of his work on this project. Chris wrote over 1,500 posts on Boom2Bust.com during its nearly three-year run, with many of these picked up and republished on the web sites of The Wall Street Journal, Fox Business, Fox News, Reuters, USA Today, the Chicago Sun-Times group, the Austin-American Statesman, the Palm Beach Post, and the West Orlando News, among other media outlets. Chris was also interviewed for a May 2009 MSNBC.com article as a result of his work with the blog.

Since Memorial Day Weekend 2007, I’ve stood by and watched as the bursting of the U.S. housing bubble and subprime mortgage crisis was quickly followed by carnage on Wall Street in the autumn of 2008 and a “Great Recession.” I also observed how the Washington politicians and the Fed responded by “papering up” the mess with massive government and central bank intervention. But as everyone knows, you can only “kick the can down the road” so far. And my concern is that the road is rapidly coming to an end. Visit this blog often enough and you might get that sense as well.

Consequently, I’ve come to believe that the U.S. financial crash I still see headed our way won’t be like an airplane that suffers a sudden, catastrophic failure and plummets back to Earth like a rock. Rather, taking into account the abilities of the federal government and central bank to keep the aircraft aloft for quite some time, the crash may be more akin to a slow- yet-unavoidable descent into the ground. At which point, Americans might be left pondering what had happened to them, just like Argentines did after their economy crapped out in the early 2000s after prosperous times.

Making matters worse is the fact that I still reside in Cook County and Illinois, whose financial troubles are well-publicized. While I’ve left Chicago, I still haven’t made Wisconsin my permanent home address.

When the “balloon goes up” locally and nationally, I suspect everyday living is going to get particularly gritty around these parts.

As terrorism is concerned, post-9/11 I found myself working in the public safety field. As part of my duties at a local fire department, I catalogued potential terrorist targets in the area in the hunt for money to upgrade the agency’s response capabilities. It was my belief that the threat was real then, and it remains so today. Even more so in 2016, as U.S. border security is quite suspect at a time when those who would wish to harm the “homeland” continually make their operational capabilities and future desires for wreaking death and destruction known.


“Border Patrol Admits US Citizenship Doesn’t Matter”
YouTube Video

Like I’ve repeatedly said before on this blog, I believe it’s only a matter of time before the United States suffers terror attacks possibly resembling what occurred in Beslan (Russia) in 2004, Mumbai (India) in 2008, and more recently in Paris and Brussels. And a terrorist strike rivaling or even surpassing the carnage of September 11, 2011, is not out of the question as far as I’m concerned. New jihadists continue to replace their fallen predecessors in this “War on Terror,” and the religious duty of killing “infidels” remains the same. On May 6, 2011, I wrote:

In 2005, Dr. Paul L. Williams, a journalist and author, published the book The Al-Qaeda Connection, in which he discussed plans for a future nuclear terrorist strike, dubbed “American Hiroshima.” He wrote:

Bin Laden asserts that he must kill four million Americans- two million of whom must be children- in order to achieve parity for a litany of “wrongs” committed against the Muslim people by the United States of America. The “wrongs” include the establishment and occupation of military bases between the holy cities of Mecca and Medina in Saudi Arabia, the support of Israel and the suppression of the Palestinian people, the Persian Gulf War and the subsequent economic sanctions, and the invasions of Somalia, Afghanistan, and Iraq…

(Editor’s note: Bold added for emphasis)

These days, the Islamic State has stolen the headlines from Al-Qaeda and other Muslim extremists. But such religious fanaticism as a whole remains a top concern for me.

Severe weather, financial crisis, and terrorism are natural and man-made threats that register the most on my radar. But this doesn’t mean I discount other potential dangers to life and property either (pandemic, severe space weather, and war would probably be the next three on the list). As such, an “all-hazards” approach is emphasized in my “Project Prepper” activities.

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Islamic State Preparing Terrorist Attacks On Europe, Russia?

This last day of the blogging week I’ll be turning away from economics/finance/investing and focusing on terrorism. The latest warnings include Europe/Russia possibly being in the jihadist’s crosshairs. From the Agence France-Presse (AFP) Monday:

The Islamic State group has honed the ability to launch global attacks and is set to focus more on Europe following the Paris massacre, the chief of the EU police agency Europol said Monday.

Rob Wainwright told a news conference that “the so-called Islamic State had developed a new combat style capability to carry out a campaign of large-scale terrorist attacks on a global stage — with a particular focus in Europe.”

“So-called Islamic State has a willingness and a capability to carry out further attacks in Europe, and of course all national authorities are working to prevent that from happening,” he added.

