After racist note, Marc Faber resigns from Sprott, Ivanhoe, NovaGold – by Nial McGee (Globe and Mail – October 18, 2017)

Marc Faber, the markets prognosticator known as “Dr. Doom,” has resigned his board seats at Sprott Inc., Ivanhoe Mines Ltd. and NovaGold Resources Inc. on Tuesday after his latest newsletter ignited international outrage, with the publication of a litany of inflammatory and racist comments.

“Thank God white people populated America and not the blacks,” wrote Mr. Faber, who is managing director with investment advisory and fund management firm Marc Faber Ltd., in his latest monthly newsletter.

“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 a white majority.”

In the publication, Mr. Faber was also highly critical of the removal of Confederate statues in the United States – an issue that generated much controversy after white supremacists marched in Charlottesville, Va., in the summer to protest the city’s plans to take them down.

“The very same people” he wrote of U.S. liberals “are now disturbed by statues of honourable people whose only crime was to defend what all societies had done for more than 5,000 years: keep a part of the population enslaved.”

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