Marc Faber : the war in Libya is all about containing China

Marc Faber : well actually it has not happened yet , but you understand hyperinflation is an inflation that gets out of hand after a period of relative calm I mean in Germany prices started to increase in 1918 after after the war in 1919 and it only really exploded on the upside in 1922 1923 and the same happened in Argentina so I am still wondering when it could happen and I happen to think that the likelihood has actually increased for the following reason , you know if you go back say January first 2011 we were all celebrating the new year and a week earlier we had Christmas who would have thought that the middle east was in the process of blowing up who would have thought that a NATO country that are bankrupt like Italy and not in a much better position like France would go to war against an atheist in Libya , I am not saying that he is a a nice person I am saying that he is an unpleasant character , if you want to go after all the unpleasant character in the world you have to go after like 180 countries he is not worse than the other ones , there is no reason to be in Libya no reason whatsoever , it is a complete madness to fight in Libya and if you fight you have to fight to win , but what will happen in three months this man alone is gonna be a hero of the revolution to stand up , eventually he will be removed , but he is a hero of the revolution , a man alone standing up against the imperialistic capitalistic colonialist western world , and I think what will happen eventually if you read the paper in the US it is all about how we contain China , the western world knows including western Europe and the US , one way to control China is to control the oil in the middle east , and if they control the oil in the middle east they can switch on the tap or close the tap to China because China Japan South Korea Hong Kong Tai Wan they get 95 of their oil from the middle east that is not the case for the US , the largest supplier of the oil to the US is Canada and a larger supplier is also Mexico Venezuela West Africa Angola Nigeria , the Chinese are hundred percent dependents on the middle eastern oil , and the US and western powers they will go and destabilize the middle east and then try to control it , but obviously they can only go this far because first of all it will take a lot of money , see now they are engaged in Libya they are engaged in Iraq they are engaged in Afghanistan next station they have to be engaged in Pakistan which is gradually shifting its alliance to China away from the US , now when the US went into World War II debt to GDP was 140 percent and they did not have unfunded liabilities like medicare medicaid , now they have unfunded liabilities and they have debt to GDP 379 percent officially but with unfunded liabilities something like 800 percent they are not in a position to finance the war unless they print money , and so I think the geopolitical picture will eventually lead in my opinion to much higher inflation rates than what we are seeing now , and by the way I think the inflation in the US is already much higher than what it has been published by the media and we know now about the media since Mister Murdoch is the largest media magnate and since he for sure , because I know some people who used to be leading position at Newscorp in Asia he calls them everyday he checks everything that they do he knew about the hacking in Britain for sure , but this is big big business , and big business is dirty but why is it dirty ? because it has been made dirty by the government ..."  - in Financial Sense News Hour  Click Here to listen to the whole interview >>>>>