Investor Pundit Thanks God ‘White People Populated America, and Not the Blacks,’ Banned by Networks

Marc Faber can cross “TV pundit” off of his résumé, along with board appointments.

REUTERS

Marc Faber, an influential Swiss investor and guest commentator on markets for decades, is known as “Dr. Doom” for his bearish forecasts on stocks.

Faber’s recent racist pontifications on the colonization of the United States, the intelligence of Africans and the far-right movement, just to name a few, has resulted in Bloomberg Television, CNBC and even Fox Business Network stating on Tuesday that they will no longer book him.

In the Oct. 3 installment of “The Gloom, Boom & Doom Report,” a 15-page investor letter, he wrote:

“And thank God white people populated America, and not the Blacks. Otherwise, the U.S. would look like Zimbabwe, which it might look like one day anyway, but at least America enjoyed 200 years in the economic and political sun under white majority.

“I am not a racist, but the reality — no matter how politically incorrect — needs to be spelled out as well. (And let’s not forget that the African tribal heads were more than happy to sell their own slaves to white, Black and Arab slave dealers.)”

Subscribers to Faber’s investor letter scanned his comments and posted them on social media.

In defense of his statements, he told MarketWatch on Tuesday, “I am not saying it would be better. I am just saying that progress would not have been the same.”

When asked why “progress” would be worse, Faber said: “Europeans brought science to America. They brought technical skills. … I am not sure the Africans would have done that.”

In regard to technology and Africa, research by Clapperton Chakanetsa Mavhunga, an associate professor of science, technology, and society at MIT, offers important information. Mavhunga edited the anthology “What Do Science, Technology, and Innovation Mean from Africa?” which explains that science and technology in Africa is not product of “technology transfer” from elsewhere but as the working of African knowledge.

Science Magazine recently published an article on the book, stating: “Eurocentric assumptions about the history of science and technology, entrepreneurship, epistemology, and scientific methodology are directly challenged in this scholarly collection of essays that masterfully document the historical and contemporary scientific contributions of Africans.”

According to Bloomberg, also in Faber’s racist investor letter, “in between quotes from George Orwell and historian Edward Gibbon and his opinions on universal basic income,” he addressed far-right movements.

“Far-right movements are gaining traction across Europe and the U.S. On Sunday, Austrian voters paved the way for a nationalist party to enter government in an election upset. Last month, Alternative for Germany won enough seats in parliament to become the legislature’s third-largest party. After protesters met white supremacists with torches at a march in Charlottesville, Virginia, in August, President Donald Trump faced criticism for saying there were ‘very fine people on both sides.’”

Faber included President Donald Trump’s response to the deadly white supremacist rally on Aug. 12 with the status of several far-right movements in Europe. While campaigning for the U.S. presidency, Trump praised the success of the 2016 Brexit referendum — the vote for the withdrawal of the United Kingdom from the European Union — that was heavily embraced by the far-right movement. World renowned British theoretical physicist Stephen Hawking said in March the majority vote by Britons for the referendum was a “short-sighted,” knee-jerk reaction to increased Eastern European migration.

Hawking also described Trump voters as “people who felt disenfranchised by the governing elite in a revolt against globalization.” He said Trump’s priority “will be to satisfy his electorate, who are neither liberal nor that well-informed.”

And that under the new administration, “I fear that I may not be welcome in the [United States],” Hawking said.

In addition, Faber also argued against the removal of confederate statues in the U.S., stating they are “statues of honorable people whose only crime was to defend what all societies had done for more than 5,000 years.”

Faber said he should be able to express his views without “immediately being condemned.”

“If you have to live in a society where you cannot express your views and your views are immediately condemned without further analysis and analysis of the context in which [they’re written] — if you can’t live with that, then it is a sad state of where freedom of the press and freedom of expression have come,” he told MarketWatch.

Not only have TV networks shunned the investor, he no longer sits on at least two boards — Sprott Inc., and NovaGold Resources Inc.

Sprott Inc., a Toronto-based investment management firm, sent Faber an email on Tuesday asking for his resignation.

“The recent comments by Dr. Faber are deeply disappointing and are completely contradictory with the views of Sprott and its employees,” Sprott Chief Executive Peter Grosskopf said in a statement. “We pride ourselves on being a diverse organization and comments of this sort will not be tolerated.”

