Marc Faber: Central Bankers Are Criminals. Once COVID Is Over, The Elites Will Go To War

Central bankers

Legendary investor, economist and market forecaster Dr. Marc Faber thinks central banks (CB) are not going to cut back the money printing.  Just the opposite.

He predicts CBs are going to print even more money at a faster pace to hold the failing economic system together for a little while longer.  Dr. Faber explains,

“What is perceived to be safe, namely cash, isn’t safe anymore.  It is unsafe.  You ask me what is safe?  I don’t know what is safe anymore when you have money printers who print money indefinitely.  I don’t think they can stop.  I actually think they have to accelerate their money printing.  So, stocks may go up, but in real terms, it doesn’t mean your standard of living will go up.  Maybe the standard of living of the 50 richest people in the world will go up, but not the standard of living of the typical American … or the average American.  That standard of living will go down. … All the money printing is a desperate measure to keep the voters from rebellion.”

Dr. Faber predicts that not only are we going to see more asset inflation, but dramatic wage inflation too.  Dr. Faber, who holds a PhD in economics, says,

“What I think will happen, and most people have not really considered, we will get wage inflation.  For the first time since the late 1970’s, we will get accelerating wage inflation, and in some cases, quite dramatic.   In some states, the minimum wage is $15.  I could see that going up to $30 per hour very quickly.  I don’t think inflation is ‘transitory’ (as the Fed proclaims).  We will not have stagflation.  We will have something worse.  We will have rising prices and a depression in the standard of living of most people.

Dr. Faber says the U.S. stock market is “overpriced and over-owned.”

He likes stocks in foreign countries, real estate “far outside the cities” and physical gold, silver and some cash.  Faber also likes some crypto currency in one’s portfolio.

Dr. Faber is less worried about the economic picture and more worried about the rise of socialism and communism in the western world.  Faber contends socialism destroys economies and liberty.  Faber points out,

“I can tell you one feature of all the socialist countries I have visited in my life, and all of them had less freedom, less happiness than we have, and the standards of living were substantially, not a little bit, but substantially lower than they are in the free capitalistic world. … I am sorry to say that I think the western world has gone down a very dangerous path where essentially, through zero interest rates, everything is free.  Then you get the unintended consequences.”

So, with inflation going up and the standard of living going down in the West, is the possibility of war going up?  Faber says,

“Correct.  I think once this Covid19 thing is over, the elite, the ones who make the money, will go to war.  That is the last recipe to keep the population together.

Join Greg Hunter as he goes One-on-One with Dr. Marc Faber of the “Gloom, Boom & Doom Report.”  9.4.21

In an additional interview, this time with Wealthion’s Adam Taggart, Faber blasts Bernanke, Yellen, and Powell “as the lowest-grade bureaucrats I’ve seen in history.”

“These people will continue to print money.”

“The academics will say we didn’t print enough.”

“Central bankers are criminal.”

As Mike Shedlock notes, Faber’s portfolio is 25% precious metals, 25% real estate, 25% equities, and 25% bonds. Faber predicts cash will vanish, but will be replaced by “equally bad” central bank cryptocurrencies.

“Who do want to control your money,” asks Faber.

“The beauty of gold and silver is nobody controls it.”

Also, Faber says “don’t forget: the Fed will always lie, the same way US generals misrepresented the hapless conditions in Afghanistan to the world in order to keep the war-profiteering machine going.”

And reminds readers to remember the words from Leo Nikolayevich Tolstoy:

“In all history there is no war which was not hatched by the governments, the governments alone, independent of the interests of the people, to whom war is always pernicious even when successful.”

Zero Hedge

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