The US Dollar Will go to value Zero Said Faber on Bloomberg

Marc Faber on US Dollar

The dollar will become worthless when people eventually realize the fiscal situation in the U.S. is a "disaster,"said Marc Faber, publisher of the Gloom, Boom & Doom report.

"It will go to a value of zero eventually, but not right now," Faber said today in an interview on Bloomberg Television. "Looking at Mr. Obama's administration, it should already be there. I think it will take about 10 years until people realize that the fiscal situation of the U.S. is a complete disaster."

"In my opinion, about 50 percent of tax revenues will be used just to cover the interest payments on the government debt. That is unsustainable. Then you'll really be forced to print money."


The best investments right now are foreign currencies, commodities and equities, Faber said. Stocks will continue to benefit from the actions of Federal Reserve Chairman, "As soon as the S&P drops to 900 or 800, he will print money again. He's a money printer. He's nothing else."

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Cash as Risky as Commodities Equities and Real Estate Marc Faber on Bloomberg News 26 Oct 2009

Marc Faber on Bloomberg Television Risky Cash

Cash as Risky as Commodities Equities and Real Estate Marc Faber on Bloomberg News 26 Oct 2009 .Analysis and discussion with Editor and Publisher of Gloom, Boom and Doom Report Marc Faber; To hold cash today is a risky as holding equities, commodities or real estate; Weak U.S. dollar is a symptom of inflation. (Bloomberg News >


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Latest Jim Rogers Bloomberg Interview, October 28

Topics: Jim Rogers, chairman of Rogers Holdings, talks with Bloomberg's Bernard Lo about the outlook for the U.S. dollar, Gold, Stocks and Treasuries. (Source: Bloomberg)

Marc Faber Dollar will become wall paper Oct 23, 2009

Dr Marc Faber Editor and Publisher of The Gloom, Boom & Doom Report from Copenhagen Denmark

Dr. Marc Faber, Editor and Publisher of The Gloom, Boom & Doom Report joins us on the special edition of Financial Friday from the floor of the The International Cash Conference in Copenhagen. Oct 23, 2009

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Marc Faber China will continue to grow despite the decline of the Dollar

Marc Faber says Obama's stimulus a failure, Oct 26, 2009

The Obama administration's effort to reinflate the U.S. economy with government spending is destined to do more harm than good, Marc Faber author of the "Gloom, Boom and Doom Report" says...

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Marc Faber Dollar Will Eventually Go to Value of Zero

Faber told Bloomberg TV Dollar Will Eventually Go to Value of Zero 27 Oct 2009

Marc Faber, publisher of the Gloom Boom & Doom Report, talks about the outlook for the U.S. dollar going to a "value of zero" and the country's fiscal situation. Faber says the dollar will become worthless when people eventually realize the fiscal situation in the U.S. is a "disaster."

The currency will become worthless when people eventually realise that the fiscal situation in the US is a “disaster”, said Marc Faber, publisher of the Gloom, Boom Doom report.

“It will go to a value of zero eventually, but not right away,” he said.

“I think it will take about 10 years until people realize that the fiscal situation of the US is a complete disaster.”

The dollar’s rally will not last because the US will be forced to print more money to pay its debt, Mr Faber added "Ben Bernanke is a money printer and we should give him a medal for that "
(Source: Bloomberg)

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Inflation or Deflation? It is Definitely Deflation Mish Says

"When credit is not expanding, businesses are not expanding, businesses aren't hiring [and] the unemployment rate starts soaring," Shedlock says. "That's the really important thing here. When you look at [consumer] prices, that's putting the cart before the horse."

Tags : Mish Inflation Deflation Marc Faber Peter Schiff Credit Crisis Economy Housing Market Mortgage Stock Jim Rogers Builders China Dollar Euro Gold Home Investing Market Oil Soros Stock Yen Yuan Ben Bernanke Fed Street Wall

Zimbabwe like Inflation , Time For $1M Bill?

