Marc Faber : Printing will Create the Final Crisis

Marc Faber CNBC Interview 03 Aug 2010

Marc Faber : “Investors should’ve listened to me already six months ago, when I wrote that the Fed will continue to monetize, and this is my view , they will never let up ? ... they will print and print and print, until the final crisis wipes out the entire system,” Marc Faber, editor & publisher of The Gloom, Boom & Doom Report, told CNBC. David Bloom from HSBC joined the discussion, adding, "I think we're not quite at those draconian points."
Marc Faber continues : "they are very bad forecasters of economic events , in particular that was the case for mister Greenspan , but Mister Bernanke is in the same boat , he has no clue what the economy's doing , and so they misread in 2007 the severity of the forthcoming crisis and then they misread in the last few months the strength of the economy which is unlike your commentator before just said shows no sign of strengthening but signs of of weakening everywhere in the world and therefor I would argue that the federal reserve with its policy and with the writings and papers mister Bernanke has published about the great depression that more quantitative easing will be forthcoming , and significantly more...."
Marc Faber continues : well i think that everybody in the world has concerns about the ultimate value of the US dollar and also obviously about the value of the US government bonds because if the fiscal deficit stays at this level , in my opinion they are actually going to increase overtime and obviously you will have a credit problem in the United States soon or late , it is not gonna happen in the next three years but thereafter , so I think that diversification out of the US dollar treasuries is desirable and that's why I am not all that negative about Equities , i think that if you look at the different investment alternatives Equities bonds real estate commodities and precious metals , I think that equities should be presented in a portfolio ...in particular if you are very bearish about the world in the long term , you probably be better off in equities than in bonds ......