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Marc Faber's Asset Protection Plan: "Buy A Machine Gun", No Really, "You're Right, Buy A Tank"

Tyler Durden's picture




 

Trish Regan and Adam Johnson do their best to hold themselves together in this sublime rant by 'Gloom, Boom & Doom's Marc Faber on Bloomberg TV as he sees Obama's re-election as "very negative for the economy". From his view that the market should be down at least 20% - and maybe 50%, to the implied ignorance of both of the candidates, he believes fervently that the "standards of living of people in the western hemisphere will continue to decline." Faber views Obama's re-election as one of many unintended consequences of market manipulation (since Democrat attacks on the wealthy were 'enabled' by their profiteering from Bernanke's money printing) and sees the need to protect one's assets "with a gun, a machine gun... or perhaps a tank." He concludes with a stunner as he exclaims his view doubting Obama will make it through the whole four-year term because "there will be so many scandals" since "there is so much smoke, there must be some fire!"

 

The pre-amble is useful and well worth listening to as Faber describes exactly what is occurring in the world...

The good stuff begins around 7:30 as Faber goes Baumgartner... and gives the Bloomberg hosts a taste of reality we suspect they have not heard from their run-of-the-mill portfolio manager sheep guests...

 

 

Faber on President Obama’s reelection:

“I am surprised with the reelection of Mr. Obama. The S&P is only down like 30 points. I would have thought that the market on his reelection should be down at least 50%...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. You also have in the background Mr. Bernanke, who with artificially low interest rates enables the debt to essentially escalate endlessly.”

Onwhere he sees the equity markets given Obama’s reelection:

“You have offsetting factors. The problem with Mr. Obama is that you get more regulation and it’s disincentive for businessmen to hire people. You probably also get higher taxes, so in terms of the economy, he is very negative in my view. But you still have Mr. Bernanke, and you still have because of money printing very high corporate earnings. They are now coming down, but they are still at the elevated level. You have money printing supporting the market and on the other hand, you have an economic slowdown globally which will affect earnings negatively. It is difficult to tell where the market will go because we have so much manipulation. I think, minimum, it will drop 20%.”

On how investors should protect their assets:

“They should buy themselves a machine gun…I need to buy a tank. Joking aside, look, we have manipulated markets. Whenever you manipulate markets, you will get unintended consequences. i think the reelection is unintended consequence of money printing, that favors the so- called 0.25%. 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. We have a situation where you have today Mr. Obama, I doubt he will stay at the presidency for another four years. I think there will be so many scandals, but that’s another story.”

On why he believes Obama won’t make it another four years as president:

“There is so much smoke. I suppose there is some fire. That is my observation. We don't know how the world will look in five years' time. 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. Like Proposition 30 today in California is of course negative for the Californian economy. That is the state of the world. We have worsening economic conditions, but we have money printing.”

On Speaker Boehner’s comments to Congress today on the fiscal cliff:

“I am sure that they will solve it. They will increase cosmetically some taxes and they will cut cosmetically some spending and it will all be back loaded 10 years from now. So in reality, not much will happen. But the market tends to rally towards year-end, and i think from a low of around 1360, we could have a rally to January, but I think sometime next year will be again lower.”

On whether he sees the U.S. in recession in 2013:

“Yes, I think that if the figures were compiled properly. If nominal GDP was adjusted by a proper price deflator, we would probably already be in recession…But I would like to point out one thing about the economy. GDP is not a very relevant figure. It consists of many different sectors of the economy, so you can have some sectors that are improving like housing and others that are worsening.”

On his dollar and euro positions:

“This is the choice in life. You choose what is less bad. I don't particularly like Mr. Obama, but I think he is less bad for the world than Mr. Romney. It is a tragedy of life that both candidates did not lose the election. They would have deserved both to lose.”

 

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Thu, 11/08/2012 - 08:03 | 2959795 lakecity55
lakecity55's picture

I think we are still a long way from that.

We must srtive to be lawful, even if others are not.

Thu, 11/08/2012 - 08:18 | 2959817 toomanyfakecons...
toomanyfakeconservatives's picture

SO TRUE! The rule of law must return. Instead of a bloody coup, we must arrest illegitimate/incompetent/treasonous politicians and give them fair trials.

