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Krystina Gustafson
CNBC
Saturday, June 20, 2009
The US is headed toward hyperinflation, and within five to 10 years it could have inflation rates of 10 to 20 percent, said Marc Faber, editor and publisher of the Gloom, Boom & Doom Report.
“In every society, when you have large fiscal deficits combined with easy monetary policies … the likelihood that you will have high inflation is very, very high,” Faber said. “And it happens very quickly.”
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June 20th, 2009 at 3:39 am
Marc Faber, knows that US inflation will be both greater than he predicts, as well as much sooner.
He was being very ‘conservative’ in this interview.
June 20th, 2009 at 6:43 am
Won’t happen. Inflation will most likely occur but not hyper-inflation.
There will be a war to end all wars before the USA allows that to happen.
voteyesondrno Reply:
June 21st, 2009 at 5:29 pm
War is inflationary. This is one of the evils of fiat currency since there are absolutely no restrictions with regards to financing. It is hard to have wars when you are chained down by real money. You simply can’t print endless amounts of gold and silver. I urge you to read The Creature From Jekyll Island. Another thing about war is that it is very unpredictable, and it has ruined many great empires which of course ruins their economies. One fairly recent example of this is Russia being bogged down in Afghanistan, and now the United States. Wars a very expensive especially when the other side is only spending a fraction of what we are.
June 20th, 2009 at 7:45 am
This is so complex for a simpleton to understand. Lets see… Our checking account has been raided by theives, and is overdrawn but our checks will continue to be accepted at the current value. That proves inflation is of no concern. I feel better now.
If your money is completely worthless you can not have inflation.
June 20th, 2009 at 9:04 am
Come on…American will not go quietly into that good night.
They will simply refuse to repay the debts and threaten anyone who refuses to “trade” with them.
This will not happen in the media but will be done behind the scenes by (al)CIA(da) et al. If this fails then with the good old fall back option of NBC (Nuclear, Biological, Chemical) weapons.
The best way to shut up a country demanding that the FSA Fascist States of America pays back its debt is to give them the flu, if that fails a stratospheric nuke destroying every electronic device in their country should do…then watch the rest of the world cower and give America goods they know they will never be paid for.
But if this does happen then be aware it is just Britain, the owner of America Corp, divesting itself of its debts by funneling them all into one spot and declaring bankruptcy. Again the media will not report this so just keep watching the happy happy joy joy shows on the idiot box and take your meds and dream on rather than getting up and destroying the system that has screwed you out of your country.
pitofdoom Reply:
June 20th, 2009 at 12:56 pm
I love reading optimism.
wildcat Reply:
June 21st, 2009 at 4:53 pm
“Britain, the owner of America Corp.?”
http://www.dailyexpress.co.uk/posts/view/96040
EVERY household in the country will soon owe the equivalent of £50,000 in national debt, a damning report into Labour’s mishandling of Britain’s finances revealed last night.
As families brace themselves for eye‑watering tax rises in this week’s budget, figures from accountants Grant Thornton show that the UK Government will have built up debt of £1.32 trillion – £1,320,000,000 – by 2014.
June 20th, 2009 at 9:32 am
So does this mean that will have to wait 5 to 10 years to cash in on our gold and silver?
Who here has purchased a pile of gold or silver thinking that in 2 or 3 months the world was going to end?
Why the F**K didn’t Marc Faber and the rest of the clowns say that sooner?
THEY GOT US! AGAIN!!
WHO ARE THE CRIMINALS HERE??
I FEEL JUST AS RIPPED OFF BY THE GOLD GOONS AS I DO BY THE FED!
WHO HAS BEEN MANIPULATED??
Anyone who has purchased gold/silver.
5 to 10 years give me my money back and I’ll go buy some land. In 5 to 10 years it’ll be a working farm.
We’ve been had!!!
Again
I want my money back and and dumping all my gold/silver.
andrew Reply:
June 20th, 2009 at 12:19 pm
thats dumb…what are you going to put it into? the dollar is headed down. gold is not flying above 1000 yet, but its not going down either…stay with it. it will probably top 1000 before the year is over i bet.
June 20th, 2009 at 9:34 am
And also forgot
THE OPERATIVE WORD IN THE ARTICLE’S DISCRIPTION is “COULD”.
Meaning that is probably won’t happen!
You aren’t getting anything for your gold or silver.
George [Costanza] Reply:
June 20th, 2009 at 9:14 pm
http://www.shadowstats.com/article/hyperinflation
June 20th, 2009 at 9:39 am
Tell this guy to go FUCK HIMSELF: http://www.midasresources.com/
George [Costanza] Reply:
June 20th, 2009 at 9:44 pm
What about Bob?
http://theinternationalforecas.....rinflation
freedoublethinker Reply:
June 21st, 2009 at 11:54 am
why is everyone so mad about gold and silver? I doubt anyone buys gold and silver as a speculative investment to make dollars, it just doesn’t work that way. Its a safe haven for capital. If you don’t have money to invest then don’t buy gold. simple. 5 years is basically a short term investment.
