Buy Stocks Because U.S. Dollars Will Be "Worthless," Says Faber

Marc Faber, editor of The Gloom, Boom & Doom Report is, by his own account, "ultra-bearish" on the long-term fundamentals of the U.S. market.

However, in the near term, Faber sees plenty of money-making opportunities in stocks. Sure, prices aren't as cheap as they were in March, yet he's confident, "in this environment cash will become worthless." As a result, he says investors are, "better off being in equities," for the next two to three years.

Faber is most bullish on mining and energy companies. He recommends:

Newmont Mining and FreeportMcMoran as relative inexpensive. He also mentions Nova Gold, as another, more speculative buy.
In a contrarian call, on natural gas, he says Chesapeake Energy will be a winner when prices eventually rebound.
Oil giant ExxonMobil is another stock he thinks offer good value.
Outside of that, Faber says buying large-cap pharmaceuticals like Pfizer and Johnson & Johnson offer good defensive options.

Finally, he suggests U.S. airlines are poised for a rebound. If that happens, international airlines will follow and Thai Airways stock could double.