MARC FABER

MARC FABER

Thursday, July 28, 2011

Catherine Austin Fitts : we are having a financial coup detat

Catherine Austin Fitts : we have trillion dollars missing from the federal accounts depending who you talk to we have 12 to 27 trillion extended or given to the banks as a gift that's total 12 + 4 = 16 trillion that's more than the total outstanding debt of the country this is not a fiscal crisis this is a political crisis because we are having a financial coup d etat , i other words if you can steal money every year and then say our problem is that we do not have any money , no the problem is not that we do not have any money or that we are not living financially responsible the problem is you're stealing ....

Marc Faber : hyperinflation is an inflation that gets out of hand

Marc Faber : Well, actually, it hasn’t happened yet. But you understand, hyperinflation is an inflation that gets out of hand after a period of relative calm. I mean, in Germany, prices started to increase in, stay in the hyperinflation in 1918 after the war, 1919. And they only really exploded on the upside in ’22, ’23. And the same happened in Argentina, in Latin America. So I’m still wondering where they can happen. And I happen to think that the likelihood has actually increased for the following reason. You know, if you go back to, say, January 1st, 2011, we were all celebrated New Year and a week earlier, we had Christmas. Who would have thought that the Middle East was in the process of blowing up? Who would have thought that NATO countries, that the bankrupt like Italy and not in a much better position like France would go to war against an idiot in Libya? I’m not saying he’s a nice person. I’m saying he’s an unpleasant character. If you went after all the unpleasant characters in the world, you would have to go after like a hundred eighty countries. So even worse than the other one. There’s no reason to be in Libya, no reason whatsoever. It’s a complete madness to fight in Libya. And if you fight, you have to fight to win. But they haven’t won in three months. He’s a man alone. He’s going to be a hero of the Revolution to stand up, whatever he dies of, eventually he’ll be removed but he’s a hero of the Revolution -- a man alone, standing up against the imperialistic, capitalistic, colonialist Western world. And I think what will happen eventually is the US -- if you read papers in the US and study, it’s all about how do we contain China. The Western world knows -- including western Europe and the US -- one way to control China is to control the oil in the Middle East. And if they control the oil in the Middle East, they can switch on the tab or close the tab to China. Because China, Japan, Taiwan, Laos, Korea, Hong Kong, they get ninety five percent of the oil from the Middle East. That is not the case for the US. The largest supplier of oil to the US is Canada and a large supplier is also Mexico and Venezuela and East Africa, Angola, Nigeria. The Chinese are a hundred percent on Middle Eastern oil. And the US and western powers, they will go and destabilize the Middle East and then try to control it. Well, obviously, they can only go this far because first of all, it will take a lot of money. They now, they are engaged in Libya, they’re engaged in Iraq, they’re engaged in Afghanistan. Next station, they have to be engaged in Pakistan, which is gradually shifting its alliance to China away from the US. Now, when the US went into World War II, debt to GDP was a hundred forty percent and they didn’t have unfunded liability for Medicare, Medicaid and Medicare. Now they have the unfunded liabilities and they have debt to GDP of three hundred seventy nine percent officially. But with the unfunded liability something like eight hundred percent. They’re not in a position to finance the war unless they print money. And so I think the geopolitical picture will eventually lead, in my opinion, to much higher inflation rates than what we’re seeing now.
And by the way, I think the inflation in the US is already much higher than what is being published by the media. And we know now about the media since Mr. Murdock is the largest media machinate. And since he, for sure, because I know some people who used to be in leading positions at News Corp in Asia -- he calls them every day. He checks everything that they do. He knew about the hacking in Britain for sure. And he sanctioned it.But this big business. Big business is dirty. But why is it dirty? Because it’s been made dirty by the government.
. - in Financial Sense News Hour  Click Here to listen to the whole interview >>>>>
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Dr. Marc Faber Tomorrow's Gold







Dr. Marc Faber author of the Gloom, Boom and Doom report is a world class Investor, Doctor Faber 's typically controversial and contrarian views have earned him the label of Dr. Doom. Doctor Doom also trades currencies and commodity futures like Gold Natural Gas and Crude Oil.Even his harshest critics must admit that he's been unerringly correct in his market forecasts over the past three decades . Marc Faber is a Swiss investor.He was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude. Between 1970 and 1978, Dr Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. Since 1973, he has lived in Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In June 1990, he set up his own business, which acts as an investment advisor and fund manager. Faber is publisher of the Gloom Boom & Doom Report newsletter and is the director of Marc Faber Ltd which acts as an investment advisor and fund manager.