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Marc Faber On The Death Of Fiat Money - "Dollar Will Go To A Value Of Exactly Zero"

10-26-2009 • Zero Hedge

Also on Zero Hedge today

Coming to a Federal Reserve near you: Russian banks count pigs, lingerie as collateral from creditors (Bloomberg) George Soros: Don't ignore the need for financial reform (FT) CIT continues delaying the inevitable: sweetens, extends exchange offer (Reuters) German consumer confidence falls for the first time in a year (BBC) Is California finished? (The New Republic) Nouriel Roubini: Big crash coming (Index Universe)

1 Comments in Response to Marc Faber On The Death Of Fiat Money - "Dollar Will Go To A Value Of Exactly Zero"

Comment by Jim Bennett

Entered on: 10/26/2009 10:47:19 AM

YES THE CURRENT INTEREST PAYMENTS IS $24,000 PER SECOND. READ THAT AGAIN $24,000 A SECOND. THE TREASURY CANNOT PAY AT THIS RATE NOR BUY BACK THE BONDS, SO THEY JUST KEEP ROLLING THE DEBT OVER AND SELL MORE BONDS WITH FIAT MONEY TO THE FEDERAL RESERVE. IT IS CALLED (BY THE FED) COST FREE EARNINGS. WAKE UP AMERICANS, IT MAY ALREADY BE TOO LATE.

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