Marc Faber

Famous Investor Marc Faber’s Asset Protection Plan: ‘Buy A Machine Gun’, No Really, ‘You’re Right, Buy A Tank’ (Video)

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– Marc Faber’s Asset Protection Plan: “Buy A Machine Gun”, No Really, “You’re Right, Buy A Tank” (ZeroHedge, Nov 7, 2012):

Trish Regan and Adam Johnson do their best to hold themselves together in this sublime rant by ‘Gloom, Boom & Doom’s Marc Faber on Bloomberg TV as he sees Obama’s re-election as “very negative for the economy”. From his view that the market should be down at least 20% – and maybe 50%, to the implied ignorance of both of the candidates, he believes fervently that the “standards of living of people in the western hemisphere will continue to decline.” Faber views Obama’s re-election as one of many unintended consequences of market manipulation (since Democrat attacks on the wealthy were ‘enabled’ by their profiteering from Bernanke’s money printing) and sees the need to protect one’s assets “with a gun, a machine gun... or perhaps a tank.” He concludes with a stunner as he exclaims his view doubting Obama will make it through the whole four-year term because “there will be so many scandals” since “there is so much smoke, there must be some fire!”
The pre-amble is useful and well worth listening to as Faber describes exactly what is occurring in the world…

The good stuff begins around 7:30 as Faber goes Baumgartner… and gives the Bloomberg hosts a taste of reality we suspect they have not heard from their run-of-the-mill portfolio manager sheep guests…

Faber on President Obama’s reelection:

“I am surprised with the reelection of Mr. Obama. The S&P is only down like 30 points. I would have thought that the market on his reelection should be down at least 50%…I think Mr. Obama is a disaster for business and a disaster for the United States. Not that Mr. Romney would be much better, but the Republicans understand the problem of excessive debt better than Mr. Obama who basically doesn’t care about piling up debt. You also have in the background Mr. Bernanke, who with artificially low interest rates enables the debt to essentially escalate endlessly.”

Read moreFamous Investor Marc Faber’s Asset Protection Plan: ‘Buy A Machine Gun’, No Really, ‘You’re Right, Buy A Tank’ (Video)

Famous Investors Marc Faber & Jim Rogers On Our ‘Clueless, Ignorant, Dangerous’ Leaders (CNBC Video)

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– Marc Faber & Jim Rogers On Our “Clueless, Ignorant, Dangerous” Leaders (ZeroHedge, Oct 4, 2012):

While the discussions between these two legends varied from Phat Phong nightlife to Dow 30,000, and from China bullishness to AAPL bearishness, it was the conversation about the actions of Bernanke, and more importantly our political leaders that summed up perfectly the dreadful reality in which we find ourselves. The punchline: “It is very dangerous to have ignorant people believing that they know something.”

Rogers is bullish China long-term but buying Chinese stocks only selectively…

Faber sees under-the-surface weakness in US equities and while central banks could print us to Dow 30,000; gold and other commodities will be astronomical by then…

Faber is bearish AAPL, believes its a bubble – but too dangerous to short…

Both are uber-bearish central-bankers and politicians…

Marc Faber: “Both candidates are clueless and completely artificial…”

Jimmy Rogers: “It’s worse than clueless, because they think they know what they’re doing.. and so they are dangerous! If they were just clueless and looked out the window, we wouldn’t have a problem, but they think they have the solution – but their solutions are what’s making the situation worse…”

Marc Faber: “That is precisely the point. It is very dangerous to have ignorant people believing that they know something!”

Summed up perfectly, we believe.


Must watch – especially to hear the CNBC anchor squirming…

Have The Last 5 Years Been Worse Than The Great Depression?

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AGAIN: This is the ‘Greatest Depression’.

– Have the Last 5 Years Been Worse than the Great Depression? (ZeroHedge, Sep 21, 2012):

What Do Economic Indicators Say?We’ve repeatedly pointed out that there are many indicators which show that the last 5 years have been worse than the Great Depression of the 1930s, including:

Mark McHugh reports:

Velocity of money is the  frequency with which a unit of money is spent on new goods and services.   It is a far better indicator of economic activity than GDP, consumer prices, the stock market, or sales of men’s underwear (which Greenspan was fond of ogling).  In a healthy economy, the same dollar is collected as payment and subsequently spent many times over.  In a depression, the velocity of money goes catatonic.  Velocity of money is calculated by simply dividing GDP by a given money supply.  This VoM chart using monetary base  should end any discussion of what ”this” is and whether or not anybody should be using the word “recovery” with a straight face:

In just four short years, our “enlightened” policy-makers have slowed money velocity to depths never seen in the Great Depression.