Wainwright was unveiling the findings of a new Europol report on changes in how the jihadist group operates…

“IS is preparing more terrorist attacks, including more ‘Mumbai-style’ attacks, to be executed in member states of the EU, and in France in particular,” the Europol report said.

“The attacks will be primarily directed at soft targets, because of the impact it generates. Both the November Paris attacks and the October 2015 bombing of a Russian airliner suggest a shift in IS strategy towards going global.”

IS had developed an “external action command” which was trained for “special forces-style attacks” internationally, the report said…

(Editor’s note: Bold added for emphasis)

“‘Mumbai-style’ attacks.” Something I’ve talked about before on Survival And Prosperity.

The Russians are sounding the alarm over potential ISIS terror strikes as well. From RT.com this morning:

Islamic State cells led by Chechen recruiter Akhmed Chetayev are planning terrorist attacks in Russia and Europe, Moscow’s National Anti-Terrorist Committee reported. Former Iraqi army officers are taking part in training terrorists to attack Russia, it added.

“Russian special services have intelligence that certain IS groups are preparing terrorist attacks in Russia and European nations,” Andrey Przhezdomsky, spokesman for the Russian National Anti-Terrorist Committee, warned on Friday. “In particular, a battalion formed mainly from recruits from North Caucasus headed by Akhmed Chetayev, nicknamed One-Handed.”

Chetayev’s group reportedly includes dozens of people born in Russia’s southern republics who traveled to Syria to join the ranks of Islamic State (IS, formerly ISIS/ISIL).

The official added that former Iraqi army officers who served under Saddam Hussein are training the terrorists…

(Editor’s note: Bold added for emphasis)

Caucasian jihadists? I’d heard the bad guys were looking for these as their appearance might help them “fly under the radar” (no pun intended) of existing counter-terrorism setups.

Stay safe…

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Sources:

“IS planning for ‘large-scale’ attacks on Europe: Europol.” Agence France-Presse. 25 Jan. 2016. (http://news.yahoo.com/planning-large-scale-attacks-europe-europol-002121327.html). 29 Jan. 2016.

“Special ISIS cells preparing terror attacks in Europe and Russia – Russian anti-terrorism body.” RT. 29 Jan. 2016. (https://www.rt.com/news/330556-isis-terror-europe-russia/). 29 Jan. 2016.

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Al-Qaeda Chief Calls On Young Muslim Men To Attack America, Allies

On Sunday, the Daily Mail (UK) website ran two terrorism-related pieces which might be of interest to Survival And Prosperity readers. Imogen Calderwood reported:

The leader of Al-Qaeda delivered a sinister message to young Muslim men in the United States and other Western countries, encouraging them to carry out attacks in their home countries.

Terror leader Ayman al-Zawahiri makes the call to arms in an audio recording that was posted online on Sunday…

‘I call on all Muslims who can harm the countries of the crusader coalition not to hesitate,’ he said in the recording, referring to the nations making up the Western-led coalition in Iraq and Syria.

‘We must now focus on moving the war to the heart of the homes and cities of the crusader West and specifically America.’

The leader suggests Muslim youths take their inspiration from Tsarnaev and the Kouachi brothers, who carried out the Boston marathon bombings and the Charlie Hebdo shootings in Paris respectively…

(Editor’s note: Bold added for emphasis)

Future terror attacks in the mold of Boston and Paris concern one top spy who recently retired. Keiligh Baker reported later Sunday:

The former head of MI6 has warned that it is just a matter of time before terrorists hit the West and claimed Britain would no longer be able to safeguard another massive event like the Olympics.

Sir John Sawers stepped down last year after five years as chief of the UK Secret Intelligence Service, MI6, a post known as ‘C’ in the service…

Today, in an interview on CNN’s Global Public Square, he said the risk of a terrorist attack hitting the West has grown substantially since he stepped down from the role

Sir John said the way terrorists carry out their heinous attacks has changed drastically since the emergence of ISIS.

‘They’re not trying to fly airliners into buildings. They’re doing simpler things,’ he said.

He cited examples such as the massacre at French satirical magazine Charlie Hebdo in January, which saw brothers Saïd and Chérif Kouachi force their way into the building and kill 11 employees and another man, a police officer, outside the building.

He said as an intelligence service these sort of attacks are a lot harder to prevent…

(Editor’s note: Bold added for emphasis)

Sobering reading.

I’m still convinced a major terror attack by Muslim extremists on the U.S. homeland (more complex than what was perpetrated by the Tsarnaev and Kouachi brothers) is headed our way.

