Mark Faber aka "Dr. Doom" says economy may lead to war

[5412]

Marc Faber, the Swiss fund manager and Gloom Boom & Doom editor, said eventually there will be a big bust and then the whole credit expansion will come to an end. Before that happens, governments will continue printing money which in time will lead to a very high inflation rate, and the economy will not respond to continued stimulus.

Speaking at a conference in Singapore on Wednesday, Faber said: "The crisis has not solved anything. On the contrary there is less transparency today than there was before. The government's balance sheet is expanding, and the abuses that have led to the one cause of the crisis have continued".

"I think eventually there will be a big bust and then the whole credit expansion will come to an end," Faber added.

"Before that happens, governments will continue printing money which in time will lead to a very high inflation rate, and the economy will not respond to  stimulus".

In one of his Gloomiest predictions, Faber, referred to as Dr Doom, said "the average family will be hurt by that, and then in order to distract the attention of the people, the governments will go to war".

"At some stage, somewhere in future, we will have a war - that you have to be prepared for. And during war times, commodities go up strongly,” said Faber.

<SNIP>

http://www.bi-me.com/main.php?c=3&cg=2&t=1&id=42214

[JohnnyReb]

"I repeat what I have said in the past," Faber said. “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 (in the long term) useless."

RELATED ARTICLES

...and if you procrastinate like I do, you might have to get out your rifle and rusty pliers.

Just say "  " and you'll know which one to shoot.

[DumbAss Tanker]

In the long run, we're all dead, and he seems to have his 'eventuallies' mixed up with his 'Nest months.'  Unless he can come up with something a Hell of lot tighter than what's in that piece, he's useless.  Gold going higher?  No shit, Sherlock, everybody agrees on that one because of the burgeoning debt issue.  In a global economic collapse where physical ownership of farmland is your haven, the gold will only be good for tooth fillings.

[5412]

In the long run, we're all dead, and he seems to have his 'eventuallies' mixed up with his 'Nest months.'  Unless he can come up with something a Hell of lot tighter than what's in that piece, he's useless.  Gold going higher?  No shit, Sherlock, everybody agrees on that one because of the burgeoning debt issue.  In a global economic collapse where physical ownership of farmland is your haven, the gold will only be good for tooth fillings.

HI,

Better have some junk silver if it gets that far.  The gold you need must be portable so you can exit the country if you have to.

regards,
5412

[bkg]

brass and lead will be much more valuable than silver or gold...

unless we're taken over by werewolfs... then we'll definitely need the silver! 

[DumbAss Tanker]

HI,

Better have some junk silver if it gets that far.  The gold you need must be portable so you can exit the country if you have to.

regards,
5412

I'm actually with bkg.  Precious metals are useless in that scenario, and if it happens, there is no place in the entire hemisphere that is going to be any better than sitting tight where I am.

One thing about precious metals that all the doomsday thinkers fail to take into account is that all the runaway inflation occurs before the final crash, afterward any new currency is going to be incredibly deflated and the precious metals at that point will be bottomed out.  Buying heavily into gold is a bubble, it's great if you get out at the right point before the crash but if you are sitting on it when the shit hits the fan, it turns into a sink for your wealth instead of a store for it.

[DefiantSix]

Agreed Tanker.  I'm willing to bet that the fear mongers who're selling all the gold they can lay their hands on understand that model too.

As for me and my house, our investments are in comodities which will always have value.  If it's going to take a wheelbarrow full of cash to buy a loaf of bread, then the man who has what he needs to make his own bread is a wealthy man indeed.

[JohnnyReb]

You know something, 50 years ago my 'dumb' daddy used to tell me, "In the depression there was plenty of stuff to buy but nobody had any money. In the next depression they'll be plenty of money and nothing to buy.".....you know.... he might have been right.

[DefiantSix]

You know something, 50 years ago my 'dumb' daddy used to tell me, "In the depression there was plenty of stuff to buy but nobody had any money. In the next depression they'll be plenty of money and nothing to buy.".....you know.... he might have been right.

I used to hate it when I had to make admissions like that. 

[bkg]

I'm actually with bkg.  Precious metals are useless in that scenario, and if it happens, there is no place in the entire hemisphere that is going to be any better than sitting tight where I am.

One thing about precious metals that all the doomsday thinkers fail to take into account is that all the runaway inflation occurs before the final crash, afterward any new currency is going to be incredibly deflated and the precious metals at that point will be bottomed out.  Buying heavily into gold is a bubble, it's great if you get out at the right point before the crash but if you are sitting on it when the shit hits the fan, it turns into a sink for your wealth instead of a store for it.

Excellent points.

My craigslist searches are typically limited to "3pt", "3 pt", "3 point", "attachments", "implements", and "toyota tundra"... hey, I'm a toyota guy. 

There are a few 3 point attachments that I would like to get in the next 6 months, just to be safe.

