On the heels of increased geopolitical tensions, particularly in Ukraine, and the Greeks manevering to avoid default, today legendary Marc Faber warned King World News that the Frankenstein global financial system is going to collapse.
Eric King: “There are over one quadrillion dollars of derivatives that could melt down the global financial system.”
Marc Faber: “My take on this is simply that derivatives will not survive for the next 2,000 years….
Continue reading the Marc Faber interview below…
Derivatives Market To Disappear Within 5 Years
“It’s something that has developed and it will vanish. My suspicion is it (the derivatives market) will be gone within 5 years.
Just Buying And Selling
And I want to introduce another thought to you: I was recently in London and I visited some hedge funds and so forth who are clients of mine and I said to them:
“Look, the problem of the world is that all of you should be working in a productive enterprise, in a productive profession. You are buying and selling the whole day, whether it’s stocks, bonds, futures, or derivatives. And the guys in the building opposite to you — they do the same. And there are thousands of buildings in London and New York that do the same thing.”
All of these people do not lead to much economic growth. They just buy and sell assets. It would be much better if they worked in a productive profession on farms or as electricians. They are all smart. They could all do something. But no.
Frankenstein Global Financial System To Collapse
Through the money printing of central banks, the financial sector has become a huge Frankenstein — a huge giant that is no longer controllable, except through more money printing. And one day this whole thing will collapse.” ***This is one of Marc Faber's greatest audio interviews ever and it has now been released! To listen CLICK HERE OR ON THE IMAGE BELOW. The written interviews only contain 7 percent of what is in his outstanding audio interview. Faber makes some absolutely remarkable predictions about the world economy, gold, derivatives, stock and bond markets and much more.
***ALSO JUST RELEASED: Paul Craig Roberts – The World Is Now On The Cusp Of Total War CLICK HERE.
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