Marc Faber Full Interview with CNBC Asia 18 Apr 2011

Dr Marc Faber, editor & publisher of "The Gloom, Boom & Doom Report", was today interviewed by CNBC about the American budget deficit he offers his views on how to tackle the U.S. budget deficit, as well as how that is affecting his U.S. investment strategy. " I do not think that it is possible to reduce the deficit meaningfully unless you increase taxation significantly and unless you cut spending meaningfully , and there fore having the Democrats on one side o the Aisle and the Republicans on the other I do not believe that they will compromise , i think the debt ceiling will be increased yes , but I think the deficit will stay around minimum one and half trillion dollars for the foreseeable future "




Marc Faber " well basically I do not think that people should punt on Gold but they should be their own central bank and gradually accumulate gold reserves as a currency and they should basically hold it physically but not in the US outside the US " " I think there is the risk that the US will once again as they did in 1933 collect the gold expropriate the gold they will not take away and not pay anything they'll pay probably the market price and after they will revalue it it by say five times "
Marc Faber : I think you are right in saying that we are in a contest for the ugliest currency , but I disagree with the fact that people are heavily positioned in Euros , I have a lot to do with very well to do people around the world , Latin Americans US citizens Europeans Asians i would say most of them have at least 70 to 80 percent of their money in US dollars now occasionally the market participants the speculators may be heavily in the Euro and negative about the US dollar but by in large there a huge over hand of US dollars globally and I'll tell you if people could sell their dollars and move to something they believed in they would do it , but I believe that the best currency is still gold and silver and this is not the perception of most people they think that gold and silver are speculative investments "
"I think that conceivably the US dollar here could rebound but I maintain my longer term projection , the value of the US dollar will be precisely its intrinsic value namely ZERO precisely ZERO , yes I told you two years ago and I still maintain that "

Marc Faber : Everybody wants to rip off the system in America

Marc Faber : ".... it depends whose misery. i mean, it would take me a very long time to go into details. but basically today, actually in the u.s., it's not an issue between democrats and republicans because this are many democrats who are well-to-do people and there are many republicans who are not so affluent. it's a question of essentially entitlements, the majority of people obviously is not particularly well to do, so they want larger and larger entitlements, transfer payments and work less. and the people that have money are the ones that usually work very hard, and they don't want to have transfer payments. so the people that have the money say that 10% of the population that is affluent in the u.s. or maybe just 5% of the population, they are outnumbered by the poor people. and therefore they have essentially no votes. so the one way to get back at the masses that all get these entitle systems to prints money and entitlements is to print money. by printing money and outsourcing production to china, you disenfranchise the working class,and by printing money then asset prices go up. could be real estate, stocks, commodities, whatever it is. and so your asset value increases dramatically, and there is wealth disparity that is increasing. ..."... it's not conspiracy. but look, if you clearly think about it, if you are well to do in the united states, you is exactly the same vote as someone who doesn't want to work, that is born illiterate. because in America close to 50% of babies are born to women that are not married. and most of them are actually poor. so w what kind of education these people will get? you have to ask yourself. they have the same vote than someone who has, say, influence, and affluence and has worked very hard all his life. these guys who worked very hard to say to themselves has the system is cheating us. we're going to cheat the system, as well. "...."it's a ver complex issue."
" what i really wanted to say is the tragedy is that the system has become dysfunctional. and the other day cnbc interviewed Mike Steinhart. he said it exactly the way it is. he said we're not living in the America that America used to be. some think changed along the way. and everybody wants to rip off the system. and that leads then to essentially and has also been encouraged by money printing. but basically the well-to-do people in America, they benefit from money printing, as well as elsewhere in the world because they can shift their assets overseas. the ordinary man doesn't have that potential."

Marc Faber on CNBC 11/09/10

Nov. 9 2010 | Discussing the real cause of the financial crisis, with Frank Berlage, Multilateral Partners Global Advisory Group, and Marc Faber, The Gloom, Boom & Doom Report.

Marc Faber on CNBC - Full Interview 6/17/10

Marc Faber : Deflation Would be a Good Thing Thursday, 17 June 2010

Marc Faber the author of the gloom boom and doom report was interviwed by CNBC this 17 June 2010 : I think we are in a correction phase , we got over sold as of two weeks ago 10 days ago we're rebounding , I think we can go on the S&P to around this resistance level 1170 and then we will probably have a bad September October ...I wonder who amongst this table will buy now a Spanish bond for ten years at 4.91 percent ...
Spain is about to issue 10 years and 30 years bonds , but Marc Faber does not seem bullish on them ...he says better be in equities at this point than in Spanish bonds...Marc Faber says he prefers Gold and Gold Shares
Marc Faber :"I think any government intervention has unintended consequences and is negative"
6-17-10 Marc Faber of the Gloom Doom and Boom report talks with CNBC Europe about the global economy. Faber states that inflation is in system and would like to see deflation in global economy. He is buying gold because there is nothing else worth buying. These are highlights of the interview featuring Marc Faber.
The global economy is likely to slow in the second half of the year, according to Steen Jakobsen from Limus Capital Partners. But that doesn't mean that stocks can't continue higher, Marc Faber of "The Gloom, Boom & Doom Report" told CNBC Thursday