(As we’ve previously explained, the Fed has intentionally squashed money multipliers and money velocity as a way to battle inflation. And see this)

Indeed, the number of Americans relying on government assistance to obtain basic food may be higher now that during the Great Depression.  The only reason we don’t see the “soup lines” like we did in the 30s only because of the massive food stamp program.

Read moreHave The Last 5 Years Been Worse Than The Great Depression?

Marc Faber: Own Gold – ‘Don’t Store It In The US, The Fed Will Take It Away From You One Day’

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For those who have missed the video.

– Faber: Own Gold – “Don’t Store It In The U.S., The Fed Will Take It Away From You One Day” (ZeroHedge, Sep 17, 2012):…

In another excellent Bloomberg interview, Faber said that “the trend for gold prices will be steady but the trend for the dollar and other currencies will be down. So in other words gold in dollar terms will trend higher.”

“How high it will go, you will have to call Mr Bernanke and at the Fed there are other people who actually make Mr Bernanke look like a hawk and so they are going to print money.”

Faber is on record as to the importance of owning physical gold and he again warned about the importance of owning gold but not storing it in the U.S.

“You ought to own some gold but don’t store it in the U.S., the Fed will take it away from you one day,” Faber astutely noted.

He said that Bernanke is a money printer and this could lead to massive inflation and the Dow Jones at 20,000, 50,000 or 10 million.

Faber cheerily predicted that the “the Federal Reserve’s monetary policy will destroy the world” and “eventually we will have a systemic crisis and everything will collapse.”

…

How QE3 Will Make The Wealthy Even Wealthier While Causing Living Standards To Fall For The Rest Of Us

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Related info:

– New Bankster Bailout Disguised As QE3

– QE3: Helicopter Ben Bernanke Unleashes An All-Out Attack On The U.S. Dollar

– Marc Faber: ‘Fed Will Destroy The World’ (Video)

– Ron Paul On QE3: ‘Country Should Panic Over Fed’s Decision’ – ‘We Are Creating Money Out Of Thin Air’ – ‘We’ve Lost Control!’ (Video)

“When a country embarks on deficit financing and inflationism (= QE 3) you wipe out the middle class and wealth is transferred from the middle class and the poor to the rich.”
– Ron Paul

“The Federal Reserve System is nothing more than legalized counterfeit.”
– Ron Paul

– How QE3 Will Make The Wealthy Even Wealthier While Causing Living Standards To Fall For The Rest Of Us (Economic Collapse, Sep 16, 2012):

The mainstream media is hailing QE3 as a great victory for the U.S. economy.  On nearly every news broadcast, the “talking heads” are declaring that Ben Bernanke’s decision to pump 40 billion dollars a month into our financial system is definitely going to help solve our economic problems.  The money for QE3 is being created out of thin air and this round of quantitative easing is going to be “open-ended” which means that the Federal Reserve is going to keep doing it for as long as they feel like it.  But is this really good for the average American on the street?  No way.  Despite two previous rounds of quantitative easing, median household income has still fallen for four years in a row, the employment rate has not bounced back since the end of the last recession, and new home sales have remained near record lows.  So what have the previous rounds of quantitative easing accomplished?  Well, they have driven up the prices of financial assets.  Those that own stocks have done very well the past couple of years.  So who owns stocks?  The wealthy do.  In fact, 82 percent of all individually held stocks are owned by the wealthiest 5 percent of all Americans.  Those that have invested in commodities have also done very nicely in recent years.  We have seen gold, silver, oil and agricultural commodities all do very well.  But that also means that average Americans are paying more for basic necessities such as food and gasoline.  So the first two rounds of quantitative easing made the wealthy even wealthier while causing living standards to fall for all the rest of us.  Is there any reason to believe that QE3 will be any different?

Read moreHow QE3 Will Make The Wealthy Even Wealthier While Causing Living Standards To Fall For The Rest Of Us

Marc Faber: Central Bankers Are ‘Counterfeit Money Printers’ – ‘If I Had Messed Up As Badly As Bernanke I Would For Sure Resign’ – ‘QE Helps Rich People’

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From the article:

“If we have an economic crisis in the Western world it’s because the government makes up 50 percent or more of the economy. This is a cancer that is taking away people’s freedom,”

See also:

– How QE3 Will Make The Wealthy Even Wealthier While Causing Living Standards To Fall For The Rest Of Us

Watch the interview HERE.

– Marc Faber: If I Were Bernanke, I Would Resign (CNBC, Sep 14, 2012):

Central bankers are “counterfeit money printers” and Federal Reserve Chairman Ben Bernanke should resign for messing up the U.S. economy so badly, Marc Faber, author of the Gloom, Doom and Boom, told CNBC on Friday.