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Marc Faber at THE WORLD MONEYSHOW LONDON

Tomorrow Friday Marc Faber, author of The Gloom Boom & Doom Report will give a speech at THE WORLD MONEYSHOW LONDON under the title " Could expansionary monetary policies and large deficits lead to high inflation rates? "
More Information about the event and the speakers could be found HERE>>>>

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US Dollar Weakness Is A Symptom Of Inflation In The System Marc Faber on istockanalyst

Marc Faber on istockanalyst 14 Oct 2009

The United States is not now or ever going bust. A sovereign government which borrows in its own currency in a fiat currency system can never go bust. An entity which borrows and prints its own money does not have the same constraints that, say, California or Ireland have. How prices are affected is another issue altogether.
Read Article >>>>

America will go bust Marc Faber on reserve currency and Inflation Bloomberg 14 Oct 2009

Marc Faber on US Deficit debt inflation money printing in other words on Bananomics as bloomberg journalist calls it :

Gold Silver Mining Stocks and the FED Marc Faber on Bloomberg Oct 13 2009

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Marc Faber On Inflation and Intel Stocks Bloomberg Oct 13 2009

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Gold The Best Inflation Hedge Marc Faber on CNBC

Analysis and discussion with Managing Director of Marc Faber Limited Marc Faber; Inflation can not only by measured by consumer prices.

Real Estate Prices are now much Higher in Hong Kong than in the US said Marc Faber

"We have now flats, condos in Hong Kong selling for 9,000 USD per square foot. In America, the price level compared to the price level in some of these Asian cities is actually quite low. So I think the US Dollar is no longer overvalued for the time being and the sentiment about the US dollar is so negative that we can have a rebound in the dollar for a couple of months. That would indicate some tightening of global liquidity and would be bad for asset markets as was the case in 2008, when the US dollar rebounded and all asset markets went down"

Marc Faber a Bull in Vietnam

Marc Faber is very bullish on Vietnam's economy
"Vietnam has among the most attractive growth prospects in Asia over the long run" said Marc Faber author editor and publisher of the Gloom, Boom & Doom Report, in an interview last week . Bloomberg reported that Vietnam Economic Growth Accelerated to 5.8% in Third Quarter . Vietnam President Nguyen Minh Triet told Bloomberg last week that : Vietnam Focused More on Growth Than Inflation

CLICK HERE TO WATCH THE VIDEO INTERVIEW

Marc Faber on Bloomberg Stocks May Have Peaked for 2009

Marc Faber, editor and publisher of the Gloom, Boom & Doom report, in an interview with Bloomberg speaks about about the outlook for global stocks. Faber, speaking from Hong Kong, also discusses gold prices, and the impact of China's technological advancement on its ability to compete in the global marketplace.

CLICK HERE TO WATCH THE VIDEO INTERVIEW OF MARC FABER

Marc Faber Bullish on Drug Companies in the US

Stocks Have Peaked for 2009 Marc Faber on Bloomberg

Marc Faber, publisher of the Gloom, Boom and Doom Report, speaks with Bloomberg TV about the global economy, equities and currency markets, and Federal Reserve monetary policy Gold prices Asia drug companies commodities and much much more.

Build your own custom video playlist at embedr.com

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Expansionary US monetary policy Creating the next crisis Marc Faber

"So I think as far as the eye can see, monetary policies in the US will stay expansionary," Marc Faber told CNBC TV 18 last week

"Reading through the literature and through the speeches that are being given by Mr Ben Bernanke, my impression is that the short-term interest rates will stay long for a very long time. In America the fiscal deficit this year will be around US$2 trillion and I do not think they can cut the fiscal deficit next year because if they cut it, it will have a negative impact on the economy.

So I rather think that the fiscal deficit will stay at this level or in my opinion actually even increase. That will lead the Fed to keep interest rates artificially low because should they increase short-term rates meaningfully then the cost of servicing the government debt in the US will escalate substantially" Faber added Watch Video Interview bellow

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America Already Has Way Too Much Debt - Marc Faber on Tech Ticker - 09-22-09

Source Youtube :
Ken Fisher's argument that America is "under indebted" and that more debt will be a global phenomenon in the next 10-20 years raised a lot of eyebrows last week - and quite a few catcalls in our comments section.

Fisher may be technically right -- that there's appetite for more U.S. debt, but Marc Faber, editor of The Gloom, Boom & Doom Report, scoffs at the idea that it would be healthy or smart.

