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
"cheeki kea I was wrong Emperor Penguins are big and powerful but still alive but this,
A size…"
"Cheeki kea here's another that they say there have been modern sightings of!
The name of…"
"cheeki kea, did you ever hear of the giant Imperial Penguins? They were about 6 feet tall and could…"
"cheeki kea I do not think these giant two legged birds would need to have a bad attitude as long as…"
“What’s His Motive?” - Inside The Mind of George Soros
"Trump calls for George Soros and son to face federal…"
Mossad, Terrifying CIA Technology, Blackwater & The Most Secret CIA Unit | John Kiriakou
John Kiriakou served 15 years in the CIA as a Case Officer (Spy) and as CIA's Head of Counterterrorism Operations in Pakistan where he lead the raid that cap...
A Critique of the Tavistock Institute - The Mother Of All Conspiracy Theories
An examination of the Tavistock Institute, a theory which seeks to explain how Western societies have been brainwashed by a cabal of social scientists and th...
“What’s His Motive?” - Inside The Mind of George Soros
In this short clip, Patrick Bet-David, Sebastian Gorka Adam Sosnick, and Tom Ellsworth George Soros and what motivates him to do the things he does. FaceTime...
"If you're ever out there Doc V and notice giant two legged birds roaming the wilderness be…"
© 2025 Created by truth.
Powered by
You need to be a member of 12160 Social Network to add comments!
Join 12160 Social Network