Publisher Marc Faber discusses the fragile state of the US and global financial systems… how rising inflation will affect the average American… how soon the bubble will burst… and why gold and silver will triumph.
Here are a few highlights:
"The US is a country that likes to create trouble, but they don’t like to clean up things."
"We've now been five years into the bull market and the US economy bottomed out in June 2009. We already had a crack-up boom—not in the economy of the typical household, but in the economy of the super-well-to-do people, whose asset prices rose dramatically and as a result created a huge wealth inequality."
"My view would be that we have already printed so much money, and to accelerate it will be bringing about numerous other problems, so my time frame is that the [bubble], maximum, will burst in three years' time."
"Once the collapse happens, the power of central banks will be curtailed greatly because people will realize who brought along first the Nasdaq bubble in 1999: The Federal Reserve. Who brought about the housing bubble between 2001 and 2007? The Federal Reserve. And who is bringing now along another great credit bubble and asset bubble? The Federal Reserve."
"I don’t think that anything is very cheap, but if I have to compare different asset prices, say real estate, stocks, bonds, commodities, gold, art, and so forth—and old cars—then I think that gold and silver [are] relatively inexpensive because they have had big corrections already, and you should not forget that the global bond market now is over $100 trillion."
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Dear Mark Faber,
I presume, your three years assumed time frame is too long, and I doubt, US Economy will not survive or surpass even this current year 2014 too, Down Process begun in 2007 is still not furnished, and in between bounce we have witnessed, can be treated as more dangerous and illusive.
This bounce have turned original problem far more complex as well deepen, so continuation of 2007's crisis, without said bounce effect was much batter for getting some sound grounding and settlement of over heated and highly inflated economies of whole world, and therefore, At this point, i must add something like, " This situation will not limiting for just US, but all most entire world will be caught therein in a extremely disastrous mode."
I want to disagree with this;
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Once the collapse happens, the power of central banks will be curtailed greatly because people will realize who brought along first the Nasdaq bubble in 1999: The Federal Reserve. Who brought about the housing bubble between 2001 and 2007? The Federal Reserve. And who is bringing now along another great credit bubble and asset bubble? The Federal Reserve."
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Critical thinking has been successfully eliminated from the public in general by means of the public education (indoctrination) system, so the "people" (sheep) won't do anything except ask the masters what they should think and how they should vote.
Right on, Frank.
How sad the that the Americans have been suckered by the politicians and the media lapdogs together with the rest of the U.S. major institutions such as "education", Fortune 500 leadership and more.
A little research easily discloses common membership of these "leaders" in the same ballclub...
If you don't keep gold or silver in the US, where do you put it. Do you buy GLD or SLV or bullion/coins?
Just a suggestion, not necessarily an endorsement:
http://www.bullionvault.com/
http://en.wikipedia.org/wiki/BullionVault