Marc Faber: Global Financial System To Be ‘Reset’ By Imploding Markets

This past Tuesday, “Doctor Doom” Marc Faber appeared on CNBC’s Squawk Box via Hong Kong. The Swiss-born investment adviser/fund manager issued a stern warning to viewers:

I can’t tell you precisely the day, but I think the whole global financial system will have to be reset at some problem. And it won’t be reset by central bankers, but by imploding markets- either the currencies or the debt markets or the stock markets. But it will happen. It will happen one day big time and then we will all be lucky if we still have 50 percent of the asset values that we have today…

For sure there will be pain, and there will be very substantial pain. The question is, do we take less pain now through austerity, or risk a complete collapse of society in five to ten years time. And in a democracy, they’re not going to take the pain now. They’re going to kick down the problems, and they’ll become bigger and bigger.


“Market Will Drop 20% Next Year: Faber”
CNBC Video

(Editor’s note: I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein)

Share

Tags: ,

Friday, November 16th, 2012 Bonds, Crash Prophets, Currencies, Investing, Stocks
Survival And Prosperity
Est. 2010, Chicagoland, USA
Christopher E. Hill, Editor

Successor to Boom2Bust.com
"The Most Hated Blog On Wall Street"
(Memorial Day Weekend 2007-2010)

PLEASE RATE this blog HERE,
and PLEASE VOTE for the blog below:



Thank you very, very much!
Advertising Disclosure here. Ad captions last reviewed/updated 3/7/17.
ANY CHARACTER HERE
Freeze Dried Food FREE GIFT WITH PURCHASE; Free Shipping (domestic orders). Review coming soon.
ANY CHARACTER HERE
Family-Owned & Operated in Chicago Suburbs! SAVE 10% OFF ALL ITEMS (promo code- home page); Free Shipping (U.S. orders) & Returns. Review coming soon.
ANY CHARACTER HERE
Buy Gold And Silver Coins U.S. GOLD (BULLION) COIN/BAR SALE!; 90% Silver U.S. Dimes & Quarters Sale; Secondary Market Silver Sale (1 oz. coins, 10 oz., & 100 oz. bars); World Gold Bullion Coins/Bars also on sale; Free Shipping on U.S. orders $99 and up (only $5.95 below $99!). BGASC reviewed HERE.
ANY CHARACTER HERE
BullionVault World's Largest Online Investment Gold Service taking care of $2 billion for over 65,000 users from 175 countries. BullionVault.com reviewed HERE.
ANY CHARACTER HERE
FLASH SALE! 2-WEEK EMERGENCY FOOD SUPPLY $67; SAVE 15% OFF ALL CASE PACKS; Big Savings on "Deal Of The Day" page; Free Shipping on orders over $79. MyPatriotSupply.com reviewed HERE.
ANY CHARACTER HERE
bullet proof vestsWorld's First Bulletproof Baseball Cap only $129; Bulletproof Ceramic Plate (NIJ Level III Stand-Alone) only $169; Bulletproof Backpack/Messenger Bag Panel only $99. BulletSafe reviewed HERE.
ANY CHARACTER HERE
Survival Titles Save 20% SAVE 35% ON SELF-DEFENSE, COMBATIVES TITLES (promo code- home page); Discontinued Title Sale- Savings up to 75% Off Original Price. Paladin Press reviewed HERE.
ANY CHARACTER HERE
This project dedicated to St. Jude
Patron Saint of Desperate Situations



happyToSurvive

Categories

 

Archives

RSS Chris Hill’s Other Blog: Offshore Safe Deposit Boxes

  • List Of Offshore Private Vaults Updated
    The list of private, non-bank vaults outside the United States (offering safe deposit boxes/lockers at a minimum) located on this blog’s sister site- Offshore Private Vaults- has just been updated. Safe deposit facilities now open for business have been added under the following countries: -Hong Kong (Smart Secured Storage) -Liechtenstein (Liemeta AG, Triesen) -United Kingdom […]
  • Related Reading: The Telegraph Looks At Latest Security Technology In Bank, Private Vaults
    I’m back after several days spent on matters related to the research business (focus: specialized asset protection) I’m in the process of rolling out. Despite the “spring break,” I compiled a good deal of material to blog about in the near future. Getting back into the saddle then… “How to rob a bank” This headline […]
  • Next Degussa Numis Day To Take Place March 30, 31
    Rare numismatic coins often find their way into safe deposit boxes. And Degussa, a leading international player in the precious metals world which also offers safe deposit boxes (for customers) at branches in Germany, Singapore, Spain, and Switzerland, has posted information about the next Numis Day (first blogged about here) at their Geneva and Zurich […]
  • Related Reading: Switzerland, Canada, United Kingdom Top U.S. News & World Report’s 2017 ‘Best Countries’ Rankings
    Here’s an annual survey one might consider when selecting an offshore safe deposit box location. U.S. News & World Report just released its “Best Countries” rankings for 2017. Kevin Drew reported Tuesday morning on the American media company’s website: Switzerland is viewed as the No. 1 overall country, according to a survey of more than […]
  • Related Reading: London’s Sharps Pixley Spotlighted By The Spectator Magazine
    Monday evening I read an interesting article about London, England-based precious metals showroom/safe deposit box service Sharps Pixley (first blogged about here). Margareta Pagano wrote on the website of The Spectator (UK) this past weekend: When the going gets tough, the tough go shopping. And when the going is seriously tough- as it may be […]