Growing hatred of the United States because of our continued presence in the Middle East, poverty, continued radicalization of the young and more “moderate” Muslims, porous borders, rampant political correctness, gun “control,” and limits to our nation’s counter-terrorism capabilities all come to mind when I contemplate such an incident.

But what can someone like you or me do in the face of such danger? Is there anything that can be done?

More on that next time…

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Sources:

Calderwood, Imogen. “Al Qaeda leader calls on young Muslim men in the US and the West to copy Boston Bombers and Charlie Hebdo killers with more homegrown attacks.” Daily Mail. 15 Sep. 2015. (http://www.dailymail.co.uk/news/article-3232767/Al-Qaeda-leader-calls-young-Muslim-men-West-copy-Boston-Bombers-Charlie-Hebdo-killers-homegrown-attacks.html). 13 Sep. 2015.

Baker, Keiligh. “Terrorists WILL hit the West and UK would not be able to safeguard another Olympics, warns former MI6 chief Sir John Sawers.” Daily Mail. 13 Sep. 2015. (http://www.dailymail.co.uk/news/article-3232834/UK-not-safeguard-Olympics-warns-former-MI6-chief.html). 15 Sep. 2015.

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Complacency Over Next Terror Attack By Muslim Extremists

FBI, CIA, NSA all say no 9/11 terror threat

The directors of the FBI, CIA and the National Security Agency said Thursday they have seen no specific or credible threat to the American homeland in connection with the 14th anniversary of 9/11 — despite a surge of digital and audio propaganda circulated in recent days from both al Qaeda and its growing rival on the global jihadi stage, the Islamic State…”

The Washington Times, September 10, 2015

On the eve of the 14th anniversary of the September 11, 2001, Al-Qaeda terror attacks, I detect an abundance of complacency in the U.S. concerning the next attack by Muslim extremists. For example:

Since September 11, Threat of Terrorism Has Morphed

Bin Laden’s distant dream of a caliphate in lands cleared of Western influence is being reshaped by the Islamic State, which exercises terror very differently, with less interest in attacking the ‘far enemy’ of the West than in creating a Salafist revolutionary regime…”

-Steven Erlanger, The New York Times, September 10, 2015

Does 9/11 really still have to be a ‘national emergency’?

As memorable and as meaningful as the 9/11 attacks were, they were also 14 years ago… virtually all the al-Qaeda leadership who planned the 9/11 attacks are dead or in custody, and while the long convoluted plotline of post 9/11 war and conflict has created an ongoing mess in the Middle East, any lingering threat to what was billed ‘the homeland’ — and the vigilance needed to stop it — is in a much, much better place than it was in 2001…

So what good comes of declaring a ‘national emergency,’ year after year?”

-Will Bunch, The Philadelphia Inquirer website, September 10, 2015

This is the wrong time to cut the city’s anti-terror funding

Alarmingly, funding is slowly decreasing for New York City under the ‘Securing the Cities’ program, which helps first responders detect nuclear materials and prevent attacks. The initiative deploys radiation-detection capabilities to the region’s law-enforcement agencies to identify illicit radiological materials that could be used for an attack.

This type of work requires sophisticated equipment and constant training — both of which are expensive but plainly worth the cost. Yet the Obama administration has proposed repeated cuts to the program, this year requesting only $10 million compared to historic levels of nearly double that amount…”

-U.S. Representative Dan Donovan (NY-11th), New York Post, September 10, 2015

Consider what Rudy Giuliani, the former mayor of New York City at the time of the 9/11 terror attacks, wrote on The Wall Street Journal website Thursday:

It would be a mistake, however, to conclude that 9/11 is now simply a part of the nation’s history, like Pearl Harbor. Because there is one big difference. The causes and hatreds that created 9/11 are still with us, and the terrorists have enlisted members who are even more diverse, cunning and determined. The Islamist terrorist war against us continues. This is not a matter of history but of current and future threats…

Now, once again, the terrorist attacks under the banner of jihad are increasing and diversifying. With so many such attacks and thwarted attacks over the past five or six years, we must recognize that “they”—those who want to destroy civilization—are continuing the war against us.

Yet those running our government seem to be in an even greater state of denial than the nation was in during the period before Sept. 11. Now, instead of bin Laden, Iran’s supreme ayatollah has declared that he wants to destroy Israel, to continue to kill Americans and to establish an Islamic empire including Iraq, Syria and Yemen—and the terrorist groups Iran supports. At the same time, the group known as Islamic State, or ISIS, has declared a caliphate seeking the destruction of Christianity and other infidels, and now occupies key areas of Iraq and Syria.

