• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Marc Faber: "Next Week We Will See If Bernanke Is A True Money Printer Or Just An Amateur"

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Fri, 08/05/2011 - 03:56 | 1525920 Number 156
Number 156's picture

That guy would make a great super villan in a James bond Movie.

"No Mr Bond, I expect you to Die!"

 

Fri, 08/05/2011 - 04:27 | 1525953 dlmaniac
dlmaniac's picture

The little printer that could will be out next week to conquer the FIAT world.

Fri, 08/05/2011 - 04:40 | 1525962 Dan The Man
Dan The Man's picture

I think Amerika should devalue the meter as well.  Since Willis Tower in Chicago is now well back of the pack in building height, if they took the meter down to 2:1 they could regain some glory.   Willis Tower is 527m, but could be 1054 if measured in Amerikan meters!  Then it would easily surpass the Burj Khalifa at just 828m.

 

Fri, 08/05/2011 - 05:02 | 1525973 Spirit Of Truth
Spirit Of Truth's picture

Some other fine recent Bloomberg interviews:

 

VOICES OF WISDOM - U.S. Debt Crisis Is Contrived, James Grant Says - Video - Bloomberg  VOICES OF WISDOM - Investor Jim Rogers Holding Dollar, Euro, June 29 - Video - Bloomberg 

 

Fri, 08/05/2011 - 05:55 | 1526023 malikai
malikai's picture

<-- Transitory: BTFD.

<-- Run for the hills.

 

BloomTV is talking about gold right now. Mentioning "is gold too expensive?". LOL.

Fri, 08/05/2011 - 06:08 | 1526036 spiral_eyes
spiral_eyes's picture

‎"friday, friday, market's going down on friday
everybody's looking forward to the weekend
friday, friday, going down on friday
everybody's looking forward to the weekend
partying partying (NO)
partying partying (NO)
not fun, not fun, not fun, not fun
looking forward to the weekend"

http://azizonomics.com/2011/08/05/black-friday-part-ii/

Fri, 08/05/2011 - 04:53 | 1525967 Pay Day Today
Pay Day Today's picture

Hey can you still buy those little Italian FIATS? They might be going extinct soon...

Fri, 08/05/2011 - 06:36 | 1526056 BandGap
BandGap's picture

Faber has always made sense to me. His background, direct approach and his sense of humor make him compelling.  And he could as easily be Santa Claus in a European film about Christmas with that voice.  He presents himself as if he has the world by the balls without being overly arrogant.

Fri, 08/05/2011 - 07:46 | 1526147 LeBalance
LeBalance's picture

Mr. Bernanke is tied (lol) to the negotiating table.

"Mr. Faber, do you expect me to pay this debt?"

Marc Faber: "No, Mr. Bernanke, I expect you to print!"

Fri, 08/05/2011 - 07:52 | 1526159 slaughterer
slaughterer's picture

.

Fri, 08/05/2011 - 09:26 | 1526492 Mugatu
Mugatu's picture

He would also makes great Dr Evil on a Austin Powers movie:

"Could I got some laser beams on sharks - throw me a fricken bone!"

Fri, 08/05/2011 - 03:56 | 1525922 Doyle Hargraves
Doyle Hargraves's picture

He can print as good as any of them, and he will. The takedown of BAC will be the catalyst for him to start the presses rolling non-stop 24/7! Helicopters are already loaded Bitchez!

http://www.chinook-helicopter.com/Unique_Loads/Tax_dollars_at_work_b_master.jpg

Fri, 08/05/2011 - 08:03 | 1526182 Cash_is_Trash
Cash_is_Trash's picture

What does BEP on the boxes mean?

Bureau of Extend and Pretend, perhapz

Fri, 08/05/2011 - 12:28 | 1527276 Doyle Hargraves
Doyle Hargraves's picture

Good one and probably true, it is bureau of counterfeiting, I mean Bureau of engraving and printing...this is some of the cash that was bribed , I mean lost in Iraq.

Fri, 08/05/2011 - 04:00 | 1525927 TwoShortPlanks
TwoShortPlanks's picture

It's time to pick your team chumps! No going back now.

Team 1
'The Lions': http://www.youtube.com/watch?v=BGSlZGy3gpU&feature=pyv&ad=5684071546&kw=...

Versus

Team 2
'The Sheeple':http://www.youtube.com/watch?v=Ubsd-tWYmZw

See you all in the economic after-life!