He said Bernanke was one of the main proponents of an ultra-expansionist economic monetary policy that was to blame for the latest financial crisis.

“If I had messed up as badly as Bernanke I would for sure resign. The mandate of the Fed to boost asset prices and thereby create wealth is ludicrous — it doesn’t work that way. It’s a temporary boost followed by a crash,” Faber said.

Faber, who rose to prominence after predicting the 1987 financial crash report and dubbed “Dr Doom” for his negative predictions, said: “This unlimited QE (quantitative easing) , buying mortgage-backed securities (MBS) and continuing operation twist  has the implication of simply having asset prices go up and the money flows down to the Mayfair economy,” Faber said.

A Mayfair economy is one which benefits the wealthier and better off in society. Faber said this latest round of QE would not help the “man on the street”.

“QE helps rich people whose asset prices go up and whose net worth then increases but it doesn’t flow to the man on the street who is faced with higher costs of living with price rises. You just have a small economy that is booming but the majority of the economy is damaged by QE,” he said.Bernanke announced on Thursday that the Fed would buy $40 billion a month in MBS, giving the impression that this time around there would be no time limit to the program, which would only stop once a sustained uptick in employment is visible.

“The money printers are responsible for this crisis. If we continue with this expansionist monetary policy we won’t be facing a fiscal cliff it will be a fiscal grand canyon,” he added.

Read moreMarc Faber: Central Bankers Are ‘Counterfeit Money Printers’ – ‘If I Had Messed Up As Badly As Bernanke I Would For Sure Resign’ – ‘QE Helps Rich People’

Marc Faber: ‘Fed Will Destroy The World’ (Video)

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– Marc Faber: “Fed Will Destroy The World” (ZeroHedge, Sep 14, 2012):

“Everything will collapse” is the consequence Gloom, Boom, & Doom’s Marc Faber sees from the Fed’s latest ‘stimulus’ (and the fallacy and misconception of how money-printing can help employment). In a wondrously clarifying interview on Bloomberg TV this morning, Faber explained why he was ‘happy’, since “the asset values of his holdings will go up” but as a responsible citizen he is worried because “the monetary policies of the US will destroy the world.“ It truly is class warfare under a veil of ‘its good for you’ as he notes: “the fallacy of monetary policy in the U.S. is to believe this money will go to the man on the street. It won’t. It goes to the Mayfair economy of the well-to-do people and boosts asset prices of Warhols.” Congratulations, Mr. Bernanke.

Must-watch (or read the transcript) – it is truly remarkable.

Faber on more Federal Reserve stimulus:

“It is difficult to tell what will happen. I happen to believe that eventually we will have a systemic crisis and everything will collapse. But the question is really between here and then. Will everything collapse with Dow Jones 20,000 or 50,000 or 10 million? Mr. Bernanke is a money printer and, believe me, if Mr. Romney wins the election the next Fed chairman will also be a money printer. And so it will go on. The Europeans will print money. The Chinese will print money. Everybody will print money and the purchasing power of paper money will go down. And I don’t like bonds. I don’t particularly like equities, but I think equities are a better space to be in than bonds.”

Read moreMarc Faber: ‘Fed Will Destroy The World’ (Video)

Gina Rinehart (‘The Richest Woman In The World’) Is A BUBBLE, … Calls For For Australians To Take A Pay Cut, ‘Because African Workers Are Willing To Earn Just $2 A Day’

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– ?World’s richest woman calls for Australians to take a pay cut – ‘because African workers are willing to earn just $2 a day’ (Daily Mail, Sep 5, 2012):

– Gina Rinehart Is A Bubble (ZeroHedge, Sep 5, 2012):

Last week she said:

If you’re jealous of those with more money, don’t just sit there and complain. Do something to make more money yourself — spend less time drinking, or smoking and socializing and more time working.

Today she claimed that Australians should be willing to work for less than $2 a day:

Australian mining magnate Gina Rinehart has criticised her country’s economic performance and said Africans willing to work for $2 a day should be an inspiration.

Ms Rinehart is said to make nearly A$600 (£393) a second.

The richest woman in the world is making an increasing number of public appearances, and speaking of increasingly controversial topics.

