Friday, August 31, 2012

Marc Faber : The FED Caused the Crisis not The Free Market

Marc Faber : Ben Bernanke says well the market occasionally fails and so on and so forth but at no time was it mentioned that actually the failure was not the free market the failure was that the free market was not allowed to operate because under the free market system , Mexico would have gone bankrupt in 1994 , LTCM in 1998 , we wouldn't have because of ultra expendituary monetary policies the housing bubble and the housing bust and the FED encouraging people to take out sub-prime loans and so forth and so on , so we had a series of interventions that led to the crisis , now the FED and other central banks just turn around and tell you 'well if we had not eased massively after 2007 the crisis would be much worse' what they are not telling you is that they caused the crisis - in Bloomberg Radio Interview
Click here to listen to the whole interview>>>>>>


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