More debt "comes at the expense of a falling dollar...and much higher inflation rates in the future," says Faber, who notes the U.S. has total debt-to-GDP ratio of 375%, "excluding contingent liabilities from Medicare and Medicaid."

Perhaps more important than absolute debt levels, Faber says much of America's debt has gone to pay for unproductive things like golf courses and big houses and investments with Bernie Madoff.

Meanwhile, emerging market economies, in Asia particularly, have much lower debt levels and have used leverage to pay for modernization of factories and educated workers when they've used debt, Faber says.

"The Western world is overleveraged," he says. "We've mortgaged the future and our children will have to pay for that somehow."

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Marc Faber Bullish on Gold Bearish on Dollar

Future of US Economy Will Be Very Bleak Marc Faber on Tech Ticker - 09-22-09

Marc Faber Bullish on Gold Bearish on Dollar
"The future will be a total disaster, with a collapse of our capitalistic system as we know it today, wars, massive government debt defaults and the impoverishment of large segments of Western society," Marc Faber writes in the September issue of The Gloom, Boom & Doom Report.

A statement like that pretty much speaks for itself, but it's a bit more complicated than appears on first blush.

Faber has been bullish -- especially on commodities and emerging market stocks -- for some time now and believes the current global recovery trade will last another two-to-three years, as discussed in more detail in a forthcoming clip. But he has major long-term concerns about the dollar's long-term viability given rising U.S. deficits, massive unfunded mandates and the fact "we have a money-printer at the Fed."

This combination will eventually lead to runaway inflation...





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Marc Faber Bullish on Gold Oil Gas China India and Commodities

Big Crisis ahead No Revival in US, Marc Faber Oct 3, 2009

Q: There has been another curious development these past few months, which is that gold has been rallying along with many of these so-called risky assets. Do you read it as a warning signal that gold has been around the USD 1,000/oz mark?

A: Basically to some extent it is a warning signal for central banks because since 2001 the price of gold has gone up four times and that should make central bankers think that there is some kind of inflation in the system. It may not be inflation in consumer prices, although as you know in India recently food prices went up by 15%. So, in general we are in an inflationary environment. We have in the US a central bank that purposely wants to lower the value of the US dollar in terms of its purchasing power and also wants to eliminate one of the functions a cash deposit has which is namely to be a store of value. So, we see an elimination of these conditions, I believe that a lot of people consider gold to be an alternative to cash as I do. Now can the price gold move down somewhat? Yes, of course but I think we have some support for gold prices as it moves down from Asian central banks that own very little gold.

Q: While gold and metals have had a pretty sharp rally, crude has actually not been moving with that much momentum. For crude prices how do you foresee the next couple of months shaping up?

A: We had a more than doubling of crude oil prices between December 28 of this year until recently from USD 32/bbl to over USD 70/bbl. A correction is possible in the order of 10-20% – that I don’t know but in the long run given the increased demand from emerging economies for oil and given the fact that every year we burn more oil than we add to reserves, I think that the fundamentals of oil for the long run are relatively favourable.

Q: As you watched the markets right now, do you see any similarities with the situation that we had in 2007 and just by extension of that if there is indeed a correction who do you think will falter a blink first, the equity markets or the commodities or a completely other asset class?

A: I think that equities after the peak in October 2007 collapsed around the world by plus or minus 50% and now they have rebounded but they are not at their previous highs. In the meantime, in some countries, companies have continued to increase their earnings and so the valuations are not as stretched as in 2007.

But what disturbs me personally is that we had the financial crisis. The cause of the financial crisis was excessive debt growth that was essentially produced by notably the American Central Bank, the Federal Reserve. Now the same people who produced the crisis namely the policy makers in the US, are still in-charge and if you look at what has happened in the US over the last 6-9 months, nothing has been solved. It has been postponed through fiscal and monetary measures, precisely the measures that brought about the crisis in the first place.

So, I think enjoy your ride in asset classes as long as it lasts but I think we are seeding the next crisis and it may happen in the next three months, maybe tomorrow, maybe five years, maybe only in 10 years. But I think the big crisis is still ahead of us.

