Marc Faber on the Federal Reserve's QE3 Announcement
As appeared on Bloomberg Television's "In the Loop" on 9/14/12
"Everything will collapse" is the consequence Gloom,
Boom, & Doom's Marc Faber sees from the announcement of QE3, the Federal
Reserve's latest 'stimulus' (and the fallacy and misconception of how
money-printing can help employment). In a wondrously clarifying interview on
Bloomberg TV on 9/14/12, Faber explained why he was 'happy', since "the
asset values of his holdings will go up" but as a responsible citizen he
is worried because "the monetary policies of the US will destroy the
world." It truly is class warfare under a veil of 'its good for you' as
he notes: "the fallacy of monetary policy in the U.S. is to believe this
money will go to the man on the street. It won't. It goes to the Mayfair
economy of the well-to-do people and boosts asset prices of Warhols."
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Marc Faber, is a Swiss investor
and publisher of the Gloom Boom & Doom Report
newsletter and has also authored several books. He is the director of
Marc Faber Ltd which acts as an investment advisor and fund manager.
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