June 20th, 2009 at 12:59 pm
This rock ain’t got -510 yrs. Within 3 at the outside ALL will know where were standing.
But I’m allergic to fire & brimstone!
June 20th, 2009 at 1:42 pm
BEWARE, the gold dealers are just as crooked as Wall Street.
Madman Reply:
June 20th, 2009 at 4:26 pm
Indeed my friend, indeed.
Invest that money in things you can USE, not a chunk of metal you can use as a door stop. A little silver, after you get the gist of your supplies, food, etc… otherwise, unless your fairly well off, gold is out of reach for most.
June 20th, 2009 at 2:48 pm
Regarding “Gold,” what the hell are you guys talking about?
Even if you bought at $1,000 per ounce (the absolute top) you’re down less than 10%. …if you bought at $500, $600, $800, even $900 you’re up (which is more than what you can say for those dollars in your pocket.)
And even IF they were able to somehow stabilize the dollar’s value (and they’re not doing anything right now that is going to accomplish that) the WORST you’d be looking at is maybe a 30% or 40% decline in the value of gold…it is never going to drop to zero. You cannot say the same for the dollar.
Besides, you should be buying gold and silver as insurance, not as a “get rich quick” vehicle. You buy it and you put it away as “emergency funding.” There are two benefits: 1. You have money stashed in case you need it and 2. In the event you HAVE to dig it out (because the dollar’s value is crashing) you’ll be using it when it has its greatest value.
You think they’re going to turn this around? Fine. Sell your gold and silver. Rely entirely on the Federal Reserve’s fiat / DEBT money. Put some of that crap under your mattress for a rainy day. …just don’t be surprised if you wind up with thousands of “dollars” that won’t buy a dime’s worth of goods.
If you want to know more about the different kinds of money, and why some are more dangerous than others, read this:
http://www.dishonestmoney.com/.....money.html
June 20th, 2009 at 4:21 pm
Why 5 or 10 years? Will it honestly take the rest of the world that LONG to realize that the USA is bankrupt, and our cash is just as valueless as the money in Zimbabwe?
June 20th, 2009 at 4:51 pm
The amount of credit being issued has decreased to the point that the money system has frozen due to no one wants the credit. We are experiencing deflation, not inflation. The US is the borrower of last resort to keep enough money infused in the system. There is none to pay people and interest. It is quite incredible these mines that were laid in 1913.
The systemic collapse WILL occur and a new system must take it’s place. Push for Monetary Reform! Read http://www.monetary.org/index.html and http://www.webofdebt.com/articles/ .
George [Costanza] Reply:
June 20th, 2009 at 9:46 pm
The banks are hoarding the capital.
Deflation will win out in the end, but there will be hyperinflation, barring another false-flag AND planetary war.
DebtorSlave Reply:
June 21st, 2009 at 5:59 pm
G(C)- Deflation is occuring as we speak. Deflation is the contraction that is occuring. Read the above articles at http://www.webofdebt.com/articles/ . The top article addresses the issue.
June 20th, 2009 at 5:18 pm
Plus 100 for Joe Plummer. Anyone who spent their life savings on gold/silver to get rich was foolish. It’s an insurance policy against inflation, and a smart one at that. It will never be worth zero, and, if it is, that means the world is ending and we’ve got bigger problems than making sure we get our money back. If I had any gold/silver I would hold it and just wait; the gov’t is spending the dollar into oblivion and the gold/silver will retain value.
June 20th, 2009 at 7:26 pm
$$$$$$$$$$$$$
is all you yanks think about, it never occurs to you thick monsters, you yanks commit mass murder to drive your economy. one day it’ll be on your doorstep. when that happens how will you oppressed facsimiles of life feel about that?
bye, bye america
Madman Reply:
June 21st, 2009 at 6:02 am
Actually, it did occur to me…
We enslave the rest of the world at cheap labor prices, and call it outsourcing.
We starve people because they won’t do what WE say, and call it economic sanctions.
We murder people for profit, and call it war.
We thrust our way of life on anyone we get a chance, and tell them it’s freedom, as we set up a new dictator or puppet government for them, that then sells their resources or labor to us at pennies on the dollar, effectively looting the wealth of their nations.
We wake up and raise our flags in the morning, breath in the polluted air, and say, god bless the USA, when the USA has the blood of millions on our hands, either directly through our actions, or through our inaction, such as in Darfur.