[DumbAss Tanker]

"Hey, I'll trade ya two fryer rabbits for that Krugerrand.  No?  Okay, no problem."

 

[Chump]

Agreed Tanker.  I'm willing to bet that the fear mongers who're selling all the gold they can lay their hands on understand that model too.

As for me and my house, our investments are in comodities which will always have value.  If it's going to take a wheelbarrow full of cash to buy a loaf of bread, then the man who has what he needs to make his own bread is a wealthy man indeed.

 

A lot of this type of advice is aimed at folks who are interested in maintaining their wealth in the event of global catastrophe and beyond.  As someone pointed out, simply saying, "Gold!  Silver!" is ridiculuous because you must be able to accurately time deflationary, inflationary, and hyper-inflationary pressures.  Otherwise, you're the bag-holder for your betters.

I'm guessing your average person is going to be focused on more important things, for example, not starving, not getting shot, and not dying from the common cold.

[bkg]

Anyone find it ironic that the libs want people to crowd into the city and prevent people from owning land and being self-sustaining? I do. Look at the piggy-flu. If it really was bad (hasn't been on the news much lately, eh?), people in the city would have massive die-off... while people where I live would look out the window at the deer and smile.

I laugh at my sister's belief that she will always be able to go to the grocery store for whatever she wants because the city is good and country is bad. I laugh even harder at the idea of her showing up on my doorstep if this shit really does hit the fan and she's able to escape the city.

Oh...

Wait...

She has no clue where I live. 

I need to go buy some more implements. And a Ford 8n tractor... just to tinker with. Sure, my neighbors will hate me, but who cares? 

[Chris_]

I laugh at my sister's belief that she will always be able to go to the grocery store for whatever she wants because the city is good and country is bad.

You might want to remind her of one word........Katrina........

doc

[bkg]

You might want to remind her of one word........Katrina........

doc

That was Bush's fault in her eyes. Would never be an issue w/ her savior.

[Baruch Menachem]

"Hey, I'll trade ya two fryer rabbits for that Krugerrand.  No?  Okay, no problem."

   Rice and potatoes and onions are a better store of value than krugerands.  Also nice to have a bit of land to plant them in.

But I don't believe 0bama will consider his job done until we are reduced to eating grass and acorns, like they do in North Korea.   His ego seems bigger and more ridiculous than Dear Leader's.

[5412]

You might want to remind her of one word........Katrina........

doc

Hi,

I have a friend that used to say that if something like Katrina hit it would take 24-48 hours before total anarchy.  Now he readily admits he is wrong, took no more than 2-3 hours.  Grocery stores, liquor stores, and arms stores will be looted in a matter of an hour. 

5412

[Chris_]

Hi,

I have a friend that used to say that if something like Katrina hit it would take 24-48 hours before total anarchy.  Now he readily admits he is wrong, took no more than 2-3 hours.  Grocery stores, liquor stores, and arms stores will be looted in a matter of an hour. 

5412

Likely.....the idea that large cities are vast havens of security for their populations is just more "feel good" propaganda.........when you take an unbiased view of the actual logistics that are required to keep a large city in food, water, medical supplies, and other survival basics, it makes absolutely no sense to live in one under adverse conditions........you are completely dependant on trucks, trains, ships, and electricity in vast quantities, and all of the mechanisms required to receive and distribute the materials. In a situation where all of the logisitcs break down anarchy will happen as soon as the population is aware that the supply chain is no longer there........

I'm with DAT.......we own a medium-size farm not far from where we live, and even if there is no fuel for us to run the machinery, we can plant enough to survive, and have a surplus to barter.......plus deer, turkeys, pheasant, rabbits, squirrels, the ponds are stocked with fish, ect.,.......we will have plenty to eat, even after the livestock runs out........the denizens of the cities will be eating each other.........or providing us with a "target-rich environment".........

doc

[5412]

Likely.....the idea that large cities are vast havens of security for their populations is just more "feel good" propaganda.........when you take an unbiased view of the actual logistics that are required to keep a large city in food, water, medical supplies, and other survival basics, it makes absolutely no sense to live in one under adverse conditions........you are completely dependant on trucks, trains, ships, and electricity in vast quantities, and all of the mechanisms required to receive and distribute the materials. In a situation where all of the logisitcs break down anarchy will happen as soon as the population is aware that the supply chain is no longer there........

I'm with DAT.......we own a medium-size farm not far from where we live, and even if there is no fuel for us to run the machinery, we can plant enough to survive, and have a surplus to barter.......plus deer, turkeys, pheasant, rabbits, squirrels, the ponds are stocked with fish, ect.,.......we will have plenty to eat, even after the livestock runs out........the denizens of the cities will be eating each other.........or providing us with a "target-rich environment".........

doc

Hi,

While you are on target, I want to caution you.  I have a cousin who lives on the same farm his father farmed 60 years ago.  I commented to him recently that he could live off the land.  His comment was "not anymore".  It seems he is on the edge of a large city and when folks get hungry he is too close to town, he would have to stay awake 24-7 with a shotgun just to protect his food supply. 

