Posted on 08/05/2011 8:11:19 AM PDT by TigerLikesRooster
Faber: Brace for a Global 'Reboot' and a War
Published: Friday, 5 Aug 2011 | 7:51 AM ET
By: Peter Guest
Staff Writer, CNBC.com
Markets could rebound after Thursday's global market sell-off, but investors should see any bounce as a selling opportunity, as the world economy rolls towards total collapse, Mark Faber, editor and publisher of the Boom, Doom and Gloom Report, told CNBC Friday.
/snip
"In general, I would be using rebounds as a selling opportunity," Faber said.
Buying Treasurys as a safe haven is no longer a smart play, he added.
"I think Treasurys are perceived still as a safe haven because everybody knows the U.S. has an endless ability to print money. The interest will be paid," he said. "The trouble is that governments can default in two ways. Either they just stop paying the interest and there is a debt restructuring, like Argentina went through; or they just pay the interest and the principle eventually, in a worthless currency. That's the way the U.S. will likely do it."
/snip
It's like the recession in 2001. Had there not been massive money printing, it would have been steeper than what we had, but equally, we would have avoided probably the financial crash in 2008."
The next crisis will be far bigger, according to Faber.
"The next time we have a global economic crisis, it will be much worse than 2008. Before this happens there will be money printing and there will be war. The whole system will collapse," he said. "That's why I'm advising people that they have to think it through. In a total collapse you don't want to own government bonds and cash."
/snip
(Excerpt) Read more at cnbc.com ...
P!
Lock and load ain’t such a bad idea is it? I’d rather be safe than sorry.
ping
I heard Faber back in April on some radio show telling the other hosts that QE2 will not be the last, that there will be a QE3.
The other hosts basically told him he didn’t know what he was talking about. LOL!!!
I saw this just up on Geert Wilders page ...
http://www.facebook.com/GW.IFA
It’s this thread
http://www.facebook.com/GW.IFA/posts/137973626290736
What we have now is a house of cards. It's all phony, all based on lies. The politicians have built a massive global structure which is totally unsustainble.
The pieces will be swept off the chessboard, and a new game will begin. But millions will die first.
So... convert cash to bullets and beans?
Lock and load indeed. The only things of value will be food, water, and ammo. Cash will be good for starting a campfire. The collapse is coming. The only question will be whether the “reboot” gives us our freedom back and gets the boot of the tyrants off our throats, or whether we will fall deeper into slavery. I will die on my feet before I live on my knees.
The pieces will be swept off the chessboard, and a new game will begin. But millions will die first.
Joel Skousen has said as much recently. He says the Russians and Chinese will launch a pre-emptive nuclear strike in the US within 10 years.
What a Nostra-dumbass. Those things are already happening.
“Knowledge is good.” - Emil Faber
Makes sense, except that Russia is acting like Russia again.
“Knowledge is good.” - Emil Faber
Skousen said that Clinton imposed a “No retaliate” order on the Military if we were attacked. I find that hard to believe.
A re-boot won’t cut it. We’ll need a complete system
restore.
You want to own things of value, such a property. Something that may go down in value but that someone will eventually want to buy from you someday. And yes, bullets are property worth having.
If it gets that bad, law enforcement and the military would take their weapons home and protect their families. They would form up in groups and defend themselves, as would most people.
Don’t ask how I now, but it was true.
The real question is would the military follow that order?
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