Read moreGina Rinehart (‘The Richest Woman In The World’) Is A BUBBLE, … Calls For For Australians To Take A Pay Cut, ‘Because African Workers Are Willing To Earn Just $2 A Day’

Marc Faber On Keynesian Folly, The ‘Missing’ Inflation, And Bubble-Blowing (Video)

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– Marc Faber On Keynesian Folly, The ‘Missing’ Inflation, And Bubble-Blowing (ZeroHedge, Aug 22, 2012):

In as-comprehensive-an-explanation-as-we-have-seen of the monetary malfeasance and misunderstanding of the standard Keynesian central-banker, Gloom-Boom-Doom’s Marc Faber addressed an instutional audience in the Middle East earlier this year. Faber begins by explaining his (correct) view that ‘Keynesian’ intervention into the free-market or capitalistic society (with fiscal and monetary measures), in order to ‘smooth’ the business cycle, has in fact created a more violent business cycle – as they attempt to address long-term structural problems with short-term fixes (or bubbles). His lecture expands from his insight that in 1970 not a single investment bank was public – they were all private partnerships (implicitly playing with their own money as opposed to other-people’s – dramatically impacting the risk profile in the world) to the notion that central bank money printing (pushing dollars out the door) does have inflationary symptoms – but they do not necessarily have to show up in wages or CPI in the US (think Chinese wage inflation, or commodity price rises, or Aussie housing bubbles). Central bankers can determine the quantity of money but they cannot determine what we do with those USD bills. Must watch.Faber covers it all – from macro-economics to energy supply-and-demand and from the consequences of incessant money printing and how to hedge for the long-term.

With volumes still muted, and a general malaise of hand-sitters, it seems now is a great time to spend 45 minutes clarifying your perspective on just what the experimental efforts of our global elite is doing to the world – and whether that is a good thing economically or not… we suspect the conclusion will not surprise you…


YouTube

Marc Faber On Europe: Think GERxit Not GRExit (Video)

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– Faber On Europe: Think GERxit Not GRExit (ZeroHedge, July 2, 2012):

In line with our views on Europe’s endgame, Marc Faber opined on Bloomberg TV this morning that if he “was running Germany, [he] would have abandoned the eurozone last week”. We suspect that given the lack of real steps forward and no additional exposure (as yet) for Germany that they can hang on a little longer before they reach the final phase of the game-theoretically optimal exit (that Credit Suisse and us share) of a mercantilist GERxit occurring sooner than many think (benefiting from deposit inflows and low-EUR-based high profitability from exports for as long as possible and not a moment longer). The “cosmetic fix” of this latest summit, as Faber calls it, simply does not solve the fundamental problem of over-investment in the euro-zone. He is bottom-fishing in some European equities (though avoiding banks) and is not long the Euro here as he sees the modest rally in risk assets in Europe as merely a reflection of illiquidity and a grossly oversold market reverting on ‘not a total disaster’ though he reminds us early on that “pooling 100 sick banks does not make them healthy.”

Faber on the eurozone crisis:

Read moreMarc Faber On Europe: Think GERxit Not GRExit (Video)

Marc Faber Sees A 1987-Like Crash Approaching (Video)

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– Marc Faber Sees A 1987-Like Crash Approaching (ZeroHedge, May 10, 2012):

When given the opportunity to expand on his thoughts, Marc Faber, of the Gloom, Boom, & Doom Report, provides dismally clarifying detail on the state of the world. In this excellent (must-watch on a day when nothing changed but European stocks dead-cat-bounced) Bloomberg TV interview, the admittedly ursine Faber reflects on the US (slowing of revenue growth and the real linkages to European stress) noting that unless we get a huge QE3, there will be “a crash, like in 1987” noting he believes we have seen the highs for the year; on the likelihood of QE3 (agreeing with us that the Fed won’t act unless asset markets plunge first); on Greece’s exit of the Euro and whether policy-makers can manage the exit properly “bureaucrats in Brussels and the media are brainwashing everybody that if Greece exited the euro, it would be a disaster. My view is the best would be to dissolve the whole euro zone“; on the difference between investment markets and economic reality (thanks to financial repression); and on the global race-to-debase “I do not have a high opinion of the U.S. government, but the bureaucrats in Brussels make the government in the U.S. look like an organization consisting of geniuses. The bureaucrats in Brussels are completely useless functionaries“.

Faber on whether he still thinks that profit margins will shrink and record profits seen will be no more for U.S. corporations:

Read moreMarc Faber Sees A 1987-Like Crash Approaching (Video)

Famous Investor Marc Faber: US ‘Financial Mess’ Will Force Government To Take Your Gold

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Related info:

– Warren Buffett Priced In Gold: Can You Say Bubble? Or, More To The Point, Can You Say Bursting?

– Ron Paul To Ben Bernanke: ‘People Lose Trust In The Government Because You Lie To Them About Inflation’ – ’98% Of The Dollar Value Is GONE From The 1913 Dollar!’

