Marc Faber: World Bankers Are Going To Bankrupt The World
December 4th, 2013
Patrick MontesDeOca: In a recent interview with Equity Management Academy, Dr. Marc Faber and Patrick MontesDeOca outlined how he believes that central banks around the world, by printing money, are setting up the global economy for collapse.
Faber is the author and publisher of the Gloom, Boom and Doom Report,which highlights unusual investment opportunities, as well as several books on investment. He was managing director of Drexel, Burnham Lambert, and has lived in Hong Kong since 1973.
Faber believes that demand for gold will continue to be high and, if anything will increase. He said, “In Asia it has always been traditional to own gold….It was illegal to own gold in China until about ten years ago. Now the government is actually encouraging people to own gold.” Therefore, he said, demand is “very strong” and, with increasing numbers of wealthy people in Asia, “demand is rising very rapidly.” Furthermore, Faber believes that if the Chinese economy slows down, the government in China will do what governments everywhere else in the world have done, and print money. If that happens, then “gold demand from China would actually increase and not decrease.”