Marc Faber is interviewed on CNBC-TV18 on the 26th of September 2011.
The environment is very similar to 2008 with financing drying up, global liquidity shrinking, assets price collapsing, but the US dollar and US government bonds are strong.
He thinks industrial commodities remain vulnerable. he sees Gold and Silver increasingly perceiving as cash. He would not hold long dated US treasuries for more than 3 weeks (except as a trader).
He would try to accumulate shares on the downside in Asia.
Although not in the video above, Marc Faber also mentioned that "We overshot on the upside when we went over $1,900," and "We're now close to bottoming at USD 1,500, and if that doesn't hold it could bottom to between USD 1,100-1,200."
Please refer to my previous blog post Is it Time to Get Back into Gold and Silver? for details about the 1200 and1500 USD levels.