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Marc Faber Says World Heading for `Major Inflection Point’
Posted By admin On October 12, 2010 @ 9:37 am In Money Watch | Comments Disabled
Jun Yang and Saeromi Shin
Oct 12, 2010
Global markets are heading for an “important turning point” as interest rates begin to rise within about three months and the U.S. dollar gains, according to investor Marc Faber.
Investors should buy stocks and sell cash and bonds because governments are continuing to print too much money and may create a new “credit bubble,” Faber, publisher of the Gloom, Boom & Doom report, told reporters during a forum in Seoul today.
“Instead of interest rates going down, they could start to go up, instead of the dollar being weak, it could strengthen,” Faber said. “I’m ultra-bearish on everything, but I believe you’ll be better off owning shares than government bonds.”
The Dollar Index slid 8.5 percent last quarter, the most since June 2002, and dropped 1.3 percent this month after Federal Reserve Chairman Ben S. Bernanke signaled he may add money to the economy. That new supply is reflected in exchange rates, based on how the currency reacted to the last round of so-called quantitative easing, said HSBC Holdings Plc, BNP Paribas SA and Nordea Bank AB. The central banks of Israel and Taiwan raised borrowing costs in the last 15 days.
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URLs in this post:
 Bloomberg: http://www.bloomberg.com/news/2010-10-12/faber-sees-global-turning-point-credit-bubble-update1-.html
 Having A Supply Of Healthy Foods That Last Just Makes Sense (AD): http://www.efoodsdirect.com//index.html?aid=14&adid=43
 Image: http://www.homegain.com/homevalues
 Marc Faber: Fed Policy Will Destroy The World: http://www.prisonplanet.com/marc-faber-fed-policy-will-destroy-the-world.html
 Marc Faber: The Fed Is Creating Dangerous Bubbles Around The World, And Stocks Will Tank In October: http://www.prisonplanet.com/marc-faber-the-fed-is-creating-dangerous-bubbles-around-the-world-and-stocks-will-tank-in-october.html
 MARC FABER: The Stock Market Has Peaked: http://www.prisonplanet.com/marc-faber-the-stock-market-has-peaked.html
 MARC FABER: ‘I Keep In My Toilet A Picture Of Mr. Bernanke’: http://www.prisonplanet.com/marc-faber-i-keep-in-my-toilet-a-picture-of-mr-bernanke.html
 MARC FABER: Obama Is A Disaster, The Stock Market Should Have Fallen 50%, And You Should Buy Yourself A Machine Gun: http://www.prisonplanet.com/marc-faber-obama-is-a-disaster-the-stock-market-should-have-fallen-50-and-you-should-buy-yourself-a-machine-gun.html
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