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Marc Faber: “Next Week We Will See If Bernanke Is A True Money Printer Or Just An Amateur”

Zero Hedge [1]
Aug 5, 2011

“The whole world is mad” – so says Marc Faber when beginning his latest observations of the markets in the attached Bloomberg TV interview.

“Stocks will be dropping 30%, then rallying 20%, and dropping another 30% –  that’s going to be the pattern. And whoever can’t live with that shouldn’t be buying equities at all.”

And while the publisher of the Gloom, Boom & Doom report, said “there is a case to be ultrabearish about everything, and markets are going to go lower” he notes that markets are “extremely oversold” and he expects a “snap-back” rally in the U.S. Standard & Poor’s 500 Index of about 40-50 points.

That said, Faber sees no new highs in 2011. He concludes that he can already smell QE3, and that the “next week will be important to see if Bernanke is a true money printer or an amateur, and if he is a true money printer he will start printing soon.” We are confident that gold can’t wait to find out the answer.

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