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Marc 'Dr. Doom' Faber reveals the 'trade of the century'

For those familiar with the work of Marc Faber, it shouldn't be surprising that his best trade idea is on the short side. But what is interesting is precisely what Faber is looking to short.

"I think people will wake up finally and say, if they can short central banks, that is the trade of the century," Faber said Tuesday on CNBC's "Futures Now."

Eventually, the editor of the Gloom, Boom & Doom Report continued, "The central banks will be exposed for all the fraud they commit."

Faber holds that the actions of the central banks have enriched the already-wealthy at the expensive of the middle class and poor, because their stimulative policies have boosted financial assets and not the real economy.

Additionally, Faber said that central bank actions are highly unpredictable—a contention that gained more heft in the prior week, when the Swiss National Bank shocked the world and rocked currencies by removing the Swiss franc peg against the euro.

"You never know—that's the problem with central banks," he said. "They're professors who never worked a day in their lives."

Read MoreStorm clouds gather over US economy: Can the miracle last?

To actually turn this into a tradable thesis, Faber advises buying gold.

"My view is that when confidence in central banks finally collapses, then gold has a 30 percent upside potential, easily, this year," he said.

Gold has actually had a nice run already in 2015, rising more than $100 per troy ounce, and enjoying the best seven-day streak since 2007. Of course, gold is still down sharply from the $1,923 level it hit back in 2011.

To generate more leverage to the upside, Faber also recommends owning shares of the junior gold miners. In fact, he calls them "the only stocks that I think have a great upside potential from here."

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