Late Tuesday, NovaGold Resources announced the departure of Faber from its board of directors, effective immediately.

“If stating some historical facts makes me a racist, then I suppose that I am a racist,” Faber told The Financial Times. “For years, Japanese were condemned because they denied the Nanking massacre.”

Read more news @ DiversityInc.com

Recommended Articles

39 comments

Leave a Reply

*Your email address will not be published


    • The only difference is that a “racist” feels the need to denigrate other cultures and races in order to lift up his/her own.

      Reply
      • What heritage is whiteness, what heritage enslaves, rapes, beats, steals land from natives and then says you are superior . Heritage is about love of something not the hate of the other .

        Reply
        • The other damage, not mentioned often enough – is what it does to people when their society structures are designed from the perspective of conquerors – resulting in changing the ways local people had been self-organizing. Africa was a country where women held influence in families and villages, working together across gender and generations, in warmer weather is somewhat easier.

          But Europeans divided Africa into separate countries, based on maps made in London – paying inadequate attention to prior ways local people divided and organized activity. This blindness from distance, destabilizes, breaks up families, draws town boundaries that ignore natural barriers like mountains or rivers – suddenly the political, economic and organizational activity in Africa, was run by the British and foreigners.

          It is sad that they did not learn what Gandhi learned, after his education in England: don’t make changes or try to teach, until you have spent a year traveling the country, learning about the amazing adaptations that local citizens have been devising all along. After you have marvelled at the resourcefulness, what you teach will have different content and be more acceptable to work WITH people, not impose distant ideas that belittle them, while also destabilizing and destroying their past ways that were effective. We cannot work with people if we don’t take time to get closer and learn from them.

          Reply
  • He needs to read Africa’s Gift to America and a whole lot of other stuff. Perhaps that is the whitelash that elected Trump? Not just the anger that a Black man was President for eight years but that all of their “white” mythology is now exposed as false? To be forced to acknowledge that other races are smart, human and capable too instead of what they have always chosen to believe must be terrifying to white people, you know? They have to face the Black people contributed to this country and invented things and that many of the systems were deliberately designed so Black people cannot prosper and to make sure whites always had an advantage? I would feel compassion but I can’t. I think this awareness is a good thing though – for both groups. I am not as angry at them about the hatred and attitudes as a result and I am happy the truth is coming forward – Black people need to know those things as well. How much are we victimized by the mythology too?

    Reply
    • CHARITY DELL

      TERRI–Faber is a poster child for what happens when you worship racism…you become:

      CONFUSION CONFOUNDED

      Racism is a dead-beat god with a dead-beat future.
      Those who worship it are robbed of reason, and eventually life itself.
      How NOT to live, enslaved to the god of racism…and how pitiful to die for it!

      Reply
  • So basically he is saying that it is a sad world if you do not accept his racist so called facts? Some people think that spewing foolishness makes them not politically correct and they say that as if it is a good thing. When really it just makes them foolish.

    Reply
    • CHARITY DELL

      JOHN–The fact that you question Faber means that you
      have already “moved forward.” Alt-Right Dinosaurs
      live in the Late Cretaceous era. Dinosaurs don’t
      be readin’ no history books. That’s what it iz. :-)

      Reply
  • So what about “FREE SPEECH” as it apply with Mr. Faber huh? And is this a racist statement: “Hawking also described Trump voters as “people who felt disenfranchised by the governing elite in a revolt against globalization.” He said Trump’s priority “will be to satisfy his electorate, who are neither liberal nor that well-informed.” So I supported and voted for President Trump and I am not well – informed? Then “statues of honorable people whose only crime was to defend what all societies had done for more than 5,000 years.” So what is not true about this? Faber said he should be able to express his views without “immediately being condemned.” Faber Liberals can but apparently you can not.

    Reply
    • “Free Speech” protection has nothing to do with this guy keeping a job as a pundit.

      He is “free” to spew his nonsense, and the private sector is “free” to not subsidize him.

      It would be different if the Government was censoring him…… That would be a “free Speech” issue.

      Personally, I’m glad that he has the right to free speech. It makes it really easy to identify who he really is.

      Reply
    • @pianki says – And is this a racist statement: “Hawking also described Trump voters as “people who felt disenfranchised by the governing elite in a revolt against globalization.”
      A Trump voter is now a race? I mean I know he thinks so and the orange tinge is unique but I wouldn’t classify it as a ‘race’. I’m guessing on applications he just checks ‘other’

      Reply
    • PAINKI, you should drop the “KI”, because your just an uninformed PAIN! More importantly, there is so much true court info out there on T-rump for you to read, but you refuse to read it. You’re just a PAIN!

