Marc Faber, the author of "The Gloom, Boom and Doom Report," told that with its continued printing of money the US Federal Reserve will create a “final crisis” that will annihilate the US economy once for all. And thus he urges the investors who keep to the same view to hold stocks instead of bonds in their portfolios. Meantime, analysts expect that the Fed will decide to re-start easing monetary policy, possibly by buying assets, as early as Aug. 10 when the next meeting over policy is scheduled.

"Investors should have listened to me already six months ago when I wrote that the Fed will continue to monetize … they will print and print and print until the final crisis wipes out the whole system," Faber said.

Fed Chairman Ben Bernanke has "no clue what the economy is doing," and the Fed "misread in the last few months the strength of the economy," he added.

He sees "significantly more" quantitative easing ahead. A report in the Wall Street Journal said the Fed might decide on buying government bonds or mortgage bonds again.

David Bloom, head of foreign exchange strategy at HSBC, said he has "no doubt that the Fed is going to step on the accelerator" at its next meeting but that Faber's view was too gloomy.

"It's a bit extreme from my view, I think we're not quite at those draconian points," Bloom said.

US Treasurys are likely to suffer because of the Fed's policy, said Faber, echoing a view expressed earlier by Jim Rogers who told CNBC he had a small short position in US government bonds.