Marc Faber on the debt threat

[Tomta20012]

moodys r a lying bunch of crooks

[TheCashistrash]

the guy from moody's when faber was talkling looks like he just shit his pants.

[RSCII]

@TheCashistrash LMAO!!!!!! That's precisely what I was thinking. He wasn't expecting or probably told in advance Faber would be on. I'm surprised he's getting as much airtime as he has.

[MrArtrigor]

Moodys is a fraud...Nobody must believe them..They  recently gave a good credit rating to the most corrupt government in Asia, the Philippines, with huge budget deficit and high debt to GDP ratio similar to Portugal.

[quadcatfly]

i have one word for you; gold n silver !!!

[SimeoneZone]

CNBC is a joke... Faber knows what is happening though... Moody's is a joke..

[AFRIKTODAY]

This moody's guy doesn't have any legitimacy whatsoever! They were unable to "grade" the assets that were sold during the "bubble" and misinformed alot of investors about the quality of different assets! Overrated indeed! Garbage! If you want to understand what is going on, study Austrian economics!

[Misiti99]

Ron Paul is not anywhere close to being a racist.. you're obviously a government agent

[TheInvinciblePixel]

fed, the next enron?

[chapthe]

Well done, Dr. Faber!

[zaggy3110]

Maybe a stupid question:

Is it actually in the interest of Moodys to downgrade US / UK Who owns Moodys? Warren Buffet -if I am not mistaken. And he won't allow a downgrading of his home country

[lisajason111]

The basis of optimism is sheer terror -- Oscar wilde. these Englishmen should learn their own literature

[mheine2006]

There is no debt threat, vote obama.

[spanishaustralian]

r u on drugs?

[edthehead1975]

And the racist, warmongering, borrow and spend Republican party is going to help? As a great man said in the Youtube video posted on this page:

WE ARE DOOMED

There's something totally sociologically inevitable about the whole thing. Nothing can stop it until it runs its course. If its too late when it's over, then it's just too late.

[spanishaustralian]

yeh like the repulican democratic party any diference. all parties have same agenda when they get in power the inertia of the bureaucracies kicks in and drags what ever party leader in the same direction which is more wars, more evil and distructive inflation by central banks and commecial banks and ever increasing subsidies for corporations who have lobbyied & merged themselves with ever growing in size government. america the most facist country. obama the communist puppet.

[spanishaustralian]

Elections are stolen from you obama is not honestly elected.

[savemyplaylist]

@spanishaustralian

I'd like to believe that, but I live here and know, the American public is as dumb as they get. Trivial, fickle (like edthehead1975), simple minded and obsessed with vanity.

When I was getting my undergrad, I saw the retards they let into one of our "finest" universities, it is truly sad...

[spanishaustralian]

but people are dumb for a reason we are really all the same remember. we are not dumb you'll probably find they are scientifically making the public ignorant and stupid bombarding us with dishonesty and unimportant information. leaving anything important to the few at the top or those lucky enough to find there way out of this facist maze like you and me.

[savemyplaylist]

@spanishaustralian

I don't mean to sound pompous, but what's so hard about going on youtube and finding some Ron Paul, Marc Faber, etc. videos? Wasn't hard for either of us.

If the general public is incapable of doing that, they are either lazy as hell or just plain retarded. Neither is any good.

[spanishaustralian]

i stumbled across Ron Paul by accident. and it has changed my life for EVER. people generally dont understand how dangerous things really are. they are most probably to busy to seek the facts. i got heaps of time to study this cause i am single and have no obligations. but i agree there are really dumb fucks around like this guy "edthehead1975" who thinks Ron Paul is a racists.

[spanishaustralian]

Ron Paul only one who should be leader no one else.

[edthehead1975]

As much as I like Ron Paul's economics his past association with white supremacists makes him nonviable as the leader of a political movement. I don't believe a man who is a staunch opponent of torture is a racist, but in a nation and world where the economic ruling class shall be Chinese and Indian immigrants, even participating in a newsletter with white supremacists is unacceptable.

[savemyplaylist]

@edthehead1975

hahahhahhahahha!

He's our only hope and your pissing and moaning about some made up shit?! What are you 12? You sound so fickle it's frightening.

Honestly, even if it were true, I could care less. His voting record speaks for itself and that's ALL that matters.

