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'The risk is really not to own any precious metals at all' says Marc Faber
February 8, 2010
Marc Faber the Swiss fund manager and Gloom Boom & Doom editor said the US will be forced to massively monetize debts and reduce it through inflation.
Writing in the latest edition of the Gloom Boom & Doom report, Faber said the US will face difficult decisions soon. It could default on its debt obligations or monetize debt and reduce it through massive inflation.
"In my opinion," he says, "additional massive monetization of debts is the most likely outcome".
He however points out that "frantic monetization" is what caused the current banking problems.
Faber sees big banks as 'dangerous' by-products of the Fed's expansionist monetary policies, deeply embedded in a bull market culture of entitlement and greed.
Original Posting At: BusinessIntelligence
Writing in the latest edition of the Gloom Boom & Doom report, Faber said the US will face difficult decisions soon. It could default on its debt obligations or monetize debt and reduce it through massive inflation.
"In my opinion," he says, "additional massive monetization of debts is the most likely outcome".
He however points out that "frantic monetization" is what caused the current banking problems.
Faber sees big banks as 'dangerous' by-products of the Fed's expansionist monetary policies, deeply embedded in a bull market culture of entitlement and greed.
Original Posting At: BusinessIntelligence
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