Marc Faber who maintains his bearish view on global markets suggests investors keep keep 20-30% of their assets in gold "in a safe deposit box ideally outside the U.S."

The publisher of the Gloom, Boom & Doom report believes the West will have a “very muted growth” for the coming decade due to deficits, entitlement obligations, and debt overhang.

Marc Faber believes that the commodities bull market is intact but in mid-term he expects gold and silver will go down for the next three-month or so. Despite his forecast, he is not shorting gold but in fact accumulating more. “Not to own any gold is to trust central bankers, and that you don’t want to do” he said on his interview with Bloomberg. See the clip below.

Consensus among five of the biggest market thinkers in economic and market prognostication is QE3 will happen sometime later this year and Fed will mostly leave the rate at zero for a long time. Fundamental

These are Swiss doom-and-gloomer Marc Faber; David Blanchflower, formerly of the Monetary Policy Committee of the Bank of England; Fred Hickey, the bearish editor of the High-Tech Strategist newsletter; Morgan Stanley exec Stephen Roach; and economic forecasters David Rosenberg, Nouriel Roubini and Gary Shilling.

In an interview with CNBC Marc Faber says money is losing its purchasing power and interest rate hikes cannot catch up with rising commodity prices, energy prices, health care and insurance premiums to mention a few. Only at Fed there is no inflation.

He says gold cannot be in a bubble when its portfolio allocation is low globally. Marc thinks gold is cheaper today than in 1999 at $252.

The top 5% are outnumbered by the poor people therefore they cannot compete in a democratic voting system. One way to get back at them is to print money to raise asset prices and increase the wealth disparity.

In his State of the Union’s address last night, President Obama called the economy "poised for progress" but also asked for five-year freeze on the government's non-defense discretionary spending to save $400B over the next decade to help with the deficit. He stressed on expanding US exports, cutting corporate tax rates, and boosting the country's global economic competitiveness. All good? He also stressed the need for investments in education, technology and infrastructure in order to spur growth.