Fri, 08/05/2011 - 08:08 | 1526189 LoneCapitalist
LoneCapitalist's picture

As a michigan resident, Im conditioned to bet against the lions.

Fri, 08/05/2011 - 04:03 | 1525930 Sequitur
Sequitur's picture

Anyone staying long utilities and large, blue-chip dividend-payers? Damage hasn't been as bad for them. If you are selling, where the hell can investors go besides metal? Credit union at 25 basis points?

Fri, 08/05/2011 - 04:09 | 1525934 Peter_Griffin
Peter_Griffin's picture

You may want to invest in Obama's re-election campaign.  I sold all my silver yesterday to invest in him.  We won't ever have to pay for gas agian.

Fri, 08/05/2011 - 05:58 | 1526026 malikai
malikai's picture

I'm with you. Obama 2012 baby! No more paying for rent, gas, or food.

That's the real reason that stuff isn't in the CPI - Obama will make it all free!

Fri, 08/05/2011 - 10:23 | 1526696 FEDbuster
FEDbuster's picture

Hasten the Collapse, OBAMA 2012

and of course Marc Faber knows "the Bernank" is a professional.

Pump it Up!

Pump it up when you don't really need it.
Pump it up until you can feel it.

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

Fri, 08/05/2011 - 14:53 | 1527850 malikai
malikai's picture

Yea well it sounds to me like a dare. A double dog dare, actually.

Fri, 08/05/2011 - 04:17 | 1525944 topcallingtroll
topcallingtroll's picture

I am mostly a speculator now, but averaging down into low beta plays makes a lot of sense to me. Dividends are almost starting to look good.

Dont use the taylor rule.

I am conservative and want dividends at their hundred year average before they truly excite me.

Fri, 08/05/2011 - 04:25 | 1525951 michigan independant
michigan independant's picture

By now you must enough sheep in deep freeze. LOL

Fri, 08/05/2011 - 07:43 | 1526144 KIPPY KAPPSLOCK
KIPPY KAPPSLOCK's picture

Hear, hear.  Michigan independant, I'll drink to that.  

Fri, 08/05/2011 - 04:07 | 1525933 A Man without Q...
A Man without Qualities's picture

Faber is right, people are panicking and they have gone mad, but the governments and central banks have been using the equity markets as a way of trying to convince a sceptical populous that the economy is getting better.  Therefore, when this crutch is removed, there is not much to cling on to and people feel scared...

Fri, 08/05/2011 - 08:59 | 1526373 DosZap
DosZap's picture

A Man without @ 04:07

 

IOW the .Goobers have been fooling(lying) and when the sheeple see the real economy and the truth, they are scared because they do not GET IT.

Well, they are going to get it...............and when they finally figure out what is going on, I fear for the country.

Fri, 08/05/2011 - 04:09 | 1525935 chump666
chump666's picture

has faber seen EZ CDS speads?  there will be no snap back rally anytime soon, money printing or not, unless its a trillionxtrillion

Fri, 08/05/2011 - 04:13 | 1525940 topcallingtroll
topcallingtroll's picture

THAt doesnt preclude a brief counter trend rally.

Fri, 08/05/2011 - 04:31 | 1525954 chump666
chump666's picture

we will see, a lot of bears got caught in   2009.  but we got a debt contagion, maybe a slight rally.  still short the nasdaq though.  so far its all doomsday

Fri, 08/05/2011 - 04:10 | 1525936 AngryGerman
AngryGerman's picture

and they should feel scared. basics are broke. so printing money does not yield relief, but only postpones. retail is happy to be raped.

Fri, 08/05/2011 - 07:01 | 1526085 Bobbyrib
Bobbyrib's picture

Postponing the inevitable is enough for the douchebags running the US economy (Bernanke and big money). Price stability it would seem is about raising prices so that companies don't have to drop prices, but when wages don't keep pace with inflation all it does is make things worse.

Fri, 08/05/2011 - 04:14 | 1525943 Doyle Hargraves
Doyle Hargraves's picture

The populace has every reason to be skeptical, especially when TPTB are telling you the sky is yellow when it is blue. The markets being propped up by ZIRP money printed and dropped from helicopters by a mad central banker who is only dropping the money on his pals at TBTF, there is no reason for anyone to trust in what is going on. Maybe people have wised up to the fed and their shenanigans, of course if that were the case Ron Paul would be +10-15 points ahead of the debt brotha right now in the polls, hopefully, the BAC crash that is coming will finally get the populace looking at alternatives to the current paradigm.

