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."
Source: Marc Faber Channel.com, October 29, 2009
Comment
-
Comment by Anti Oligarch on November 1, 2009 at 2:17pm
-
Our present financial crisis is the epitome of a tragedy brought upon us by coercion in the monetary field. The way out of the crisis, and the way to prevent another great Depression, is through the restoration of freedom in the realm of money: through an adroit repeal of legal tender laws. The gold standard must be rehabilitated together with its clearing system, the bill market.
Read More
"Destroying the New World Order"
THANK YOU FOR SUPPORTING THE SITE!
Latest Activity
- Top News
- Everything
Wading Into the End
This is the existential bendWhen it appears, you’ve come to the endNo family no friendsNo way to…See More
"Cheeki kea, I pray that the insanity doesn't deepen and there's been an attack by some 18…"
Disgraced Former CNN Anchor Don Lemon Arrested
No longer an employed journalist, Don Lemon had been seen with far left agitator, Nekima Levy…See More
"Good poem for these times. I think it's only going to get worse though as we enter into the…"
Our Crazy Modern World
I'll be your host tonight in our first episode of "Our Crazy Modern World". Join us now!Apparently…See More
"What a bummer. Can't tell thie 'dead' guy to eat shit now."
2DF36465-A826-443C-A3A8-6638BC1D4FFA
"Venezuela under Chavez had cut ties with the IMF and World Bank. He had suggested that the US had…"
G_LrzqtXMAAhT7w
"Derelict of duty should be reason for removal of these judges. That would go against what is in…"
2DF36465-A826-443C-A3A8-6638BC1D4FFA
"You can't subvert a nation that has already been subverted by Marxists and drug cartles who…"
2DF36465-A826-443C-A3A8-6638BC1D4FFA
"Venezuela was once a thriving nation until the left and Communism infiltrated the government, and…"
© 2026 Created by truth.
Powered by
You need to be a member of 12160 Social Network to add comments!
Join 12160 Social Network