– Chinese Central Banker: ‘Gold Is The Only Safe Haven Left’

– Gold: 1980 vs Today (Video)

– Asia Buying Gold On Dips – ‘Empires May Fall, Currencies May Change … Gold Will Always Survive’ VERSUS Warren Buffett: Gold Has No Value

– ‘Gold Rush’: China Bought Around 500 Tons Of Gold In 2011 To Diversifiy Its Assets (RT – Video)

Don’t forget to find a safe place for your PMs:

– US DEPARTMENT OF HOMELAND SECURITY HAS TOLD BANKS – IN WRITING – IT MAY INSPECT SAFE DEPOSIT BOXES WITHOUT WARRANT AND SEIZE ANY GOLD, SILVER, GUNS OR OTHER VALUABLES IT FINDS INSIDE THOSE BOXES!

– James G. Rickards of Omnis Inc.: Get Your Gold Out Of The Banking System

Got gold and silver?

– Marc Faber: US ‘Financial Mess’ Will Force Government to Take Your Gold (Money News, Mar 2, 2012):

Economist Marc Faber, publisher of the Gloom, Boom and Doom report, says the government will seize privately held gold, even as he continues to buy physical gold himself.

“I prefer to play the commodity space by owning physical gold,” Faber tells Chiefsworld. “If I were an American, I would store it outside the U.S., because in the U.S., it is not completely unlikely that they will eventually take it away.”

“Like in 1933, gold will be purchased back by the government” because eventually the financial mess will be so bad that gold prices “will go ballistic, and the government will take away something from a minority, and not many people own gold.”“When gold prices shoot up, it will be quite a popular measure to take it away from these rich people,” Faber says. “It’s happened before.”

From May 1, 1933, until 1974, U.S. citizens could no longer hold gold as a protection against paper money, which also lost its gold backing at the same time.

Foreign central banks could continue to exchange the U.S. dollars that came into their possession – known as eurodollars for decades — for gold and did so particularly when the U.S. dollar was devalued and then floated against the gold price in 1971.

Faber says he’s not in a hurry to buy gold, but accumulates gold every month because he believes the gold market is still under a correction.

Faber notes that the Chinese economy is slowing, and says it will slow further and perhaps crash at some point, which is why he is staying out of commodities other than gold.

Read moreFamous Investor Marc Faber: US ‘Financial Mess’ Will Force Government To Take Your Gold

Marc Faber: ‘Ron Paul Would Be A Very Good President’ (Bloomberg – Video)

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– Marc Faber: “Ron Paul Would Be A Very Good President” (ZeroHedge, Feb. 3, 2012):

While Marc Faber shares the usual stock of insightful market commentary, together with timing inflection points, and extended thoughts in the attached Bloomberg TV clip, it is the fact that he has officially joined Bill Gross, and so many others, in supporting the candidacy of Ron Paul as president. It is rather sad that only those who see beyond the surface of the current pyramid scheme facade, are bold enough to endorse the only man who is right for the White House. Fast forward to 15 minutes into the video to hear Marc Faber: “Ron Paul would be a very good president.”

Other recent Ron Paul endorsements:

and of course,

See also:

– L.L. Bean Heiress Supports Ron Paul 2012 (CNN, Jan. 29, 2012)

– Freedom Watch: Ron Paul Poised For An Upset – More SC Senators Come Forward to Endorse Ron Paul For President (Video)

– Freedom Watch With Judge Andrew Napolitano: We The People vs. Mitt Romney – Ron Paul 2012!

– Senator Tom Davis From South Carolina Endorses Ron Paul (Video)

– Gerald Celente Endorses Ron Paul For President – ‘The Entire Economic System Is Collapsing’ – ‘Fascism Has Come To America In Every Form’ (Video – Nov. 29, 2011)

Marc Faber’s Latest Rant On Global Monetization Wars (Video)

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– Faber’s Latest Rant On Global Monetization Wars (ZeroHedge, Jan. 13, 2012):

There is a little for everyone in Marc Faber’s latest appearance on CNBC. The infamous boomer (and doomer) believes (as we do) that today’s downgrades are less significant for stocks (at least until the realization that banks and more importantly insurance companies are about to be cut as well – keep a close eye out on Allianz and Generali (of ASSGEN fame) – it is not incidental that they are abbreviated to A&G, just one letter away from our own AIG) as it is largely priced in but the equity market’s rally of the last few weeks (with its lack of breadth and volume) is strongly suggestive of a bear-market rally (as opposed to the decoupling bull market that so many hope for). His view quite simply is that the ECB has undergone a backdoor monetization and without this the EUR would be significantly stronger especially given the huge short-interest (though he sees the trend for EUR is down). However, he remains unenthusiastic at the inevitable outcome – suggesting the majority of European nations deserve a CCC rating (which is clearly not priced in) and that the USA should not be AAA (noting that even Germany has huge unfunded liabilities as it writes check after check to save its socialist sorority sisters).

