Marc Faber, "Possibility that all the Bailouts Fail"
Marc Faber in the latest edition of the Gloom, Boom & Doom Report writes, “We shouldn’t dismiss entirely the possibility that all the bailouts fail to revive credit growth and that a deflationary secondary depression is now under way.” “The sharp deceleration in credit growth, with rising default rates across the board, could suggest that debt liquidation is now occurring…[but] Ben [Bernanke of the US Fed] and Hank [Paulson of the Treasury] may replace private debt with government debt in order to bail out the system.”That such a bailout will diminish the purchasing power of the Dollar even more (it should be highly inflationary) is clear…”Under this scenario, renewed US Dollar weakness and strength in commodities – in particular, in gold – should reappear.”
Source:
http://goldnews.bullionvault.com/Gold_trading_range_volatility_090920084
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