More I thought about it, I agreed.  Folks in Montana and the Dakotas might get cold but they will likely not go hungry.

regards,
5412

[Chris_]

Hi,

While you are on target, I want to caution you.  I have a cousin who lives on the same farm his father farmed 60 years ago.  I commented to him recently that he could live off the land.  His comment was "not anymore".  It seems he is on the edge of a large city and when folks get hungry he is too close to town, he would have to stay awake 24-7 with a shotgun just to protect his food supply. 

More I thought about it, I agreed.  Folks in Montana and the Dakotas might get cold but they will likely not go hungry.

regards,
5412

Well.....our farm is nowhere near any city, and there are likely enough of us to discourage any interlopers........all you really need to do is kill a dozen or so of them, and let their bodies rot on the fences as "scarecrows" the rest of the rabble will get the message and move on......

doc

[DumbAss Tanker]

Well.....our farm is nowhere near any city, and there are likely enough of us to discourage any interlopers........all you really need to do is kill a dozen or so of them, and let their bodies rot on the fences as "scarecrows" the rest of the rabble will get the message and move on......

doc

Bingo.  To say I am 'Off the beaten path' is a gross understatement.

[bkg]

Hi,

While you are on target, I want to caution you.  I have a cousin who lives on the same farm his father farmed 60 years ago.  I commented to him recently that he could live off the land.  His comment was "not anymore".  It seems he is on the edge of a large city and when folks get hungry he is too close to town, he would have to stay awake 24-7 with a shotgun just to protect his food supply. 

More I thought about it, I agreed.  Folks in Montana and the Dakotas might get cold but they will likely not go hungry.

Two points. 1 - landmines. 2 - 1st year Winter die-off will be high in the northern states... and because of the cold, many, many people will try to crowd into the Southern states. So I would argue that TX will have a very large and very lethal "war" on their hands. I anticipate they will have a northern wall prior to a southern wall.

[Chris_]

Two points. 1 - landmines. 2 - 1st year Winter die-off will be high in the northern states... and because of the cold, many, many people will try to crowd into the Southern states. So I would argue that TX will have a very large and very lethal "war" on their hands. I anticipate they will have a northern wall prior to a southern wall.

Not that they would think about it, but if they did, I suspect they would select a softer target such as AZ or NM........There are more guns in Texas (and folks that know how to use them), than in the US Army........

As Admiral Yamamoto once said "........there would be a rifle behind every blade of grass......."

doc

[5412]

Not that they would think about it, but if they did, I suspect they would select a softer target such as AZ or NM........There are more guns in Texas (and folks that know how to use them), than in the US Army........

As Admiral Yamamoto once said "........there would be a rifle behind every blade of grass......."

doc

Hi,

You are giving folks too much credit for being smart.  While you are spot on in my opinion, I doubt many up north would even give it a thought about AZ or NM over TX.  How about we let them all go to southern CA???

Actually, when you think about it Mexico might have to defend it's border......not to mention there would be a lot of homecomings from their own.

regards,
5412

[vesta111]

Hi,

While you are on target, I want to caution you.  I have a cousin who lives on the same farm his father farmed 60 years ago.  I commented to him recently that he could live off the land.  His comment was "not anymore".  It seems he is on the edge of a large city and when folks get hungry he is too close to town, he would have to stay awake 24-7 with a shotgun just to protect his food supply. 

More I thought about it, I agreed.  Folks in Montana and the Dakotas might get cold but they will likely not go hungry.

regards,
5412

Why do you think any farmer can survive when the government had these seeds on the market that will not propergate.?  In some places if one plants non genetic seeds and the pollen blows into a neighbors crops, they can be fined.

I got interested by stumbling onto a site that sells natural seeds and some of the statements they made about hiding the seeds from seasure.  Darn, I became really disturbed by this and the more I search the weirder it gets. 

I started a thread on this subject but received no information so far. 

Can we actually today plant food from seed plants that are reproducing,--- the seeds we buy in nursery's are these food seeds like the flowers we have to plant from new seed each year.?

People cannot plant seeds that will not reproduce themselves and expect to get a crop next year.

This is like clipping a Bull and turning him out with the cows and wondering why he has no interest in them. Why are we ignoring the fact that these genetically engineered plants are sterile.?

Government has found a way with science to prevent people from becoming self sufficient, they no longer can plant corn, dry some and use the seeds next year to plant more. 

I do wonder what the eating of altered plants will do to the birds that ingest them.  Will we now face another Silent Spring or worse a Spring with the Sky's full of birds that may be diseased due to the food they ate.?