As we reflect on the attacks of Sept. 11, 2001, we must remind ourselves that all the wickedness underlying those attacks still exists and has expanded. We may very well be in more jeopardy now than before 9/11. Attacks such as those at Fort Hood, the Boston Marathon and similar incidents in Europe and around the world reveal that many enemies, not just one, are united in purpose: the destruction of our way of life. Each of these attacks may be more limited than the coordinated terrorist assault on Sept. 11, but they are frequent and hard to anticipate, causing widespread fear, the ultimate goal of terrorism.

We must acknowledge this war being waged against us, increase the military’s capacity to deal with it and, most important, train police to recognize the precursors of terrorist acts. U.S. military and intelligence capacity must not be drastically cut as proposed by this administration. It should be quantitatively increased and strategically improved…

(Editor’s note: Bold added for emphasis)

Just as I’m convinced a financial crash is coming to our shores, I’m sure another terror attack will be perpetrated by Muslim extremists.

Concerning both, it’s just a matter of “when.”

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Sources:

Taylor, Guy. “FBI, CIA, NSA all say no 9/11 terror threat.” The Washington Times. 10 Sep. 2015. (http://www.washingtontimes.com/news/2015/sep/10/fbi-cia-nsa-all-say-no-911-terror-threat/). 10 Sep. 2015.

Erlanger, Steven. “Since September 11, Threat of Terrorism Has Morphed.” The New York Times. 10 Sep. 2015. (http://www.nytimes.com/2015/09/11/world/europe/9-11-anniversary-terrorism-europe.html?_r=1). 10 Sep. 2015.

Bunch, Will. “Does 9/11 really still have to be a ‘national emergency’?” The Philadelphia Inquirer. 10 Sep. 2015. (http://www.philly.com/philly/blogs/attytood/Does-911-really-still-have-to-be-a-national-emergency.html). 10 Sep. 2015.

Donovan, Dan. “This is the wrong time to cut the city’s anti-terror funding.” New York Post. 10 Sep. 2015. (http://nypost.com/2015/09/10/this-is-the-wrong-time-to-cut-the-citys-anti-terror-funding/). 10 Sep. 2015.

Giuliani, Rudolph W. “The Islamist Menace Shadowing This Sept. 11.” The Wall Street Journal. 10 Sep. 2015. (http://www.wsj.com/articles/the-islamist-menace-shadowing-this-sept-11-1441929416). 10 Sep. 2015.

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Must-Read Marc Faber Interview

Regular readers of Survival And Prosperity know on Sundays I try and blog about the latest investment activities/recommendations of the “crash prophets”- Marc Faber, Jeremy Grantham, Jim Rogers, and Peter Schiff. This week, three of the “prophets” are sounding off. First up is Marc Faber. An interview of the Swiss-born investment advisor/money manager was published Friday on the website of MarcoPolis, a Paris-based international online publishing company. Johnnes Maierhofer and Peter Matay conducted one of the most comprehensive interviews of Dr. Faber I’ve ever come across, writing on MarcoPolis.net:

In this exclusive interview with Marcopolis.net Marc Faber covers it all: from commodities and China to the outlook on inflation, the Euro and gold. According to him the global economy is not healing. To the contrary, we might find ourselves back into recession within six months or a year. In that case he expects more money printing by central banks, which eventually could lead to high inflation rates and renewed strength in commodity prices.

On the bright side, he sees great economic potential in Vietnam. Also, the Iraqi stock market has good potential now that a deal with Iran has been reached. While mining stocks are extremely depressed we might see defaults before any meaningful recovery…

Followers of Faber know he’s been a gold bull for years now. The publisher of the monthly investment newsletter The Gloom Boom & Doom Report said this about the precious metal (and other investments of his) during the exchange:

I own gold and it doesn’t worry me that it went down because as I mentioned to you I have this diversification, the bonds in US dollars and the cash in US dollars has been a good investment essentially over the last twelve months. Then I own equities and I own properties in Asia that have been reasonably good investments so the fact that gold is going down doesn’t worry me and I buy every month a little bit but I think on this weakness I will increase the position substantially because I had maybe say 25% in gold but because equities and properties went up, the dollar went up and gold went down, the allocation to gold is no longer 25% but maybe only 10 or 15%.

So then I have to stock it up again. But I would say an individual should definitely own some physical gold…

“Doctor Doom” believes gold confiscation is a possibility, and added later in the discussion:

I think they will take the gold away and go back to some gold standard by revaluing the gold say from now 1000 dollars an oz. to say 10,000 dollars an oz…

A “must-read” interview for Faber followers, which you can access in its entirety on MarcoPolis.net here.

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein)

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