Marc Faber : Ron Paul is Honest

Marc Faber : ...But obviously what happened is the removal of Glass Steagall and also the bailout of LTCM in 1998 essentially gave a green light to financial institutions that they could leverage up there would be a Greenspan put and later a Barnanke put and and basically they became huge and badly run hedge funds leveraging up their balance sheet like now the FED is also hugely leveraged and I think we have had as we started out this mixture and combination between politics and business and is as M Ryan said that basically when you see that men get richer by grasp and by pull rather than by work and your laws do not protect you against them but protect them against you and when you see corruption rewarded and honesty becoming a self sacrifice like Mr Ron Paul he is looked upon as someone an oddball because he is honest and I think that's where we have reached and this society in my opinion will eventually end up very badly , .....and this crisis of 2008 - 2009 has actually made the system much worse and much more corrupt- in Bloomberg Radio Interview 03 Sept 2011

Honest & Dishonest Money

Marc Faber : ...well I think everybody knows money has different functions one of them is obviously to facilitate the exchange of goods and services the other one is to be a store of value and the third one is a unit of account , and I think that with zero interest rates and cost on living increasing in the order of 5 to 10 percent for most families in the United States , Money as a store of value is no longer existent and that's what I mean with Honest and Dishonest Money , and if look at the monetary base how it's grown since the mid 1980s and especially if you look at M1 that recently has reached the growth rate that is the highest in 35 years then you will ask yourself what will ultimately the value of paper money be - in Bloomberg Radio Interview - 03 Sept 2011

The Prospect for growth in Europe and the US not good

Marc Faber : "If I look at the politicians both in Europe and the US, I don't think that prospect (for growth) is very good," . "If I also look at the entitlement system and the government expenditures and the fiscal deficits and the debt overhang, I think for the next 10 years we'll have very muted growth in the Western world and standards of living for the average household will continue to decline." - in CNBC