Expect QE3 but not right away : Marc Faber

Marc Faber, publisher of the Gloom, Boom & Doom talks to Bloomberg March 30
Marc Faber, publisher of the Gloom, Boom & Doom report is in Mexico City to speak at an event entitled "When everything else fails policy makers can always be assured of immortality by making spectacular errors " Marc Faber says to expect QE3 from the FED but not right away , regarding the spectacular errors of policy makers Dr. Marc Faber had this to say : " ...well I think the big error is obviously to print money , I think it does not help in the long run , it can give a temporary boost to economic activity but it does not lead to sustained economic growth in fact it creates a miss-prizing of assets and of goods and services and has negative implications on the prize mechanism in other words say you print money that can be done but the central bank or in the case of the US the Federal reserve what it can't know is where the money will flow to , so it flowed to NASDAQ stocks before march 2000 and into the housing market and created a bubble and in 2008 as the economy went into recession we had a commodities bubble , oil went from the day they cut interest rates in September 2007 to July 2009 all the way from $78 to $147 which was like an additional tax on the US consumer to the tune of 5 billion dollars and lately the money printing in the US hasn't really helped much the assets that the FED would like to boost namely housing but it created other bubbles overseas in currencies and again in commodities to some extent " ...regarding QE3 Marc Faber says :" for sure there will be QE3 but not right away , I think the FED believes that the economy is recovering and some sectors of the economy are actually doing quite well overseas we have strong growth in particular in emerging economies like here in Mexico the economy is doing very well at present time , so I think they will do QE3 , and my view is they will do QE3 , QE4 QE5 until QE26 until the whole system breaks down , and obviously the question is how fast they will do and to what extent the stock market has already expected this QE3 or the end of QE2 , as is QE2 is now fully discounted I do not think that the market will go up significantly , in fact I think that the FED would like to see stocks correcting somewhat ahd then have an excuse if stocks are down 20 percent that we need QE3 ..."