Fri, 08/05/2011 - 05:46 | 1526017 AssFire
AssFire's picture

CIA= Cocaine Import Agency:
http://www.elpasotimes.com/ci_18608410?source=most_viewed

No one trusts the government and now you see the result: People removing their money from the market that is more of a rigged QE casino than a long term investment.

Too much is messed up and there is a definite lack of confidence. The banks were TBTF, but the nation is too corrupt to save (TCTS).

"Our government has not been warring on poverty; it has been creating poverty by attacking every value and every institution on which the generation of wealth depends. And with this, inevitably, it is corroding our liberty. Unless the lethal pattern is changed -- which means , unless the philosophy that shapes this pattern is changed -- this nation will be destroyed." --WILLIAM E. SIMON, former Secretary of the Treasury from 1974 to 1977.
Fri, 08/05/2011 - 07:06 | 1526092 YHC-FTSE
YHC-FTSE's picture

+1

TCTS! Good one.

Fri, 08/05/2011 - 04:15 | 1525945 unirealist
unirealist's picture

My sense is that Faber is heavily and now uncomfortably invested in equities, and he's whistling past the graveyard.

The stock market is "oversold???"  He's dreaming wishful dreams.

 

 

Fri, 08/05/2011 - 05:00 | 1525972 Zero Hero
Zero Hero's picture

I doubt Faber is heavily invested in equities. Since about Februrary he's been predicting a drop in the S&P of at least 20%. So far he's been pretty accurate.

Fri, 08/05/2011 - 05:05 | 1525979 Ratscam
Ratscam's picture

The most important thing is that:

Mark Faber has NO DEBT, not even a mortgage on any of his houses.

Fri, 08/05/2011 - 05:29 | 1526003 baby_BLYTHE
baby_BLYTHE's picture

He also said treasuries would rally around then, got that call right on as well.

Fri, 08/05/2011 - 06:23 | 1526049 Ghordius
Ghordius's picture

And he is telling everybody to buy a small amount of physical PM every month, regardless of the price.

Fri, 08/05/2011 - 04:59 | 1525974 Snidley Whipsnae
Snidley Whipsnae's picture

In this interview at King World News on 27 July, 2011, Faber states 'I am invested 25% equities, 20% gold, etc...'

Of course Faber is a big believer in investing in emerging markets. Faber is also on Sprott's board of directors and invested in Sprott's various silver funds.

The full interview may be heard here... http://kingworldnews.com/kingworldnews/Broadcast/Entries/2011/7/26_Dr._Marc_Faber.html

Fri, 08/05/2011 - 07:43 | 1526142 Central Bankster
Central Bankster's picture

Faber is heavily invested in equities?  When for years he's been bearish on equities and saying buy gold?  Yah, I'll have some of what you're smoking.

Fri, 08/05/2011 - 04:18 | 1525946 DutchR
DutchR's picture

One of The Bernank's ink cartridges washed ashore empty, so I guess he printed some QE3 paper allready: http://farm3.static.flickr.com/2290/2147301542_80fe5b588f.jpg?v=0

Fri, 08/05/2011 - 04:21 | 1525947 falak pema
falak pema's picture

A golden bear and a sooth sayer...Joseph Balsamo of the Wall Street ponzi. 

Hats off, and helmets on!

Fri, 08/05/2011 - 04:32 | 1525955 chump666
chump666's picture

i guess faber can't work out why investors are buying up usts

Fri, 08/05/2011 - 09:02 | 1526407 DosZap
DosZap's picture

chump@04:32

The Faber has a right to wonder, I am in awe of the flight to stupidity,buying a rifle that fires back at your head instead of where you point it, makes no sense.Suicide by self..........Buy UST's & Bonds.

 

Fri, 08/05/2011 - 17:42 | 1528357 IQ 145
IQ 145's picture

yes. 100%. It is truely amazing.

Fri, 08/05/2011 - 04:33 | 1525956 Moe Howard
Moe Howard's picture

Long ink.

Fri, 08/05/2011 - 04:34 | 1525957 Gustave
Gustave's picture

Seems like Mr. Faber tries to sell a szenario that is best for Gold.

Fri, 08/05/2011 - 04:37 | 1525958 Alex2245
Alex2245's picture

Interesting alert from economic prism.

 

When The Voters Get WHACKED - Again

Horrible debt celing deal and then stock market crashes  500 points.. Thank you congress!

 

http://theintelhub.com/2011/08/05/economic-prism-when-the-voters-get-wha...

Do NOT follow this link or you will be banned from the site!