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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 ...
It looks like the USA is at the mercy of some very bad people. They’ll bleed us dry and then toss what’s left to the wind. IMO
Starting with US’s AAA credit rating.
The govt has bought up as many survival rations as the manufacturers can produce as far as the eye ccan see.
They obviously expect something horrible to come down.
I tend to think toward freedom. The govt stooges are around b/c of the $ & perks. In a collapse what could the govt pay them? I doubt there would be many takers. At any rate if we fall deeper into slavery its our own fault and the pols cant be blamed.
Let’s not forget a prime missing piece here.
The govt has bought up as many survival rations as the manufacturers can produce as far as the eye ccan see.
They obviously expect something horrible to come down.
“...you don’t want to own government bonds and cash.”
Something with intrinsic value like a relationship with God, food, and bullets.
Just a waste of missles. All they have to do is quite buying US Dollars.
“...would the military follow that order?”
Many, or most, wouldn’t, but they’d be dead in just a few minutes and the rest would kill their own mothers. The only thing keeping us from total ruin is God’s good grace.
“I will die on my feet before I live on my knees”
well said and applicable very soon
The story about FEMA buying up millions of survival rations has been debunked thoroughly. Even the manufacturers have said it is total BS.
The story was the result of some tinfoil hat wearing survival types getting wind of a FEMA RFP (request for proposal) that was submitted to freeze dried food manufacturers as part of a planning drill, No purchase of an irregularly high quantity was ever made. The shortage seen in the marketplace was due to manufacturing issues (see Mountain House’s own statement).
“The trouble is that governments can default in two ways. Either they just stop paying the interest and there is a debt restructuring, ..... That’s the way the U.S. will likely do it.”
#3 : Tax the work-camp, oppress the work camp with Vampire-Care-Stamp-Act-II.
‘There will be wars and rumors of war .... but the end is not yet” LOL
We are just inches away from a collapse of society.
All it will take is one reputable public figure (Allen West comes to mind) to say, “Gather together with your armed and like-minded friends and organize” and the game will be on.
Seriously ... we are that close. This debt-ceiling “cluster-bleep” showed us just how deeply and irretrievably we’ve sunk. They should have slashed the entire government in half, but instead chose to do nothing whatsoever. It’s over.
Prepare for the second American revolution. It could start any day now.
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