The US Dollar Will go to value Zero Said Faber on Bloomberg
The dollar will become worthless when people eventually realize the fiscal situation in the U.S. is a "disaster," said
Marc Faber, Publisher of the Gloom, Boom & Doom report.
"It will go to a value of zero eventually, but not right now," Faber said today in an interview on Bloomberg Television. "Looking at Mr. Obama's administration, it should already be there. I think it will take about 10 years until people realize that the fiscal situation of the U.S. is a complete disaster."
"In my opinion, about 50 percent of tax revenues will be used just to cover the interest payments on the government debt. That is unsustainable. Then you'll really be forced to print money."
The best investments right now are foreign currencies, commodities and equities, Faber said. Stocks will continue to benefit from the actions of Federal Reserve Chairman, "As soon as the S&P drops to 900 or 800, he will print money again. He's a money printer. He's nothing else."
Marc Faber, Publisher of the Gloom, Boom & Doom report.
"It will go to a value of zero eventually, but not right now," Faber said today in an interview on Bloomberg Television. "Looking at Mr. Obama's administration, it should already be there. I think it will take about 10 years until people realize that the fiscal situation of the U.S. is a complete disaster."
"In my opinion, about 50 percent of tax revenues will be used just to cover the interest payments on the government debt. That is unsustainable. Then you'll really be forced to print money."
The best investments right now are foreign currencies, commodities and equities, Faber said. Stocks will continue to benefit from the actions of Federal Reserve Chairman, "As soon as the S&P drops to 900 or 800, he will print money again. He's a money printer. He's nothing else."
Source: Marc Faber Channel.com, October 29, 2009
Comment
-
Comment by youhavetoforgiveme on November 2, 2009 at 2:14pm
-
10 years??? can't they hurry up? :P
"Destroying the New World Order"
THANK YOU FOR SUPPORTING THE SITE!
Latest Activity
- Top News
- Everything
Shadows in the Wind
If you think that life is but a game you can winYou’re just a shadow in the windConveniently…See More
Mossad: we create a pretend world, we are a global production company... the world is our stage
60 Minutes interviews alleged Mossad agent"we create a pretend world, we are a global production company......the world is our stage."_______________________...
The Alvin II Encounter: Was There A Living Dinosaur Involved?
The year is 1965 in the Caribbean islands at a 5-thousand-foot depth in the dark Atlantic waters.…See More
All In The Family | Mike Meets Archie For The First Time | The Norman Lear Effect
Gloria (Sally Struthers) has a new boyfriend called Michael (Rob Reiner) and she is very excited to introduce him to her parents (Carroll O'Connor and Jean S...
entitlement
Congress makes Social Security that we paid in our whole lives into to some government giveaway and…
Death Threats for Assisting ICE?
An Idaho Bar Helped ICE And Faced This Sick Backlash From DemocratsDecember 10, 20254 minute read…See More
'They’re Waiting for Us to Die': Area 51 Veterans Plead for Trump’s Help | Elizabeth Vargas Reports
Congress quietly killed the one fix that could have helped America’s “Area 51 veterans” prove where they served — and get the care they say they’ve earned.WA...
"Hope you enjoyed your thanksgiving day. I've often thought it'll good if I could send…"
© 2025 Created by truth.
Powered by
You need to be a member of 12160 Social Network to add comments!
Join 12160 Social Network