Marc Faber – Central banks to “print money like crazy”

 EmailPrint This Post Print This Post

Marc Faber, publisher of the Gloom, Boom & Doom report, says we have to distinguish between what central banks and the governments in the Western world say and what they will do. “I am not a great believer in this austerity that they are proclaiming. I think the fiscal deficit will actually stay very high or even increase and I think that if they decrease the fiscal deficit then it will be offset by very expansionary monetary policy, in other words monetization, so the whole burden to support the economy will fall on monetary policies, then they’ll print money like crazy.

“I would not pay too much attention to what they say but to what the markets do and it seems to me that the people that predicted the Dow Jones at 1000 or S&P at 500 or 200 are misreading the facts that under a fiat monetary system you can print endless quantities of money and so stocks may adjust in real terms but not necessarily in nominal terms to the extent that the super bears are predicting.”

Source: NDTV (via Financial Doom Blog), July 15, 2010.

Did you enjoy this post? If so, click here to subscribe to updates to Investment Postcards from Cape Town by e-mail.

OverSeas Radio Network

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>




Top 100 Financial Blogs

Recent Posts

Charts & Indexes

Gold Price (US$)

Don Coxe’s Weekly Webcast

Podcast – Dow Jones

One minute - every hour - weekdays
(requires Windows Media Player)
newsflashr network
National Debt Clock

Calendar of Posts

July 2010
« Jun Aug »

Feed the Bull