Marc Faber 2/2/11 ~ CNBC Reporter, ‘You heard it here first, Bernanke is a Liar’

Courtesy of CNBC

See ZeroHedge for full video of Faber and Taleb at the Russia Conference this week as well~

money quote-

…”before they can’t pay they would print money like there is no tomorrow so the dollar would continuously depreciate which would obviously be good for assets that you can’t multiply such as commodities and precious metals.”

“I also think it they print money what then usually happens is that standards of living of the middle class and the working class go down, because the cost of living increases faster than wage gains, and so the population becomes very distraught and dissatisfied and eventually the government to stay in power or distract the attention of the people, either goes to war or blames a minority for the mishaps, but usually after a period of very heavy money printing war follows.”…

Commodities baby

Faber on Bloomber 1/25/11~


February 8, 2011. Tags: , , , , , , , , , . Economy, Finance, Obama Administration, Politics, Unemployment Statistics, Wall St. Comments off.

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