-->JIM PUPLAVA: My special guest this week is Dr. Marc Faber. He’s no stranger to FSO listeners and he is also the editor of the Gloom, Boom & Doom Report, one of the best investment newsletters around, and also the author of a book called Tomorrow’s Gold.

Marc, I remember when I got into this business in 1979, and between 1980 and 81, Wall Street, investors and the Fed were concerned about inflation. We had gold at $800, oil at $40, the Dow at around 800 and interest rates at 15%. Today, we do have rising oil, but the Dow is over 10,000, PEs on the Nasdaq are close to 40, T-bill rates are in the 3% range, and everybody is worried about deflation. Is this a contrary indicator?

DR. MARC FABER: Well, we can talk about whether this is a contrary indicator later on, but first,...



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