      Reply
    • He was allowed to express his views. He is just experiencing the consequences of doing same. And the answer your question as to what is not true about ” “statues of honorable people whose only crime was to defend what all societies had done for more than 5,000 years,” the only part that is true is “statues of…people.”

      Reply
  • It is funny how racists bring out their dirty racism and prejudice qualifying with ‘I am not a racist’.

    Reply
  • He has the right to express his opinion; we and others have the right to respond to those opinions. He may not like the response but he’s the one that started the (misguided, highly racist) conversation. In reality, there were and are achievers and contributors from many ethnic groups that contributed to the making of the US. Many were enslaved, oppressed, disenfranchised and marginalized right out the gate. Many rose above their circumstances. Clearly, he’s not able to live with that reality so wants to distort and bend history to fit his own agenda.

    Reply
  • CHARITY DELL

    The North American continent was ALREADY POPULATED by hundreds of nations of INDIGENOUS PEOPLES before
    the European colonial conquest of the 1500′–1800’s! And that includes ancient African populations that got here…look at
    those Olmec heads in Mexico…..ancient peoples in the Americas produced some stunning architectural marvels.

    Faber needs to read a history book.

    Reply
    • Charity, thank you for this important reminder. I always feel a little sick when I hear/read about some white person (I am white, btw) crowing about how “we” colonized America.

      Hell-O! Europeans weren’t here “first”! (What is “first,” exactly, anyway? I’ve never quite gotten that, considering that humans evolved all over the planet …)

      Reply
      • Charity Dell

        HIERAN–It’s 2017, but too many folks live in 1444.
        And yes, since all humans are descendants of Africans and
        human diasporas are planet-wide, it is safe to say that
        Africans and their descendants were “the first people”
        anywhere! But lots of folks have never heard about
        the human genome project.

        Reply
  • Why is it that at every turn whites in positions if power take pot shots at Africans? When Europeans know, if you’re honest, your people had no culture, science, mathematical genius at all – oh, and you knew nothing of medicine. In the mean time throughout history you have been and still are an aggressive and violent people. That aggression has damaged every corner of the earth – the world may never get to know what the world would have evolved into with Black and Brown contributors – you ensured devastation every place you stepped foot. You’ve stolen religions, and cultures so who is this guy talking to? Oh, I forgot, the White Global Nationalist – who are running scared that they are a minority and need to stay in charge. Most Blacks in this country don’t give a crap about your statutes -but what it does show, is guilt. What people like this guy need to understand is no matter what devious heinous acts you create to destroy people because of the color of their skin or your ignorance and stupid assumptions that you are the more intelligent than people of color, just take a look at all you created and see who is now more affected – thru everything we are still here! Rape, murder, many attempts at genocide, drugs, guns, suicide, abortions, eugenics galore. Pay attention we’re still here strong in numbers as ever, and the nationalist who know pure white doesn’t exist is losing control and scared to death. Because history teaches…
    IJS

    Reply
  • This world view expressing ignorance learned from vast distance, is not new – it is something that Americans did not think much of, I think, in the days before social media. But growing up in Canada, I was accustomed to the views assumed by white populations without close experience – following media and science and one sided history, they made judgments about competence. I was taught the same – seeing African decendants as the opposite pole opposite “law and order”. Arriving in Boston as an immigrant in 1967, I was taught – as was every other white immigrant, maybe more – which were the danger areas of the city – and those were always the Black areas.

    I did not pay much attention, until I got my firsthand experience as a white person embedded in Black settings – as a bus driver in Boston Desegregation. It took me a bit of time to recognize that all my liberal theories and assumptions of the past, were mis-applied – I found the students I drove to be innovative, creative, responsive, open without the secrets that permeate white cultures focus on quiet and privacy – I found the whole bus usually knew what was going on, and when treated with interest, curiosity, respect and some indications, non verbally, of goodwill and wish to follow conversations or communicate any expectations I needed to convey – that their good humor extended to me, and for the first time, in most of my life, I did not feel alone and lonely – I found my days interesting and active. I came to see the fundamental support for innovation that is part of this culture’s non-written legacy: the world copies it, enjoys it, buys and sells it – does everything except recognize the group patterns that support growth with kindness.