Thu, 11/08/2012 - 09:54 | 2960060 lakecity55
lakecity55's picture

I up-arrowed you.

Beware of haters trying to instill us with Fear Porn.

The best resolution of this current crisis is the indictment/trial of the bad guys.

Remember Don Corleone's quote: "1 lawyer with a briefcase can steal more than 100 men with guns."

When things get bad enough, and they will, it will be time for true patriots to demand a lawful accounting, not running around playing army. The best sight to behold would be the Beast of Benghazi led away in handcuffs to a US military prison to await trial.

Too many people watch too much bang bang TV. That is not reality.

Thu, 11/08/2012 - 08:15 | 2959811 toomanyfakecons...
toomanyfakeconservatives's picture

Hell... it will only take .03% to back law enforcement and Federal Marshalls when the arrests go down. Nobody wants to see what millions of armed, pissed off current and former U.S. military members could do in a fight. 

Wed, 11/07/2012 - 22:06 | 2959037 stiler
stiler's picture

The Order of Authority in our universe:

 

1. The GOD (of Israel and your creator, 3in1)

2. Satan-- the leading fallen angel (created perfect but fell)

3. the other angels, good and bad @ war (ie Michael, authority over Israel) 

----------------------------------------------(dividing the spirit world from human)

3. the puppet masters

4. the govts of world, Bernanke, Obama

5. various and assorted dupes/born-again believers

 

 

Wed, 11/07/2012 - 22:50 | 2959157 egoist
egoist's picture

Maybe that Startrek chick comes with a phaser. And that's better than a tank (in more ways than one).

Wed, 11/07/2012 - 22:58 | 2959184 sink critically
sink critically's picture

I'm not ashamed to admit that tanks scare me. On the outside you are hardly a speed bump and on the inside you are entombed. Suddenly the bug-out folks don't sound so extreme...

Thu, 11/08/2012 - 00:43 | 2959448 newengland
newengland's picture

Fear not. Faber is bull$hitting, whining for his money; a foreigner who has no vote nor interest in the welfare of the U.S. or anywhere else, as he is a globalist money grubbing ne'er do well.

All you need is physical gold and silver and stay close to your family, friends and community. Defend that, and you won't need a tank or any other weapon. Faber has a lot to fear because he lacks genuine security: values and community; one for all, all for one.

He's a useless big mouthed cynic.

Thu, 11/08/2012 - 04:36 | 2959672 sink critically
sink critically's picture

I appreciate your reply, tanks. ;)

Wed, 11/07/2012 - 22:58 | 2959186 holdingontomypants
holdingontomypants's picture

received from saf.org defenders of rights to bear arms. This ain't no bull. Its started already today to take away our rights. Pass the message on to all freedom fighters.

U.N. CELEBRATES OBAMA RE-ELECTION
BY PUSHING GLOBAL GUN CONTROL

 

BELLEVUE, WA - Less than 24 hours after winning re-election, President Barack Obama's administration joined with China, France, Germany and the United Kingdom, and more than 150 other governments, in supporting renewed debate on the proposed United Nations Arms Trade Treaty, confirming the worst fears of the American gun rights community.

The vote came at the U.N. General Assembly's meeting of the First Committee on Disarmament at the world organization's headquarters in New York City.

"It's obvious that our warnings over the past several months have been true," said Alan Gottlieb, founder and executive vice president of the Second Amendment Foundation. "The election was called about 11 p.m. Tuesday and by 11 a.m. this morning, we got word that the United States was supporting this resolution. We have to be more vigilant in our efforts to stop this proposed treaty."

SAF Operations Director Julianne Versnel, who has been back and forth to the United Nations over this proposal, said the fight is not finished. The measure will be considered for finalization in March 2013.

"We will continue to monitor this issue and oppose any effort to enforce a global gun control measure," she stated.

Amnesty International issued a statement Wednesday lauding passage of the resolution, saying the treaty will protect human rights.

"The right of self-defense is a human right," Gottlieb countered, "and in this country, the Second Amendment protects that right.

