No, hell no. What Faber is saying about "planting multiple foreign flags" is that you might have to go on the E&E, an expat semi-fugitive from the IRS/USA. In that case, you need "buried treasure" you can pick up at foreign safe deposit boxes. This gold etc will help you to restart in the haven country of your choice or ability to reach.
He is acknowledging that the USA might go nutso on a French or Russian Revolution or Weimar/Nazi Germany level, and you will NOT want to be trapped here, depending on frozen electronic assets the fedgov will not let you have. Or that might have been wiped out in value.
The talking heads who think he's off the wall are the same brainiacs who live in condo towers "convenient to downtown," who have never in their lives considered that their town might some day be razed and burnt by rioters, or turn into Sarajevo etc. They are totally trapped by their "normalcy bias," that they cannot even comprehend what Faber is saying.
Like Jews in Germany in 1933 who said to their uncomprehending friends and family, "Run! Get out! Now!" The uncomprehending just couldn't think three or four steps ahead, and take action on that basis.
That's the level of Faber's warnings.
Anyone with more money than what is in a typical checking account knows to keep it spread around; different banks, trusts, foreign accounts, etc. I can’t imagine keeping everything in one name, in one account.