    Nobody thrives when the whole world around them approaches them with instant suspicion, mistrust and doubt – let alone direct harm and rule by threats of violence, as whites in America did to Blacks, institution of slavery and scorn that was magnified and perpetuated because of instant visibility of difference, unlike most other immigrant cultures. In our focus on the harm, we have ignored the impact of centuries of world assumptions that devalued, ignored and never got to know, African American cultural strengths and life lessons for us – through participation.

    Reply
    • Cassie, your statement is incredible! I’ve never encountered such a beautiful assessment, and you should share it elsewhere too. Many eyes should be so privileged to see this!

      Reply
    • Please share this – please. It is what people like you and we have always known but it needs to be shared! I wish I could paste it on my facebook feed and give you credit!

      Reply
      • Hi Terri,

        Thanks for the push, it is my goal to write, add the pieces I learned, to the important information sharing/upheaval, so necessary and so long delayed. I’d love to have you put it on your Facebook page and give me credit, My last name is Quinlan. I’m just learning to develop my own website – crossculturalsystems.com. Otherwise, I’m not sure where to put it, I’m happy to learn. I speak when I hear others, but my goal is to add pieces that matter in this country, many pieces that add truth, and with compassion also.

        Reply
    • I cannot match your eloquence, Cassie, but I had a similar awakening, during my first job after college. I was the “White token” in an all-Black office, located in a historic ghetto in Dallas, Texas. Previously, I had lived in racially-segregated neighborhoods and attended segregated public schools: de facto in Detroit and de jure in Dallas. I graduated from a state University that wasn’t segregated, but that had very few minorities; this was before affirmative action and the Civil Rights statutes. I did have one Black friend in college — Henry — whom I now realize probably had a romantic interest in me, and was just waiting for a sign from me, but I was too oblivious to notice. Once I found myself immersed in Black culture, all day, every day, I quickly realized that segregation — the stated purpose of which was to socially-isolate Blacks — actually had the opposite effect and isolated Whites. The Black people with whom I was now in close, daily contact — all but one of whom took me under their wings and “schooled” me in their culture — knew everything they needed to know about White people. They were immersed in the dominant, White, culture and needed to know how to function within it as a matter of sheer survival. Plus, they were surrounded by school curricula, news media, movies, TV, etc., all designed by — and, almost exclusively focused on — White people. I was the one totally ignorant of Black culture and thereby handicapped by that ignorance. The final year of that job — it was a multi-year social research survey that was scaling down — our office was relocated into the home of my boss, a Middle-Class Black woman with teen-aged children at home. Among other things, we cooked a soul food meal for one of her kid’s classes during Black History Month; I can now claim to know how to properly cook chittlins! Seriously, though, I became “a member of the family,” and now — 45 years later, they still claim me and, together, we joke about how “Black folks raised me.”

      Reply
      • Nice story, thanks for sharing it! It matches mine in some ways – I found it wonderful to be “raised” by black culture, in ways that I was not, when I was growing up and even as a young adult – in white cultures. I appreciate how you say – it wasn’t Black people who were isolated, but white, totally isolated from Black culture.

        Reply
  • Greg Thrasher

    The fiction that only White Americans contributed to America growth and development is an international myth

    BLM

    Reply
  • Michael J. "Orange Mike" Lowrey

    Why, yes, those right-wing Japanese who deny the Nanking massacre, the enslavement of “comfort women”, etc. ARE condemned. Faber apparently thinks it’s a bad thing to call them on it, since those are the most powerful peoplein the only part of Japan HE cares about.

    Reply
  • I am sorry to say that him being Swiss is little surprise to me. With the amount of racism and xenophobia floating around Switzerland and Europe in general, I get a laugh at white Europeans who insist to me, a black person, that racism is largely an American thing. When I remind them that the modern concept of race was invented in Europe, there is all types of deflection, gaslighting, appeals to authority, and ad hominems. It saddens me that it seems no large western country does a good job of educating their majority populations on the struggles and discrimination faced by minority groups.

    When at home in the USA, I even have to remind Americans of various backgrounds that Europe is no racial utopia they seem to think it is. Black people think that they can find someplace outside of America to escape, but need to remember that anti-blackness is global.

    Reply
« Previous Article     Next Article »