John Manfreda and Jason Burack of Wall St for Main St had on returning guest Editor and Publisher of the Gloom, Boom & Doom Report http://www.gloomboomdoom.com/, Dr. Marc Faber.
Jason and John ask Dr. Faber about interest rates, financial repression, ECB QE, Swiss depegging, Greece leaving the Euro, the fake employment numbers, Asia, China, Gold and Gold Mining.
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Congrats, Jason & John. Dr. Faber is one of the best.
That guy was sort of rude.
The interest rates may stay low and even be mildly negative for a very long
term. Let me give you a scenario, there is a bank failure. Who on earth
would like to lose money in a bank failure. If I had 10 million dollars, I
would give it to the government rather than put in a bank (which may fail).
Now a govt may fail too, but a country like US will still give me the
nominal 10 million back. In a bank I could lose it all.
By the way, Dr Faber is one of the best. Loved the show