"Just days ago as he campaigned for re-election," he concluded, "Barack Obama told his supporters that voting is the best revenge.' I guess now we know what he was talking about. The revenge he seeks is against American gun owners and their Second Amendment rights."
 

 

The Second Amendment Foundation (www.saf.org) is the nation's oldest and largest tax-exempt education, research, publishing and legal action group focusing on the Constitutional right and heritage to privately own and possess firearms. Founded in 1974, The Foundation has grown to more than 650,000 members and supporters and conducts many programs designed to better inform the public about the consequences of gun control. In addition to the landmark McDonald v. Chicago Supreme Court Case, SAF has previously funded successful firearms-related suits against the cities of Los Angeles; New Haven, CT; New Orleans; Chicago and San Francisco on behalf of American gun owners, a lawsuit against the cities suing gun makers and numerous amicus briefs holding the Second Amendment as an individual right.



Thu, 11/08/2012 - 00:39 | 2959446 newengland
newengland's picture

More words.

Words don't win wars...nor put a roof over someone's head or food on the table.

The Feds will fold like a cheap pack of cards if they bring that $hit up here...or into any genuine local community.

Thu, 11/08/2012 - 01:59 | 2959553 jomama
jomama's picture

we'll just see about that, won't we?

Wed, 11/07/2012 - 23:57 | 2959351 newengland
newengland's picture

Where I come from, the Feds have most to fear.

Give me liberty or give me death. That's a promise not a warning. These bureaucrats are accustomed to word wars. They are cowards, and they will fold like a cheap pack of cards.

Obama won with new Hispanics, frightened blacks and women. That's no match for the Republic.

In the War of Independence, only 3% fought with guns.  Every other patriot  was the supply line: fearful but helpful.

They also serve who only stand and wait.

Wed, 11/07/2012 - 23:03 | 2959202 Venerability
Venerability's picture

OK that's officially IT!

Silly, childish, vulgar, banal nonsense, worthy of dirty little boys playing in mud puddles - only some of those boys are in their 70s and 80s and others are wearing Hitler Youth uniforms.

You HAVE succeeded in giving everyone who isn't you headaches and tummyaches and ear aches from the ranting and raving.

We are despondent. We are nauseous. Oooooh, you win!

But everybody is once again on the same side of the boat and trading the exact same way.

That's THE contrary indicator - and it is YOU who have to budge or risk cannibalizing each other.

I am going to sleep for at least 24 hours. When I come back, I want everyone to have taken off their masks and their goblin costumes and their faux fangs and tails. Even Marc Faber - although I understand his fangs are a genetic impairment.

I will bring you some brownies and ice cream and lemonade, And if you're good little boys, I will not even lace them with cyanide.

Wed, 11/07/2012 - 23:10 | 2959225 rsnoble
rsnoble's picture

Didn't Faber have a negative outlook on both Obama and Romney? If so then why such a negative outlook on an Obama win? Did this little bitch boy donate too much $ to the Romney campaign?  I mean really.....why wouldn't someone worth gazillions be all for Romney to begin with?  You just can't trust any of these worms.

Wed, 11/07/2012 - 23:12 | 2959235 rsnoble
rsnoble's picture

Due to the level of thinking im afraid ZH is probably right in one of it's predictions...........this fucking internet has got to go.

Wed, 11/07/2012 - 23:26 | 2959286 steve from virginia
steve from virginia's picture

 

The Gordon Chang interview that followed Faber ... on the coming China government change-over ... was a lot more interesting and fact-filled.

 

Faber has no answer as to how to protect his holdings, his advice to buy stocks of the past three months would have cost his clients 20% immediate loss ... or more.

 

Nobody says, "Mahney pleenting' the same way as Faber, however ... like Nouriel Roubini saying, "Bahbil..."

 

Bahbil bahbil bahbil ...!

Wed, 11/07/2012 - 23:48 | 2959340 newengland
newengland's picture

Faber is a foreigner with no vote nor genuine interest in U.S. affairs, but he does like to talk his book; useless money grubbing fucker.

He doesn't need a tank...he deserves the coffin made by his doom and gloom globalist two-faced lying freak agenda.

