Faber’s advice to academics and underlings employed by the Fed who want to keep their job: “Don’t expose the system, just shut up.“
Companies aren’t very big on whistleblowers. It tends to be bad for business.
RonJ
2 years ago
” Bernanke, Yellen, Powell are the lowest-grade bureaucrats I’ve seen in history.” “These people will continue to print money.”
Had Greenspan been able to get himself appointed for life, he would have been printing money since when Bernanke started. Greenspan was a gold bug before he became Head FED, then became one again, after he left the job. That is how the game is played.
PostCambrian
2 years ago
I subscribe to Adam Taggart and have watched all of his interviews for about two years. He is a sort of a precious metals buff (without being a completely insane goldbug) and a current economic policy skeptic, who typically interviews people with similar views. He conducts his interviews without sounding too extreme or negative. Although I am open to more types of investments than he typically lets his viewers know that he likes. Overall he is quite good and has some great guests. I thought that Marc Faber was actually one of his worst guests. Faber had very few facts, figures, or coherent reasoning to back up his opinions and he sounded sort of like Dr. Strangelove. I kept expecting his right arm to shoot up in a salute. It really surprises me that Mish feels like Faber’s book is the best investment book ever. I will have to check it out just because of Mish’s recommendation. Faber’s investment mix makes sense though and it is similar to mine but I have much less gold and much more real estate. The interview that Taggart did that scared me the most was with Luke Gromen, who I had never heard of until I saw him interviewed by Taggart. Check that one out. link to youtube.com
Eddie_T
2 years ago
Definitely a permabear. I quit reading him a decade ago. I see that his outlook hasn’t changed much. At least he’s consistent.
I agree with him on sovereign cryptos, fwiw. And I agree metals are undervalued…..I think his portfolio makes sense….for someone like him, with huge net worth. It makes less sense for somebody like me.
Doug78
2 years ago
I have never seen an interview or article with him in it that wasn’t ultra-bearish and I have been watching him since the 1990’s and yet stocks have skyrocketed since then. Eventually I suppose he will be right, eventually.
In a serious crash, gold may the best place to be. Since there won’t be a crash if the Fed can stop it, it stands to reason that anything that has benefited (inflated) from the Fed will be a bad place to be–ie, stocks, bonds, real estate. Keeping in mind that as of July 14, 2021, the Federal Reserve had a portfolio totaling $8.3 trillion (mostly longer term bonds), an ‘exogenous’ increase in interest rates might be hard to stop, even given that it could effectively bankrupt them. Now, what might cause an increase, outside of the Fed’s control–that’s my Black Swan event.
I am counting on Marc FAber being right about: “Bernanke, Yellen, Powell are the lowest-grade bureaucrats I’ve seen in history.”
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” Bernanke, Yellen, Powell are the lowest-grade bureaucrats I’ve seen in history.” “These people will continue to print money.”
Had Greenspan been able to get himself appointed for life, he would have been printing money since when Bernanke started. Greenspan was a gold bug before he became Head FED, then became one again, after he left the job. That is how the game is played.