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Eric King:  “What is the biggest danger in the financial world as you see it?”


Faber:  “I think we have many dangers.  The biggest danger is governments themselves with their interventions into free markets, and their fiscal policies....


Continue reading the Marc Faber interview below...




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“In other words, increasing or decreasing government spending.


Usually it’s an increase, and as a result the government becomes larger and larger.  Of course the larger a government becomes, the less economic growth you will have.  The extremist, socialist-to-communist economy that we had in the Soviet Union and China, it was a complete failure economically speaking.


The other danger is that the Federal Reserve and other central banks around the world, they think they can essentially steer economic activity by printing money.  This money printing has a number of unintended consequences that will eventually be very costly.


It’s not the first time the Fed has intervened.  They intervened after the S&L crisis, after the Tequila crisis, after LTCM in 1998, and then after (the year) 2000 when the Nasdaq collapsed.  They kept interest rates artificially low which led to a credit bubble, the housing boom and subsequent collapse.


You can postpone the problems by printing money, but then the problem comes back to an even larger extent.”


Eric King:  “We’ve been talking about the one quadrillion dollars of derivatives here at KWN recently, Marc.  Does the sheer amount of derivatives risk the danger of a 2008 style collapse?  Is that (risk) still out there?”


Faber:  “Yes.  If you look back at 2007, before the crisis occurred, and today, the level of credit in the world has increased.  The imbalances have also increased. 


And the sovereign credit of countries has essentially diminished in quality.  Now we have a huge bond market rally because of artificially low interest rates, but I think the next stage in the rolling crisis that we will have will be sovereign defaults.”


This is part II of a series of interviews with Marc Faber that will be released today.  Faber discusses everything from gold, to the end game, government theft, global stock markets, bail-ins, how investors can protect themselves, gold, silver, central planner actions and much more.  The written portion above is just a small part of this extraordinary interview.  The KWN audio with Dr. Marc Faber is available now and you can listen to it by CLICKING HERE.


© 2013 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.


The audio interviews with Marc Faber, Stephen Leeb, Dr. Benn Steil, Eric Sprott, Andrew Maguire, John Hathaway, Dr. Paul Craig Roberts, MEP Nigel Farage, Rob Arnott, Egon von Greyerz and Art Cashin are available now.  Also, other outstanding recent KWN interviews include Jim Grant and Felix Zulauf by CLICKING HERE.


Eric King

KingWorldNews.com

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