Thursday, January 19, 2012

Marc Faber - U.S. T Bonds Should be Rated Junk

Marc Faber : .....I think what's happened through back door actions the ECB is already monetizing.Because if the ECB wasn't already monetizing, then the euro would be strong. they have increased their balance sheet and so forth. so I think that much of any downgrade is already priced in. the question is whether the downgrades will be sufficient. In my opinion, most of the European countries should be CCCs. and the U.S. should not be a AAA minus, but a BBB or a junk fund when you realize the unfunded liabilities that are coming to you in the future. - in CNBC
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Dr. Marc Faber Tomorrow's Gold







Dr Marc Faber was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude. Between 1970 and 1978, Dr Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. Since 1973, he has lived in Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In June 1990, he set up his own business, which acts as an investment advisor and fund manager.