Marc Faber

"Believing In Bernanke Is Like Believing In Santa Claus"

other notable quotes from the good doctor:
“I keep in my toilet a picture of Mr. Bernanke. And every time I think about selling my gold, I look at it and I know better!”

"If you look at what happened in Cyprus, basically people with money will lose part of their wealth, either through expropriation or higher taxation. The problem is that 92 percent of financial wealth is owned by 5 percent of the population. The majority of people don't own meaningful stock positions and they don't benefit from a rise in the stock market. They are being hurt by a rising cost of living and we all know that the real incomes of median households has been going down for the last few years. What happened in Cyprus will happen everywhere in the world, in Western democracies."

"If I had to vote for either Obama or Romney I would shoot myself."

"In order to protect their assets, investors should buy themselves a machine gun…I need to buy a tank. Joking aside, look, we have manipulated markets. Whenever you manipulate markets, you will get unintended consequences."

“In the 40 years I’ve been working as an economist and investor, I have never seen such a disconnect between the asset market and the economic reality ... Asset markets are in the sky and the economy of the ordinary people is in the dumps, where their real incomes adjusted for inflation are going down and asset markets are going up. Something will break very bad.”


"Ireland is a Nation of Pimps and Obama is the Hypocrite of the Century."

Irish Politician Clare Daley

"the Taoiseach has showcased the Republic as a nation of pimps, prostituting ourselves in return for a pat on the head."

"there was speculation whether the Taoiseach was going to deck the Cabinet out in leprechaun hats decorated with a bit of stars and stripes to really mark abject humiliation."

"there had been almost unprecedented slobbering over the visit of US First Lady Michelle Obama"

" We’ve had separate and special news bulletins by the State broadcaster to tell us what Michelle Obama and her daughters had for lunch in Dublin but very little questioning of the fact that she was having lunch with Bono, Mr Tax Exile himself."

" Mr Kenny is pimping Ireland as a tax haven."

Ms. Daley on Obama:
"Is this person going for the hypocrite of the century award? Because we have to call things by their right names, and the reality is that by any serious examination, this man is a war criminal."

"This is the man who has facilitated a 200 percent increase in the use of drones, which have killed thousands of people including hundreds of children,"


Bernanke's Tapir Moment


1 Million Protest in Brazil

If you know a Brazilian, you know that a Big Mac combo meal costs over $20 US, that in Brazil you don't call the police you call a relative or a friend, the politicians and therefore the police are hopelessly corrupt and that Brazil is a violent nation.

"[m]any have been united by a common concern for Brazil’s economy: even though incomes have gone up, Brazil’s new middle class has been demanding more from public services, and the rising cost of living, particularly food and services, has hit Brazilians hard.
American expatriate and Rio’s Gringo Café owner Sam Flowers says that food and labor costs have skyrocketed in just the last six months: “One product jumped forty percent in a week, many others are up 12 to 20 percent. Rent, food, transportation are all rising. Everyone is changing their spending habits and using credit cards more, some are even moving,” he tells The Rio Times.



Via Zero Hedge


“We’ve slipped away from a true republic. Now we’re slipping into a fascist system where it’s a combination of government, big business and authoritarian rule, and the suppression of the individual rights of each and every American citizen. When it comes to any significant differences on foreign policy, economic intervention, the Federal Reserve, a strong executive branch, a welfarism mixed with corporatism, both parties are very much alike. The major arguments in hotly contested presidential races are mostly for public consumption to convince the people they actually have a choice.”


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