Treasuries boomed so big in 2008 that they are headed for a crash, according to Marc Faber. The editor and publisher of the “Gloom, Boom, and Doom Report” did a cal- in to CNBC’s Squawk Box this morning to say that the best place for investments these days is in hard assets and to warn that Treasuries were headed for doom after the boom.
“You want to be in gold, silver, platinum, and also oil,” Marc Faber told CNBC. “If you believe in a recovery of asset prices as a result of money printing, you should be in hard assets, particularly precious metals.”
He said he sees the money that has been locked up in Treasurys starting to rush out during the coming year. “I think the big trade in 2009 will be to go short Treasurys massively — I really mean massively — because we may not have inflation for one, two, three years,” he said.
If you must buy equities, he recommends resource companies like Freeport McMoran and Billiton.
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