Veteran Swiss investor and television commentator Marc Faber faced backlash Tuesday for comments in a newsletter thanking God that "white people populated America, and not the blacks."

CNBC and Fox Business Network said they will no longer book Faber on their shows, and he has been asked to step down from at least one company board.

In response to the criticism, Faber decried what he saw as threats to the freedom of speech.

"If you have to live in a society where you cannot express your views and your views are immediately condemned without further analysis and analysis of the context in which [they're written] - if you can't live with that, then it is a sad state of where freedom of the press and freedom of expression have come," he told MarketWatch.

Advertisement

In the October 3 edition of his 15-page investor newsletter, "The Gloom, Boom & Doom Report," Faber wrote that had the United States been colonised by blacks, it "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."