Marc Faber : Imminent Devastation , we become like Venezuela

Marc Faber : “They could essentially monetize everything, and then you have state ownership. And through the central banking system, you introduce socialism and communism, which is state ownership of production and consumption. I don’t think the central bankers are intelligent and smart enough to understand the consequences of their monetary policies at present.”

 “I suppose the system will collapse before we become like Venezuela. In the West, if they start to print money, the end game will be brief. Within five years, I expect the system to implode.” - in MarketWatch

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.