There will be blood, and a violent revolution soon… in this land, and gold and silver will only matter, when the bloodshed and violence has stopped.
June 20th, 2009 at 8:29 pm
Who bought gold,
Gold and silver are up. Unless you have millions of dollars to go short, you don’t expect to make money in a few months. Forget about the peaks and dips, instead look at any chart and you see that both gold and silver have been steadily climbing for years.
5 years ago gold was under $380 and silver was $6. Today it’s near $1000 and $15. Gold and silver is doing everything it’s supposed to do.
Madman Reply:
June 21st, 2009 at 6:22 am
Gold and silver are proven investment vehicles, if you are in it for the LONG HAUL. The people that bought a huge amount of it, looking to flip it, like they used to do houses,in a month or two will end up sadly less wealthy than what they started. The prices and values of gold and silver fluctuate, it’s the nature of the beast, so to speak. I say, stock up on things you can use, and after that, if you have enough food, water, etc to live comfortably for a year, with NO INCOME whatsoever, then invest some of that extra money in silver. Don’t go bat shit crazy, and morgage your home to get gold or silver.
I just get a silver coin or two a week. 14 to 20 dollars is like, going out to eat once for me, so buying a silver coin at 14 to 20 bucks, isn’t a huge deal.
Remember, frugality… be a spend thrift, don’t continue your same habits of going out, and maxing out a credit card, to get a few pieces of gold and silver.
Besides, gold and silver will only really come into play, after things stabilize enough for trade to happen. Think about Jerrico, in that scenario, it took what, 3 to 6 months for the people to stabilize enough to begin barter and trade, let alone exchanges for profit, they were more concerned about getting salt, sugar, food, etc than how many gold or silver pieces they could buy.
Just food for thought.
what Reply:
June 22nd, 2009 at 10:42 am
If it isn’t going to happen for 5 to 10 years then why not buy a house, farm, solar panels, etc.. and become self sustaining? It would be better to have food, water, and shelter than gold wouldn’t it? It might be smart to have some gold before hyper-inflation starts but I think employment, food and water will become much more of problem sooner much sooner. You’ll run out of cash before gold gets anywhere near $2000 per once for example. If you can’t pay your mortgage or rent then you’re screwed.
June 20th, 2009 at 8:31 pm
liars,
It’s not “us yanks” you embicile, The same group of criminals who control our countryl controls yours dipshit.
Madman Reply:
June 21st, 2009 at 6:04 am
Yep, the NWO controls it all, and Yanks, Brits, or whomever, we all have blood on our hands, either through our actions, or our inaction.
But, I don’t see anyone in the Militias getting ready to do anything, other than to protect their homes, when the gun grab comes… and by then, when the gun grab starts, it will almost be too late.
June 20th, 2009 at 8:32 pm
“We the people” doesn’t include us.
http://www.pentwhistle.com/
June 20th, 2009 at 8:40 pm
“all you yanks” Please do not assume we “yanks” are all the same, the average American isn’t the one doing the things you mentioned and even though you may say we let it happen you should not underestimate us.
The American dream is still alive and whats happening right now might be just what we need to be “awakened” Yes we have become complacent and and some are sheeple who are dependent on the government, but we will only take so much before we start fighting back. It looks like that time is almost here, I only hope the people in our military can see who is the real America and who is really our enemies when the time comes. Because like many other countries or people, we have no chance against our full blown, commited military power.
Madman Reply:
June 21st, 2009 at 6:06 am
If you think we don’t have a chance now, wait until Canada, and Mexico’s troops are on our soil, protecting us from evil gun owning terrorist!
June 20th, 2009 at 9:56 pm
We can only hope it’s 5 or 10 years away. The present U.S. monetary and fiscal policies are not steering the nation in the right direction. Hope for the best but prepare for the worst.
No person knows for sure what’s going to happen and when it’s going happen but indications are not good.
June 20th, 2009 at 10:41 pm
in my opinion the powers that be will start a major war before allowing the nation to go down economically. When they start a war, the people are distracted, they rally behind the president, and the money once again flows because of the “military industrial complex” goes into high gear.
Madman Reply:
June 21st, 2009 at 6:08 am
Yup, why do you think we are talking smack to North Korea, pushing around Iran and screwing with their election, and irritating Russia? Once the rest of the world figures out were BROKE, the fight will come to us, and not at a time of our choosing.
June 21st, 2009 at 2:06 pm
Invest in cock roaches. They will never go out of style… Heck they will outlive the humans when the world gets nuked by the space aliens!
June 21st, 2009 at 9:05 pm
SINEP…THINK ABOUT IT…
June 21st, 2009 at 10:40 pm
MRE S MRE S MRE S
June 23rd, 2009 at 12:54 pm
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