MARC FABER: Rich People Of The World Are About To See 50% Of Their Wealth Destroyed
Apr. 6, 2012
Investor Marc Faber is still warning about the horrible future that awaits us.
Specifically, he says that the world’s wealthy will soon see half their wealth destroyed.
Faber’s smart, of course, so he’s not laying bets on exactly how it will be destroyed. He’s also not picking a particular time frame:
“Somewhere down the line we will have a massive wealth destruction that usually happens either through very high inflation or through social unrest or through war or a credit market collapse,” he told CNBC (via the Wall Street Journal).
The remarkable thing here is that this actually isn’t a bold a prediction.
In fact, for monetary wealth NOT To be destroyed, we’d have to have a major shift in the world economy.
Inflation has been regularly destroying monetary wealth for the last century.