Thursday, September 22, 2016
Marc Faber: Central bankers are like alchemists
Marc Faber says central banks doomed to fail, as Fed, BOJ decisions come under microscope
"When I think of central banks, I think of alchemists," Faber, also known as Dr. Doom for his pessimistic views, told CNBC's "Squawk Box" on Thursday. "They were trying to mix all kinds of powders and chemicals to produce essentially gold. And they all failed," he said, although he noted that some alchemists did produce other useful chemicals during their ill-fated search for the precious metal. "But the central banks are just mixing water, in other words, paper money, and the results cannot be a favourable outcome in the long run."
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