Admitting that he was wrong on US Treasuries (short) last year, he still worries of the long-term value in holding the ponzi-paper and addresses what seemed like the theory-du-jour that a weaker EUR is good for European exports and so all-is-well in the world by pointing out (among other things) that many large European corporations have huge amounts of USD-denominated debt making their debt servicing costs much higher. His perspective on Europe is interesting, concerned that we may see one country say enough-is-enough and leave the Euro, he believes the US outperformance over Europe will unwind and that quality companies in Europe and Emerging Markets are the place to be for investors. Noting that they are admittedly not compelling values he points to the difficulty of valuing anything in a zero-interest rate environment. The worse the global economy looks, the weaker the Chinese economy performs,  and the more the reaction will be money printing which will lift equity prices (whereas the real economy is faltering and standards of living going down fast) leaving him holding gold at the core but realizing stocks will rise nominally.

Finally, his “black swan” scenario is some country saying “we’ve had enough. We are exiting the euro.” Which brings us to the issue of the Greek coercive restructuring which now appears to be just a matter of weeks if not days away. And once Greece pulls the plug, and the Eurozone does not implode (hypothetically), it will set an example whereby more and more countries do the same, until finally the system does crash under its own weight, as everyone does a CDS-triggering restructuring, in effect tearing the Eurozone from the inside.

Marc Faber On CNBC: Don’t Store Your Gold In The United States!

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And here is one of many good reasons why:

– US DEPARTMENT OF HOMELAND SECURITY HAS TOLD BANKS – IN WRITING – IT MAY INSPECT SAFE DEPOSIT BOXES WITHOUT WARRANT AND SIEZE ANY GOLD, SILVER, GUNS OR OTHER VALUABLES IT FINDS INSIDE THOSE BOXES!

Don’t miss:

– 5 Top Reasons Why The Canadian Dollar Will Not Survive A US Dollar Collapse – Why You Should Avoid Storing Gold in Canada: Kitco Raid

– James G. Rickards of Omnis Inc.: Get Your Gold Out Of The Banking System

– Marc Faber: Don’t Store Your Gold In The United States (ZeroHedge, Aug 25, 2011):

As usual, the CNBC hosts were completely dumbfounded.

Phoning in from Sao Paulo, Brazil, investment guru Marc Faber was a guest on CNBC last week, once again telling the unvarnished truth about the state of the world economy and bankrupt western nations.

This time, Faber had a very clear message: that everyone should own *physical* gold… and what’s more, they should store it outside of the United States:

“I prefer if investors hold physical gold in a safe deposit box, ideally outside the US, in various locations… Switzerland, Singapore, Hong Kong, Australia, Canada… I think it’s important in today’s very uncertain world to diversify, not only the various asset classes… but also the custody of your assets should be in different jurisdictions.”

His hosts couldn’t believe it. -NOT- store in the United States, the bastion of freedom and security??!?! What lunacy!

CNBC: “Uh, so do you thus not trust US banks or US custodians? Do you think they might fail or abscond with the gold?”

Guffaws and incredulous snickers emerge from the hosts.

Faber: “I don’t trust anyone.”

Uncomfortable silence.

CNBC: “Hmmm. Interesting.”

Completely devoid of anything intelligent to say on the topic of sovereign diversification, they quickly changed the subject to talk about equities… but Faber soon came back to his original point.

Among other things, he mentioned that banks in Asia are FAR more stable and sound than they are in the west for not having invested so heavily in dead weight assets like Greek bonds or US mortgage-backed securities.

I couldn’t agree more.

Read moreMarc Faber On CNBC: Don’t Store Your Gold In The United States!

Marc Faber: The ‘Great (Monetary) Reset’ Will Destroy Cash

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– Marc Faber: The “Great (Monetary) Reset” Will Destroy Cash (King World News, July 25, 2011):

But basically the ultimate currency and the ultimate safe asset is gold and silver.

…

…I just calculated if we take an average gold price of say around $350 in the 1980’s and then we compare that to the average monetary base in the 1980’s, and to the average US government debt in the 1980’s…but if I compare this to the price of gold to these government debts and monetary base, then gold hasn’t gone up at all. It’s gone actually against these monetary aggregates and against debt it has actually gone down. So I could make the case that probably gold is today very inexpensive….