Thu, 11/08/2012 - 08:21 | 2959820 toomanyfakecons...
toomanyfakeconservatives's picture

ZH and the internet in general is full of "fear bots" who post lies, fear, and despair. Once you lean how to spot them, you free your mind.

Wed, 11/07/2012 - 23:49 | 2959341 jonjon831983
jonjon831983's picture

Gonna need to be mobile when the machines come after you: "Million-Dollar Traders Replaced With Machines Amid Cuts"

http://www.bloomberg.com/news/2012-11-06/million-dollar-traders-replaced...

Thu, 11/08/2012 - 00:10 | 2959388 newengland
newengland's picture

Most trading is done by machines nowadays, and the traders televised are mere window dressing to give the appearance of human thought and action.

This is mad max corporatism.

Thu, 11/08/2012 - 00:10 | 2959390 willwork4food
willwork4food's picture

I seriously question Faber's assertion that Obama's win will be the end; not that it might be the end, but it would have happend just as effectively, albeit differently, with Romney.

I call bullshit.

Thu, 11/08/2012 - 00:30 | 2959429 newengland
newengland's picture

Globalist Faber talks his book, and likes attention from the main scream media. Notice that he says Obama was the better choice, despite Faber's previous mewling.

I call bullshit too. Faber, the foreigner globalist who would bury anyone to get his money.

Thu, 11/08/2012 - 00:38 | 2959442 semperfi
semperfi's picture

Tyler for President 2016 (or sooner when O-man is impeached & removed)

Thu, 11/08/2012 - 08:22 | 2959823 toomanyfakecons...
toomanyfakeconservatives's picture

Correction... arrested, put behind bars, put on trial, and punished.

Thu, 11/08/2012 - 00:40 | 2959447 reader2010
reader2010's picture

Many are waiting for the Black Friday and Cyber Monday. They don't give a shit about this and that. 

Thu, 11/08/2012 - 00:51 | 2959460 Ineverslice
Ineverslice's picture

 

Sort of becoming a tradition for us all, to watch the post Turkey Day stampeding thru the entryways of excess...

Pamplona, our very own :))

Thu, 11/08/2012 - 01:03 | 2959481 indio007
indio007's picture

I surprised Faber paused his blow job from an 11 year old Thailand girl long enough to use the phone.

Thu, 11/08/2012 - 01:45 | 2959535 dagnytaggert
dagnytaggert's picture

I wish Bloomberg would turn off the Krikkit robot background music. They must have wanted to drown Faber out.

Thu, 11/08/2012 - 01:57 | 2959551 leadingmarkets
leadingmarkets's picture

Love Mark! But i definately need my fix when it comes to trading stocks, get in and get out, and get in orbitstocks.com

Thu, 11/08/2012 - 02:02 | 2959559 newengland
newengland's picture

ZH deleted comments criticising globalist cynic Faber, talking his book, and other comments.

Thu, 11/08/2012 - 02:35 | 2959589 lead salad
lead salad's picture

I just want to shove my cock in Trish's mouth....mmmmm.

Thu, 11/08/2012 - 04:27 | 2959664 BlackholeDivestment
BlackholeDivestment's picture

...buy wisdom and sell it not.

 http://www.youtube.com/watch?v=uLpFMDmBo9s 

People like Marc are inspired by this insane market reality and geopolitical chessboard to the point of joking about getting armed. This is not a good sign. It confirms ...gloom. So,  BOOM!!! , that one can happen any day now. The final doom, well that should be clear on the event horizon around 2015 of Apollyon's rule.

...it's ah coming. http://www.youtube.com/watch?v=Z0o7urC09f0

 

Thu, 11/08/2012 - 06:35 | 2959740 Bastiat009
Bastiat009's picture

Faber sounds like a smart guy with common sense. The only problem with his predictions is that they don't come true.

I mean, yes, I know I am going to die but if that's all you're telling me without telling me when, you're not bringing much to the conversation.

Thu, 11/08/2012 - 09:59 | 2960090 d edwards
d edwards's picture

Buy a tank? Gives a whole new meaning to the "Boom" in his reports title. ;-)

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