[edthehead1975]

Denialism is a sign of immaturity. The newsletter that Ron Paul participated in is very real; the fact that it was also a vehicle for white supremacy in addition to economic talk is also very real.

[savemyplaylist]

@edthehead1975

If being in "denial" is immature, than what is being fickle and trivial? Even if Ron were a racist, his voting record does not reflect that one bit. And that's all that matters.

[edthehead1975]

What does it mean when you don't actually read what the other person writes? I explicitly said that I don't believe that Ron Paul is a racist, and I'm not even being paid to repeat myself.  Nonetheless, associating with them, due to shared anti-federalist values, is not acceptable. Not to be a leader of a political movement. He can still be a tremendous issue advocate.

[spanishaustralian]

yes you said he is associated with racists. he is the most extreme non racist you will ever see in your entire life. Ron Paul is fucking Brilliant and Fantastic.

[edthehead1975]

You are inherently dishonest. You are mischaracterizing what I said, and then discussing the micharacterization. "Associated with racists" is a vague clause that could mean a lot of things. Ron Paul chose to associate with racists, an undeniable truth. I also said I don't believe he is a racist, and for the 2nd time I'm not getting paid for repeating myself.

[AFRIKTODAY]

@edthehead1975

What are you even talking about dude? " associated with racist" yet not a "racist"? Make up your mind! What about antisemite for standing against Zionism? Typically, people who are unable to stand with the contain of their ideas and the depth of their theories will often tend to attack the character of their opponent. Paul is no racist, far far from being one. I am one of his supporter and I am of African descent. Cheap blow dude, utter cheap blows!

[edthehead1975]

@AFRIKTODAY Yes, being anti-zionist is racist and merely a cover for being an anti semite.

[spanishaustralian]

the only racist and liar around here is you. Ron Paul is a genius and most probably the mosrt important person on the planet. you want to put shit on him that makes you scum.

[edthehead1975]

@spanishaustralian Ron Paul supports the John Birch society (don't know if he is actually a member), which opposes the supreme court's interpretation of the due process clause of the 14th amendment, which applies all the protections of the constitution to the states. If you take away that interpretation, all the civil rights legislation of the 60s (at the least)becomes unconstitutional. This is not a racist position to take per se, but it's the same position as white supremacists.

[edthehead1975]

@spanishaustralian Ron Paul is no genius because he didn't create any of the ideas on politics or economics that he adheres to. There are great thinkers, Mises and Hayek being the two most commonly cited. Ron Paul is merely a politician who has value in his ability to communicate with middle brows, but he is no great man.

[AFRIKTODAY]

@edthehead1975

How do you define anti-federalism? For your information, the USA was founded as a voluntary association of 13 states! As a matter of fact, a large majority of the then citizens were British supporters!

What do you mean by anti-federalism? Paul stands for State rights rather than THE FEDERAL GOVERNMENT CENTRALIZATION OF POWER!!

[AFRIKTODAY]

You are an ignorant! Are Arabs Semites or not? When you say anti-semitic, where do you draw the line since Arabic is a semitic language?

[spanishaustralian]

whats drugs are you on mate? Ron Paul is 100% without a fucking doubt non racist in everyway possibly imaginable. you my friend get your information from retarded propagandist resouces. you are an idiot believe in fairy tales. Ron Paul a racist haha thats ridiculous. RUBBISH

[chatsworth777]

The FED said that they won't monetize the debt after the first quarter. $ 200 billion more is all we get. The Treasury isn't in any position to print money. I doubt that US GOV can force the FED to print. Where does that leave us?

[spanishaustralian]

do you americans need deposit to buy a house?

[chatsworth777]

Ya tango dos casas,,, pague efectivo,, gracias.

[spanishaustralian]

two homes? you rich.

[spanishaustralian]

but really. did you need deposits? do you still need deposits?

[edthehead1975]

You need a down payment on a mortgage. Not sure what you mean by "deposit." There's no requirement to hold a bank account to own a house.

[edthehead1975]

Give me a break. When has Bernanke ever done what he said he would do? Everything they say is a bunch of bullshit to try to manipulate people's behavior.

[spanishaustralian]

right on dude. 100% right on.

but onto deposits and down payments. a deposit in australia is just a down payment as you say when buying a home. what is the minimum down payment you guys need to buy a home now?

[spanishaustralian]

i remember you needed zero at one stage we too could buy a home with no savings to add to the purchase. but here we are not allowed to just walk away from our commitments we are forced to honor our contracts so i guess the crash wasnt as severe. governments should enforce contracts thats very important.

