Dr. Doom has cited freedom of speech as part of his decision to not rescind his racist comments.
Marc Faber, the Hong-Kong based, Swiss-born financier, known as Dr. Doom, faced severe backlash this week for suggesting that the U.S. prospered because it was settled by white people rather than black people.
While the comments have led to his being dismissed from the boards of three firms, Faber does not appear to feel remorse for what he wrote. Faber told the New York Post in an email, “If I recall we have freedom of speech and expression. I am not prepared to compromise this freedom and liberty.”
Read: Market Commentator and Investor Marc Faber is Facing a Backlash Over Racist Comments
He reportedly exchanged additional emails with the outlet, further clarifying his remarks. He explained that he is “aware that we all have different values, but I was talking about economic progress when I wrote my report, not [white nationalist] values.”
When Faber was asked about his opinions on the abilities of African Americans and their capacity to “deliver economic progress,” he simply replied, “May I suggest you travel extensively through Africa and you will find — hopefully the answer.”
When asked for comment on the Post report and the backlash over his comments, Faber told Fortune that, “If this is the only sin I committed in my life I would feel like a saint.”