Saturday, October 13, 2012

Marc Faber ~ Global Crash Coming! We Are All Doomed

Marc Faber at "Austrian Economics and the Financial Markets," the Mises Circle in Manhattan, frankly, I've never seen Mr. Marc Faber make such blunt statements on the dire outcome he expects. Marc Faber says 3-5% of his typical audience owns physical gold. And most of them not a meaningful position.
Some quotes:
"Zero interest rates create new bubbles"
"Central banks can't control where the money will drop into when they give it out via low interest rates"
"Low interest rates caused speculation in commodities, like oil"
"Greenspan could see housing bubbles in Spain and Shanghi but not the US"
"Lifetime achievement of Greenspan and Bernanke - creating a bubble in everything!"
"2000-2007 all asset classes went up, dollar went down. 2008 reverse happened"
"Dollar strength function of decreased global liquidity, increased global liquidity made dollar weaker"

some key points :
1. We're all doomed.
2. Krugman and Bernanke
3. Central Banks
4. Greenspan & Bernanke: "We can't identify bubbles"... really?
5. Bubbles can still happen under sound money
6. Ways to screw savers
7. Core Inflation
8. The Life Time Achievements Award
9. The Chaos of Falling House Prices... However
10. What to Own in Times of War

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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.