Marc Faber : Only at the Federal Reserve they don't eat or drive!

Marc Faber : "Only at the Federal Reserve they don't eat or drive!" exclaimed Faber as he turned on the central bank's inflation target, produced by "the Ministry of Truth, the Bureau of Labor Studies. It is a complete fraud." But even as the United States' persistently mistaken policies lead to the emerging powers side-stepping it ("We are in a new world. China's exports to commodity-producing countries – such as Australia and Brazil – are greater than its exports to the United States. Exports from South Korea to commodity-exporting countries are greater than its exports to the US and Europe combined!"), there will come a slowdown in commodity demand and leveling off in prices in time. "I would rather be long precious metals than industrial commodities," said Marc Faber at the annual LBMA London Bullion Market Association conference in Hong Kong this week .- via goldseek