Saturday, October 13, 2012

Marc Faber ~ Global Crash Coming! We Are All Doomed

Marc Faber at "Austrian Economics and the Financial Markets," the Mises Circle in Manhattan, frankly, I've never seen Mr. Marc Faber make such blunt statements on the dire outcome he expects. Marc Faber says 3-5% of his typical audience owns physical gold. And most of them not a meaningful position.
Some quotes:
"Zero interest rates create new bubbles"
"Central banks can't control where the money will drop into when they give it out via low interest rates"
"Low interest rates caused speculation in commodities, like oil"
"Greenspan could see housing bubbles in Spain and Shanghi but not the US"
"Lifetime achievement of Greenspan and Bernanke - creating a bubble in everything!"
"2000-2007 all asset classes went up, dollar went down. 2008 reverse happened"
"Dollar strength function of decreased global liquidity, increased global liquidity made dollar weaker"

some key points :
1. We're all doomed.
2. Krugman and Bernanke
3. Central Banks
4. Greenspan & Bernanke: "We can't identify bubbles"... really?
5. Bubbles can still happen under sound money
6. Ways to screw savers
7. Core Inflation
8. The Life Time Achievements Award
9. The Chaos of Falling House Prices... However
10. What to Own in Times of War


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