Marc Faber : I don’t trust any government, period. The debts are too burdensome for the system, and then it leads to all kinds of symptoms. In other words, if you can’t pay your debts, you may print money, or you default, or you increase taxation, or you take things away from the well-to-do people, the evil people that make so much money. Well, the Federal Reserve enables them to make so much money. That is a key difference. They didn’t abuse the system; they just took advantage of a situation of money printing so their wealth increased more than the wealth of the middle class and the lower classes.
In the Western world, they’ll go after these well-to-do people and
people that own gold. In Asia, I’m not so sure this will happen because
Asia is increasingly coming under the umbrella, our own umbrella of
China. The Chinese government has actually encouraged people to
accumulate gold, and themselves, they are accumulating gold.
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.