“Well as I look at Europe and I look at the US and especially at politicians and at central banks, I think the way it will play out is that they will have further massive monetary stimulus and that eventually we will have a reset in the global economy.

But it won’t happen right away this reset, and only after the money printing will have essentially exhausted itself, when it reaches a painful level like in Latin America when we had inflation around 70%, 80% per annum or more, it reached a very painful level where reform was then initiated.”

When asked about the eventual monetary reset he expects and how he sees that playing out Faber had this to say, “Well when the reset comes it will be say a hundred dollar bill will be exchanged for a one dollar bill or something like this. Before we have the Great Reset, the government they will increase the war effort under whatever excuse that will be but I think that is the likely course of action…The wealth destruction will be interesting because…the people that suffer the most before the reset happens are actually the cash holders.”

Marc Faber: Mr. Bernanke is a Murderer of the Middle Class – QE Is How The Elites Are Getting Their Revenge On Illiterate Kids Born Out Wedlock

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This is what is really happening in the US …

“When a country embarks on deficit financing (Obamanomics) and inflationism (Quantitative easing) you wipe out the middle class and wealth is transferred from the middle class and the poor to the rich.”
– Ron Paul

… and this would have happened under any elite puppet President and Fed chairman, not just under Obama and Bernanke.

The elitists are destroying the dollar and bankrupting America in order to destroy what is left of the constitution, the middle class and freedom.

You can protect your assets with gold and silver, as I’ve told people since 11 years now and online since the beginning of Infinite Unknown.

This is not a revenge as Marc Faber calls it. This is the master plan of the elitists to manifest their dream:

A fascist New World Order.

Wake up!

– The No.1 Trend Forecaster Gerald Celente’s Dire Warning For The World

Marc Faber really gets started from 7:00 minutes into the video.

– Marc Faber: QE Is How The Elites Are Getting Their Revenge On Illiterate Kids Born Out Wedlock:

Give Marc Faber credit: Among the doomers, he sure does have a way with ideas and rhetoric.

“Dr. Doom” made an appearance on Squawk Box this morning, and he explained what QE is really all about.

See, in a democracy, everyone has one vote. If you’re rich and industrious and hard working, you have one vote. And if you’re illiterate and were born out of wedlock and are living on welfare, you have the same, one vote?

In Faber’s view, the elites are getting revenge.

By printing money, the earnings power of the proletariat is diminishing, while the assets held by the wealthy are going up. And at the same time, the wealthy are outsourcing more and more production to China, to further rob the masses.

So in otherwords, all we’re seeing is wealthy-on-poor class warfare.

– Marc Faber: Mr. Bernanke is a Murderer of the Middle Class:

When asked about silver specifically Faber remarked, “Well my friend Eric Sprott he maintains that there is a genuine shortage of silver and that may be the case so silver may still move up…Now with the loss of purchasing power of the dollar and other currencies people are concerned if they have say a million or a billion dollars that the value of these dollars will one day be next to nothing.

So they have to invest in something and so they look for real estate, they look for equities and of course they come to realize slowly, I have to say very slowly that gold and silver are not commodities in the sense of industrial commodities, but that they are currencies.  Precious metals are basically currencies that are honest because you can’t increase the supply indefinitely.  You can’t have QE2, QE3, QE4 in the gold market.

…If you print money everything will go up…and now the money printing doesn’t go into housing because we have an oversupply of housing, but it goes into equities and for Mr. Bernanke unfortunately into commodities.  And this is lifting the cost of living of the median household, of the typical household in the US…Mr. Bernanke is a murderer, he’s a murderer of the middle class and the working class.”

Marc Faber: ‘I Think We Are All Doomed’

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Added: 24.02.2011

(Complete PDF transcript)

All who enjoy hearing a meaty Marc Faber fire and brimstone sermon, that cuts through the bullshit, will be happy to know that the Gloom, Boom and Doom author conducted a 40 minute interview with the McAlvany Financial Group, which covers all the usual suspects: gold, silver, precious and industrial metals, the “crack up boom”, the future of the Ponzi and capital markets in general and much more. Of course, it wouldn’t be a Faber interview without the requisite soundbite: “I think we are all doomed. I think what will happen is that we are in the midst of a kind of a crack-up boom that is not sustainable, that eventually the economy will deteriorate, that there will be more money-printing, and then you have inflation, and a poor economy, an extreme form of stagflation, and, eventually, in that situation, countries go to war, and, as a whole, derivatives, the market, and everything will collapse, and like a computer when it crashes, you will have to reboot it.” Of course, on a long enough timeline…

Key extract from the Faber speech:

Read moreMarc Faber: ‘I Think We Are All Doomed’

Meltup (Documentary): The Beginning Of A US Currency Crisis And Hyperinflation.

