Influential Investor Writes Racist Article: ‘Thank God White People Populated America, Not the Blacks’


Influential investor and business mogul Marc Faber — who is also known as Dr. Doom — went on a viciously racist tirade in his latest newsletter.

In this month’s edition of the Gloom, Doom, and Boom report, Business Insider reports that the investment author credited a “white majority” for America’s economic and political success in 18th, 19th, and 20th century. Faber also wrote, “Thank God white people populated America, and not the blacks.”

Faber, who has appeared on business news networks like CNBC and Fox Business, went on this racist screed in a segment of his newsletter titled, “Free Markets and Capitalism Versus Socialism” — in which he condemned the removal of Confederate statues and blasted the “liberal media.”

His full controversial and racist remarks went as follows:

“People 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. And thank God white people populated America, and not the blacks. Otherwise, the US 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. 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.)”

Additionally, the 71-year-old investor decried America’s current culture for worrying about racial issues rather than fiscal ones.

When asked if he was directly responsible for and if he stood-by the racist comments in the October edition of Gloom, Doom, and Boom report, Faber told Business Insider, “I am naturally standing by this comment since this is an undisputable fact… If stating some historical facts makes me a racist, then I suppose that I am a racist. For years, Japanese were condemned because they denied the Nanking massacre.”

According to a follow up report from Business Insider, CNBC, Fox Business Network, and Bloomberg TV — networks the investor has appeared on in the past — stated that Faber will never be featured on their respective networks going forward.

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Caleb Ecarma was a reporter at Mediaite. Email him here: Follow him on Twitter here: @calebecarma