Marc Faber Quotes
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It was easy for the Democrats to attack the wealthy fat cats of Wall Street, the elite, and the privileged people - to portray them as a profiteer of the system, which to some extent, they are. Not because they wanted to, but because Mr. Bernanke enabled them to be profiteers.
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The politicians are all useless individuals. Nobody is reducing the problems in the U.S. or Europe, just putting on a Band-Aid and postponing the problems endlessly.
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Nobody at CNBC owns gold. Nobody at Bloomberg owns gold. Gold is being constantly talked down by the media, and Fed officials, and economists, who also don't own any gold. They're all stocked up in equities.
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I'm an economist. I'm not a political servant.
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The positive aspect of my negative view is essentially that you shouldn't own cash and government bonds, but you should be in assets like real estate or equities or precious metals or in commodities.
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When you print money, the money does not flow evenly into the economic system. It stays essentially in the financial service industry and among people that have access to these funds, mostly well-to-do people. It does not go to the worker.
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I think Mr. Obama is a disaster for business and a disaster for the United States. Not that Mr. Romney would be much better, but the Republicans understand the problem of excessive debt better than Mr. Obama, who basically doesn't care about piling up debt.
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Every central banker in the world pays attention to credit growth, but not in the U.S.
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When everyone thinks alike, no one is thinking clearly.
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The best way to deal with any economic problem is to let the market work it through.
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When people talk about people who are optimistic about gold, they call them 'gold bugs.' A bug is an insect. I don't call equity bugs 'cockroaches.' Do you understand? There is already a negative connotation with the expression of 'gold bug.'
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I would rather buy Indian equities than the S&P 500.
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Buy a $100 U.S. bond and frame it to teach your children about inflation by watching the U.S. bond value diminish to almost nothing over the next 20 years.
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There's no such thing as a favorite investment. But I think I tend to invest in Asia in promising countries, in equities, in real estate, and I own precious metals, obviously.
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My worst investment decision so far is to lend money to friends. So far, it has all come to zero.
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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... Very happy. Very good for the Fed. Congratulations, Mr. Bernanke.
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When it comes to charities, there's a lot of fraud.
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It's pointless to talk to Fed members about economics because they are academics who believe in money-printing. Some of them believe they didn't print enough, and so with these kinds of people, it is like running to the pope. What do you want to tell them?
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When it comes to money, the best investments were probably the ones I did not make.
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I am pretty sure central banks will continue to print money, and the standards of living for people in the western world, not just in America, will continue to decline because the cost of living increases will exceed income. The cost of living will also go up because all kinds of taxes will increase.
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When you have a perfect free market, it's difficult to predict the future. But when you have a market that is disturbed by government manipulations and money-printing, it's impossible to make any predictions.
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Credit expansion and money printing hasn't filtered much to ordinary people. It's boosted asset markets, real estate and stocks. So well-to-do-people have done very well.
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If the U.S. Government was a company, the deficit would be $5 trillion because they would have to account by general accepted accounting principles. But actually they encourage government spending, reckless government spending, because the government can issue Treasury bills at extremely low interest rates.
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I believe that the market is slowly waking up to the fact that the Federal Reserve is a clueless organization. They have no idea what they're doing. And so the confidence level of investors is diminishing, in my view.