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Added: 13. Mai 2010

Marc Faber: China May ‘Crash’ in Next 9 to 12 Months

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marc-faber

May 3 (Bloomberg) — Investor Marc Faber said China’s economy will slow and possibly “crash” within a year as declines in stock and commodity prices signal the nation’s property bubble is set to burst.

The Shanghai Composite Index has failed to regain its 2009 high while industrial commodities and shares of Australian resource exporters are acting “heavy,” Faber said. The opening of the World Expo in Shanghai last week is “not a particularly good omen,” he said, citing a property bust and depression that followed the 1873 World Exhibition in Vienna.

“The market is telling you that something is not quite right,” Faber, the publisher of the Gloom, Boom & Doom report, said in a Bloomberg Television interview in Hong Kong today. “The Chinese economy is going to slow down regardless. It is more likely that we will even have a crash sometime in the next nine to 12 months.”

Read moreMarc Faber: China May ‘Crash’ in Next 9 to 12 Months

Greek Junk Contagion Presses EU to Broaden Bailout – ECB President Jean-Claude Trichet at CFR (April 26, 2010)

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At the end of the following article famous investor Marc Faber had to say this:

“The best would be to kick out Greece and the countries that abuse the system,” Faber said in an interview. “They didn’t have the fiscal discipline that was essentially imposed by EU.”

It seems that there are more important things for ECB President Jean-Claude Trichet to do right now than to speak at the Council on Foreign Relations in New York, unless you know that those elitists at Bilderberg, CFR and the Trilateral Commission, that rule the governments, the central banks, the corporations and the media have created this entire financial crisis.

The elite is looting the people in the US, Europe and everywhere else.

The elite is bankrupting the people until they beg for world government and the New World Order.

What could Greece do?

– The Solution For Greece (Max Keiser, Matt Taibbi and Catherine Austin Fitts)

Message to the people of Greece: Avoid the IMF like hell, because the IMF is hell.

The people in Greece seem to have a much better understanding of what is happening to them than the people in the US and the UK.

Greek Junk Contagion Presses EU to Broaden Bailout (Update2)

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Jean-Claude Trichet, president of the European Central Bank, speaks at the Council on Foreign Relations in New York, on April 26, 2010. (Bloomberg)

April 28 (Bloomberg) — Europe’s worsening debt crisis is intensifying pressure on policy makers to widen a bailout package beyond Greece after a cut in the nation’s rating to junk drove up borrowing costs from Italy to Portugal and Ireland.

As German Chancellor Angela Merkel delays approval of a 45 billion-euro ($59 billion) Greek rescue, the crisis is spreading. Portugal’s benchmark stock index yesterday fell the most since the aftermath of Lehman Brothers Holdings Inc.’s collapse, while the extra yield that investors demand to hold Italian and Irish debt over bunds remained near yesterday’s 10-month high.

Read moreGreek Junk Contagion Presses EU to Broaden Bailout – ECB President Jean-Claude Trichet at CFR (April 26, 2010)

Marc Faber: Governments Will ‘Bankrupt Us’

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– Gerald Celente: Obama’s Financial Reform Is Just A Show

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Date: 22nd Apr 10

2 of 2:

Date: 22nd Apr 10

Marc Faber: It’s Dead Simple, The Supply Of Dollars Will Grow Way Faster Than The Supply Of Gold

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The Fed, creating the US dollar out of thin air, is the real Ponzi scheme here and not gold.


Marc Faber’s recommendation to continue buying gold every month, forever, received a full broadside on CNBC.

[At 3:45 in the video]:

“You see sir, I am a huge fan of yours, but I have a real difficulty here that I’d like you to help me out with. If I’m looking to invest in my retirement, I have a choice of investing in the American stock market, which is basically a play on change, bright people, working internationally in teams, around the world, and chasing the margin every day of their lives… OR… I can do what you’re suggesting and buy an inanimate object that sits in a dark, damp cellar somewhere, that may or may not be in short supply, may or may not glitter in the correct light, but really has no productive power. Isn’t gold the ultimate Ponzi scheme?”

Faber’s response:

“No, I don’t think it’s a Ponzi scheme, and it’s not a liability of someone else… it’s quantity cannot be increased at the same rate as you can print money… I’m not saying that the dollar will go straight away down because other currencies like the euro are even worse at the present time. But eventually if you print money, the purchasing power will lose.”

Read moreMarc Faber: It’s Dead Simple, The Supply Of Dollars Will Grow Way Faster Than The Supply Of Gold