Friday, May 13, 2016
Marc Faber on Cashless Society Insanity and Why Wall Street Hates Gold
You have a group of people that want to have more and more control over you and me. They want to know where you are, what you do, what you're looking at. Basically, we're moving into an Orwellian society where they can check everything. And cash will still be one of the means where you could go somewhere and buy something and nobody would really know about it. Now they want to abolish it. Of course, if you have negative interest rates, you want to essentially prevent people from hoarding bank notes at their safes at no cost. So you want to deprive them of that privilege, of that freedom. So you introduce a cashless society.
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.
Posted by Nicole Bourbaki