Thursday, June 11, 2009

Marc Faber and The Zimbabwe like Inflation

Marc Faber was the first investor to warn about a Zimbabwe like hyper inflation in America , this was early this month on Bloomberg Television "Prices may increase at rates close to Zimbabwe’s gains," Faber said . by the way according to statistics Zimbabwe’s inflation rate reached 231 million percent last July,

“I am 100 percent sure that the U.S. will go into hyperinflation,” Faber said. “The problem with government debt growing so much is that when the time will come and the Fed should increase interest rates, they will be very reluctant to do so and so inflation will start to accelerate.” Faber added ..this story was reported continuously on main stream media these last 2 weeks , even Peter Schiff talked about it on his Wednesday Wall street unspun podcast

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