Thursday, July 21, 2011

Marc Faber : Easy monetary policies create greed and bubbles

Marc Faber : ...well basically easy monetary policies create greed and bubbles , and one of the symptoms of bubbles and manias , investors manias is always the proliferation of Fraud , Embezzlement and dishonest practices , we have also in the US , I mean basically I would say Fannie Mae and Freddie Mac were a complete fraud but of course the government will never admit that , I think the US government is a complete fraud with the exception of some decent but by in large it is a fraud it is a Ponzi scheme , - in the FSN interview

Marc Faber : I feel sorry for Mr Bernanke , academically he knows everything but he has no clue about the real world

Marc Faber : we can drop as many dollar bills on the United States , but we do not know where the money will flow to , it flowed into the NASDAQ until March 2000 then it flowed into the housing market until 2006 , 2007 but basically where economic activity was occurring and boosted was outside the US , and the more the US will print money the more in my opinion the dollar will depreciate against some currencies may be not all because say the Euro is certainly not more desirable than the US dollar , it will continue to depreciate against currencies like Gold Silver Platinum and probably Palladium , I mean I feel sorry for Mr Bernanke , because he really does not get it , he does not understand , he is a typical academic , you know a typical academic is a professor in medicine that knows everything about how a patient become sick but does not know how to cut something like a butcher and therefore can't operate on a patient , Mr Bernanke academically he knows everything but he has no clue about the real world no clue whatsoever- in Financial Sense Newshour Inreview 15 July 2011

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