Gold Marc Faber's Favorite Currency
There is absolutely no reason to have any trust in the U.S. dollar, and as Marc Faber and others have noted, it's only the short-term growing bearish sentiment which offers any support for the greenback at all. That and the fact that other central banks haven't stopped the paper money printing presses either, keeps it from completely collapsing against its currency competitors.
Still, with the potential for that to continue over long term as the recession continues to linger on, Faber still favors gold as his favorite currency, and reminds those that aren't aware of its history that it has been used for exchange for over 6,000 years, while also stating he's not aware of any paper currency lasting longer than a few hundred years.
While Faber's doesn't consider himself a gold bug, he does acknowledge that many times gold will outperform all other financial assets like it has since 1999, but the opposite can happen with equities against gold as well.
Nonetheless, I don't see how gold as currency will be outperformed by any other paper currency in the years ahead, and anybody betting against gold's performance will probably lose over the long haul.
Gold Marc Faber's Favorite Currency
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