Friday, September 7, 2012

Marc Faber : The Financial System will go Broke within the next 3 to 10 Years

Marc Faber , "Gloom Boom & Doom Report" editor, explains why he believes the entire global financial system will "go broke" within the next three to ten years, and why investors need to train themselves not to depend on the internet and mobile phones. "I said that eventually the financial system will go broke. we'll have a crisis. I didn't say tomorrow. okay. i said it could happen in three years or five or ten years' time and before it happens there will be much more money printing. theoretically when it happens the Dow Jones could be at 100,000 and maybe at the million, who knows, depends how much money you print." says Marc Faber

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.