Claudio Grass, Global Gold: I was recently at the Gottfried Haberler Conference in Vaduz and had the pleasure of listening to a speech by Hans-Adam II, Prince of Liechtenstein. In his speech, he talked about his book “The State in the Third Millennium” where he propagates the importance of decentralization to the level of the municipality, the right to secession and the privatization of the school system. What are your thoughts on the topic, and would you like to live in such a state?
Mr. Faber: I strongly agree with decentralization. Generally, in small societies, democracy is more successful than in large societies. In countries like India or the United States, the federal government has become so large that they take decisions that are not necessarily in the interest of the individual. This is different from Switzerland, where we have municipalities, “Gemeinden”, and states, “Cantons”, with a lot of decentralized power, which I find very desirable.