This video covers it all. Please watch.
Marc Faber:
“Let the banks go bankrupt . . . but guarantee the bank’s depositors.”
“The economic crisis and the financial crisis is a direct consequence of continuous U.S. government intervention into the economy through fiscal and monetary policies that have been designed to never have a recession.”
“With the stimulus package the government is proposing, especially the spending package, I think the depression will last longer, and the government, that is largely unproductive, will continue to grow at the expense of the private sector and crowd out the private sector.”
“There has always been an extremely close and cozy relationship between the regulators and between the government agencies, and government related enterprises like Freddie Mac and Fannie May, and Wall Street.”
“There is no free lunch. Someone has to pay. The problem arose because we have too much debt, not because we have too little debt. . . . that additional debt will not be spent very productively, because it’s spent by the government and not the private sector.”
The price of gold will be higher than the price of the Dow Industrials.
“The way I see economic policies in the world, and in particular, in the U.S. is print money, if it doesn’t work, print more.”
“It is not a failure of the free market that brought about the crisis, it is continuous intervention by the government.”