Source Moneycontrol.com

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Marc Faber - US Dollars Will Be Worthless Tech Ticker 09-22-09

Marc Faber, editor of The Gloom, Boom & Doom Report is, by his own account, "ultra-bearish" on the long-term fundamentals of the U.S. market. (Discussed in detail in this clip.)

However, in the near term, Faber sees plenty of money-making opportunities in stocks. Sure, prices aren't as cheap as they were in March, yet he's confident, "in this envionrment cash will become worthless." As a result, he says investors are, "better off being in equities," for the next two to three years.

Faber is most bullish on mining and energy companies. He recommends: * Newmont Mining and FreeportMcMoran as relative inexpensive. He also mentions Nova Gold, as another, more speculative buy. * In a contrarian call, on natural gas, he says Cheasepake Energy will be a winner when prices eventually rebound. * Oil giant ExxonMobil is another stock he thinks offer good value.

Outside of that, Faber says buying large-cap pharmaceuticals like Pfizer and Johnson & Johnson offer good defensive options.

Finally, he suggests U.S. airlines are poised for a rebound. If that happens, international airlines will follow and Thai Airways stock could double.

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Top Contrarian Stocks .Street TV

Top Contrarian Stocks

NEW YORK (TheStreet) -- Don Hodges, co-manager for the Hodges Small-Cap Fund, offers his top contrarian stock selections, including Southwest and Continental. Original Air Date: 08/04/09 For more market commentary, go to RealMoney.com Click on the video for a free trial.

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The government debt in the US will escalate substantially Marc Faber

Marc Faber on CNBC TV18 Oct 1st 2009

In an interview with CNBC TV18 Marc Faber said that he does not see any recovery in the US despite the fact that the US dollar may rally for a couple months ahead , but on the long term the situation looks grim for the US economy and dollar :
"Basically, we have had huge fiscal stimulus packages and we had quantitative easing in basically all countries around the world. So asset prices have recovered strongly after March 6 this year, with stocks rising, commodity prices rising and the dollar weakening again and each time the dollar weakens it is kind of a symptom of some inflation in the system and excess liquidity building up. What we have is large cash positions around the world and zero interest rates and also the policy by the Fed to keep the matter very low level for a very long time as was the case of 2001. With this in mind, money goes out of cash balances into something, either consumption or into some kind of assets like equities or commodities or bonds or art or real estate."


and he added :


"I don't think so. I think we have to distinguish between short-term interest rates and long-term interest rates. Long-term interest rates, the Federal Reserve does not really control them in the long run. Temporary they can somewhat control them through quantitative easing and through the purchases of 10 year bonds, 7 year bonds, 30 year bonds but what they control are the short-term interest rates in other words, the Fed fund rates. Reading through the literature and through the speeches that are being given by Mr Ben Bernanke, my impression is that the short-term interest rates will stay long for a very long time. In America the fiscal deficit this year will be around USD 2 trillion and I do not think they can cut the fiscal deficit next year because if they cut it, it will have a negative impact on the economy. So I rather think that the fiscal deficit will stay at this level or in my opinion actually even increase. That will lead the Fed to keep interest rates artificially low because should they increase short-term rates meaningfully then the cost of servicing the government debt in the US will escalate substantially. So I think as far as the eye can see, monetary policies in the US will stay expansionary."

Hyperinflation is Coming! Weimar Republic of Germany

Dr Marc Faber author of the Gloom boom and Doom Report said in May:
“I am 100% sure that the U.S. will go into hyperinflation.” he also compared the inflation that could hit the USA as that in Zimbabwe , he recently called Ben Bernanke a criminal and a "money printer" accusing him of having flooded the monetary market with trillions of freshly printed US bank dollar notes backed by nothing and "worth nothing" .The government has recently injected so much money into the economy through bailouts, quantitative easing, purchase of treasury bonds , etc...this logically could lead to an inflation scenario and possibly to the collapse of the dollar and the loss of its status as a world reserve currency if the debtors nations decide to stop lending money to the USA and stop buying the US treasuries.....in the following clip Glenn Beck discusses how the hyperinflation is dangerous and the similarities between today's US economy and that of Germany's Weimar Republic ...

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