Copyright: include link to this article on top of reproduction if you use it.
Investing guru Marc Faber advises investors to switch off Ben Bernanke, ignore his government-sponsored “We will keep inflation in check” line — and be sure to buy gold to protect yourself.
“Government is there to do something for itself, not for people,” he observes.
Faber says the government will have no choice but to print money like crazy and soon.
He points out the huge existing debt and the financial crunch that’s coming by 2018 when more retiring Baby Boomers make demands on Social Security and Medicare,
Don’t buy bonds or keep your money in cash, Faber counsels: Put money instead into things that will hold their value, like gold, preferably stored outside the U.S.
“With a chairman like Mr. Bernanke, I would assume that cash will be worth zero,” he says.
“Gold … has been a relatively stable commodity, unlike oil, which (last year) went from $147 to $32 a barrel.”
“I repeat what I have said in the past,” Faber says.
“No decent citizen should trust the Federal Reserve for one second. It’s very important that everyone own some gold because the government will make the dollar useless.”
President Barack Obama said that when it comes to declaring the recession over, he’ll defer to Federal Reserve Chairman Ben Bernanke, The Wall Street Journal reports.
“I’ll leave that up to the Fed chairman to pronounce whether it’s officially over or not,” Obama told CNN.
Original article at Newsmax
- Dollar loses reserve status to yen & euroThe Banksters have destroyed our currency. Time to wake up your fellow citizens of the Republic of the United States. Get rid of your cash. Take your 401K and switch...
- Utah Considers Return to Gold, Silver Coins amid failure of US dollar“”People sense that in the era of quantitative easing and zero interest rates, something has gone haywire with our monetary policy. But people are afraid to say it,” said Bell....
- World wide gold rush sparked by dollar deathGold is the money of Monarchs…Silver is the money of gentlemen… Barter is the money of peasants…Debt is the money of slaves… Do the math and the IMF is selling...
- Coming depression to lead to another war: Faber“.. the average family will be hurt by that [governments printing money], and then in order to distract the attention of the people, the governments will go to war. People...
- US Fed Reserve Chairman is a liar: Peter Schiff“Peter Schiff, radio host and expert economist, joins Judge Napolitano on Freedom Watch to discuss the lies and hypocrisy of Federal Reserve chairman Ben Bernanke.” On the national debt, Schiff...
- Federal reserve touted as “central bank of world”“We’re talking about huge sums of money going to bail out large foreign banks,” said Senator Bernard Sanders, the Vermont independent who wrote the provision in the Dodd-Frank Act that...
This entry was posted on Friday, October 2nd, 2009 at 2:45 am and is filed under Survival Tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.