Via the Globe & amp; Mail:
Marc Faber, the tipster markets known as Dr. Doom, resigned from his seat
of Sprott Inc. Board, Ivanhoe Mines Ltd. and NovaGold Resources Inc.
Tuesday after its latest newsletter has raised international outrage, with
the publication of a litany of racist and inflammatory comments.
Thank you God populated white America and not the blacks, wrote M. Faber,
who is managing director with the consultancy investment and management of
Marc Faber Ltd. funds in its latest monthly bulletin.
. Otherwise, the US would look like in Zimbabwe, where he could look like a
day anyway, but at least 200 years in America experienced economic and
political sun under the white majority
In the publication, M. Faber was also very critical of the removal of the
Confederate statues in the United States - an issue that has caused much
controversy after white supremacists marched in Charlottesville, Virginia,
was to protest against the city . S plans to shoot them.
The same people he wrote American liberals and # 8220; are now disturbed
by statues of honorable people whose only crime was to defend that all
companies have for over 5000 years: keep some of the enslaved population.
In the newsletter, the 71 years M. Faber said he is not racist but writes
that reality, no matter how politically incorrect, must specify.
If certain historical facts showing me a racist, then I guess I'm a
racist, M. Faber later told Bloomberg News Service in an email.
M. Faber did not respond to The Globe and Mail request for comment.
Hours after his newsletter comments were made public, asset manager Sprott
in Toronto asked Mr. Faber to resign from its board of directors, a
position he held since 2010.
The recent comments of Dr. Faber is deeply disappointing and are
completely contradictory to the views of employees and Sprott said Peter
Grosskopf, CEO of Sprott, the asset manager of precious metals, in a
statement.
We are proud to be a diverse organization and comments of this kind will
not be tolerated and # 8221.
Through a spokesman, M. Grosskopf declined further comment.
In a Tuesday statement, Ivanhoe Mines, which had employed M. Faber as
director since 2004, said he disagrees with, and deplores the views held
personally on race, Mr. Faber published. The international mining company
based in Vancouver, which was co-founded by mining financier Robert
Friedland said he had requested and accepted M. Faber's resignation.
NovaGold also announced in a statement Tuesday that M. Faber had resigned
from his position as director. He had served on the board of the
Vancouver-based company, which has a gold project in Alaska, since 2010. In
a regulatory filing earlier this year, NovaGold said he received the M.
Faber services because of his & # 8220, a vast knowledge of the economy,
global market trends, precious metals and commodities & # 8221.
M. Faber was born in Switzerland, but is now based in Thailand. He worked
as general manager of the US investment bank defunct Drexel Burnham Lambert
from 1978 to 1990. At one point, the king was Drexel Burnham junk bonds on
Wall Street.
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