Marc Faber Discusses U S Dollar, Stocks, Inflation, Meltdown

The inflation we are only beginning to see is already baked into the cake because of the monopoly money the Fed has already printed. To finance our increasing debt, we need to either borrow, print, or tax. China finally figured out there’s no way we can pay them back, so they’re not lending us anymore money. And there comes a point where if taxes are raised too much, what’s the point of working? And besides, if we were all taxed 100%, we still couldn’t get out of the hole we’re in. Our economic ship has hit a gigantic iceberg of debt and derivatives and is taking on water. And the captain of the ship, Obama, is purposely and repeatedly ramming the ship back into the iceberg. And the rest of our political leaders (and I use the term “leaders” loosely) are no better. If our economy is a patient in cardiac arrest right now, they only argue about what size band aid to put on the patient. And so the only arrow left in the quiver of the Fed is the printing press. The bottom line is our economic ship is taking on water and the Fed has been reduced to rearranging the furniture on the deck of the Titanic. Welcome to your new financial reality America. We are on the cusp of the Great Depression 2—wider and deeper and vaster in scope and scale than the Great Depression 1 because we are drowning in a vast sea of debt, a deluge of derivatives on a scale and scope that dwarfs all else. The best thing you can do for yourself and your family right now is start preparing for economic collapse. It’s time to batten down the hatches. If you haven’t drawn near to God yet, this would be a good time to start. God knows how to take care of those that belong to Him during times of famine.