Marc Faber: “The Great Monetary Reset” Will Destroy Cash & More

The syrupy-voiced Eric King interviews the heroic Dr Marc Faber, who believes the U.S. government will raise the debt ceiling soon, and keep going with its imperial spending programme, because nobody ever wants to admit to failing.

Dr Faber describes the interesting Mexican stand-off where dollar holders dislike the euro and euro holders dislike the dollar, and the process where the bureaucrats who control these giant fiat currencies keeping postponing the consequences of their stupid past actions, by inflating both paper currencies.

‘Hold gold to protect yourself from these bureaucrats’, says Faber. As he said in another interview last week:

“All I can say, the risk today as an investor is not to own gold, but it’s not to own any gold. If you have no gold at all, I think you’re taking a risk. And my advice is simply every month you put some money aside and you buy a little bit of gold. Depending if you’re very rich, you buy every month a ton. If you’re very poor, you buy every month an ounce or whatever it is, or a gram. But every month, you accumulate. You don’t worry about the price. Look to it and you just buy every month a little bit. And your grandchildren will be very happy about that unless the US government takes it away. That is a possibility with Mr. Bernanke. You just look at him. He’s basically not a particularly honest character.”

Faber thinks that there will be much more monetary stimulus, from the politicians, trying to put off the necessary corrective pain from voters, until eventually a reset needs to occur, as it did with South America in the late part of the twentieth century. Before the great reset, governments will try to distract us with some Big Brother wars somewhere, before they eventually have to swap £100 notes for ‘One New Pound’, or something similar.

As with virtually everything the great man says, this interview is well worth listening to:

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About Andy Duncan

An Austrian Internet Vigilante trying to live Outside the Asylum
This entry was posted in Faber, King World News and tagged , , , , , . Bookmark the permalink.

One Response to Marc Faber: “The Great Monetary Reset” Will Destroy Cash & More

  1. Archie Dean says:

    “If you’re very poor, you buy every month an ounce…….”

    Oh B*ll**ks!! Talk about a wake up call. Only now do I realise the utter, absolute
    and grinding depths of my poverty. Poor decision making hasn’t helped though
    if I’m truly honest. You know, Mrs D reminded me recently that approx eight years
    ago I limped in from work and commented that if we knew what was good for us
    we “really ought to sell the house, rent a residence, and buy gold”. Suffice it to say,
    we didn’t. The tactless mare followed up the remark by whispering a few further
    words under her breath. Something along the lines of “all mouth, no trousers!” if I’m
    not mistaken – and yes, yes, before anybody else jumps on the bandwagon, not
    for the first time!!

    By the way, nice of that touring Maturin chap to offer such a resounding recommendation
    so soon after the birth of TGTF. Do you know the fellow well – perhaps you are related
    in some way? In any event…..long may you prosper!!

    Best regards

    AD

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