[Lingerfoot]

@edthehead1975 - What does Marc Faber mean when he says that the FED is a corporation and it needs to be audited? Peace and God Bless The United States of America!

[emichik86]

@Lingerfoot it's been a while since u asked the question. If you haven't already found out, it means just what Marc said. The fed is a corporation comprised of a bunch of banks that loan money to the US government. The govt (us taxpayers) pay interest on this money. The fed is so powerful that it is not audited like a normal corporation would. That needs to change otherwise they will run the US into the ground (with the help of our politicians)

[vention4wh]

I don't trust anything these days. I'm just paying down the last of my mortgage. I should be totally debt free in about 11 months. Once I accomplish that I'll start saving through buying assets, possibly metals, each month until I have enough for a big down payment on a property that will have room for a big permaculture garden. I'll turn that home into a homestead that will produce for me. If the economy crashes first at least I'll have some PMs to work with. It's something at least.

[jfcrow1]

Don't forget your guns.

[vention4wh]

jfcrow1

I have a decent number of guns, ammo and such. It's shocking because I was a left wing liberal who drank all the coolaid before I woke up back in late 2007. Nowadays I'm about as prepared as a city guy can get, for anything from an economic collapse to an EMP burst. Got an EMP proof diesel truck, seeds, tools, and family who live in a small town where I'd bug out to.

I'm prepared for disaster but if one doesn't happen, I still want that home with a big garden.

[Budvb]

lol You could say the same about America! And Deficits really don't matter when you are running a Debt based currency as a Fiet Currency! We need to go back to Gold and Silver as the Currency, that isn't based on Debt because it takes alot of work to create!

[gr8mikeY]

LOL! Moody's guy looked like he was about to cry during Marc's lecture!!!!

[FinanceUS]

Moody's is a part of the system, they wont downgrade the usa until after the MAJOR collapse, which is comming soon.

[myyootube]

Perhaps Goldman Sachs is paying Moody's to give the US and UK, AAA ratings - so that they can short them.

[madridisinSpain]

@myyootube The US will always have AAA rating because they print the money. It's the value of the dollar that you should be paying attention in the long run. Other countries have trouble with rating.

[myyootube]

My comment was sarcastic and a poke at Goldman. I doubt the US will ALWAYS have an AAA rating because I doubt they will always be the world reserve currency. I've been paying attention to the value of the dollar for many years and have invested accordingly - It has lost 40% of its value against the USDX over the last 7 years and 96% of its value since the Feds inception in 1913. The PIIGS (Portugal, Ireland, Italy, Greece & Spain) will be downgraded first but the UK and then US will follow.

[madridisinSpain]

@myyootube No, but my point isn´t that. First of all i agree completely with everything that you say. I was just pointing out that the rating concept involves the probability that the us will "default" on its debt obligations. Countries like greece, portugal or spain might default and ratings have to be adjusted . But for the us its impossible, since they will print the money rather than default. People pay too much attention to the rating, and not enough to the value of the currency.

[madridisinSpain]

@myyootube and the world reserve currency idea is a long long long run concept (where i agree also) but its gonna take at least 15-20 years before comming reality i would susspect. First we will see a cup of coffe costing $100. And salaries rising to $200.000 a month, and milk at $120. etc. And ratings of the us debt remaining AAA. Do you agree with me on this point? I think this is how its gonna happen....

[myyootube]

Printing as oppossed to default, is simply a longer journey to the same destination. For many reasons, I don't think a country could maintain AAA ratings, if its currency is worthless. As a country's currency is devalued by printing/inflation, its debt will have to be downgraded. As to how things will work out - roll the dice - who knows. If history is a clue, I think the only predictible thing is the ultimate outcome - but i dont think anyone can tell you how or when.

[MarcusCMarcellus]

How can anyone from Moodys show their face and speak earnestly about credibility? These Tools always speak so reasonably they say nothing.

[pschiffforsenate]

"We're doomed, we're all doomed." Marc Faber January 22nd, 2010

[Seano71]

A downgrading of the UK and US and an audit of the FED will see precious metals skyrocket

[vinny1010]

2:58 - LMFAO!!

[wcarlpdrysdale]

Only a day or two,,, AFTER they crash :)

When it's time to buy gold,,, Kramer's-amerika will let you know with 100% hind-sight .