Economist, global trend analyst and well know Doctor of Doom, Marc Faber, suggests that with so many monetary, fiscal and political variables at play, the end game of this crisis can be delayed for months or years to come. Faber, who has warned since before the 2008 crisis that entire nations would fail due to high debt levels, that hyperinflation is an inevitable outcome of the Fed’s accounting games, and that war will be the ultimate result, shares his views on CNBC:
[Video Interview Below]
I don’t know what other people think, but what I think will happen eventually – and there are so many contradictory statements coming out that nobody really knows – but eventually the same will happen as in the United States. The ECB (European Central Bank) will print money one way or the other. And, the debts that essentially should be written down to realistic value will continue to be carried on the books of banks at unrealistic values. So, the end crisis will be postponed until the sovereigns go bankrupt.
Before they go bankrupt they’ll print money. They’ll print endless money. As long as we have Ben Bernanke and Janet Yellin at the Fed they’ll print money and so they can postpone the end game endlessly…Endlessly not, but say for another five to ten years.