Marc Faber on a Global Crash, the U.S. Treasury Bubble and China's Slowdown

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Welcome to Capital Account. Another day with record lows for the US Treasury, both the 10-year and the 2-year. Could this be the biggest bubble we have ever seen? We talk to famed investor Dr. Marc Faber, Publisher of the Gloom Boom and Doom Report. He joins us from Agora Financial's symposium in Vancouver.

As the global economic slowdown continues, we ask Marc Faber, Author of "Tomorrow's Gold: Asia's Age of Discovery," about his short-term outlook on China and what the recent low in Chinese steel futures contracts indicates about the economy.

Also, more reports have come out about the civil and criminal Libor probe. The Wall Street Journal reports more than a dozen traders from at least nine banks are under investigation for rigging interest rates. We have heard a lot about the probe, but not much about the Libor rate itself. What are the alternatives to a benchmark interest rate which is the underpinning of an estimated $550 trillion in financial products? We talk to Bob English, contributing editor for ZeroHedge and EconomicPolicyJournal.com.

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  News & Politics

[blackpythonsc]

i like how rt interviewer doesnt interrupt the interviewee out of nowhere, at least she let her interviewees finish their sentence before asking the next question..

[yoyuepz]

I give another example, in the west if you have more then 10000$/year they ask questions where that money is from. And the max to withdraw from an ATM is 500$/daily ? How much regulations is there in USA or UK ? Lets go to China, it takes 5 minutes to open a bank account, you get 9% interest a YEAR over 50000$ and you can withdraw from the ATM 2000$/daily NO questions, NO BS, no "what you going to do with the money". The real communist is the west, the real capitalist is china.

[rooooooby]

I love how he is always chuckling in all his interviews.

[luvcheney1]

There is no law against withdrawing over $10,000 in cash. There is a law the bank will report it to the IRS if you take that amount OUT, or deposit that amount IN, with cash. If you go to an automobile dealer, and pay cash currency for a car over $10,000, it will get reported. Of course, writing a check for the amount will not. It is unusual in modern society for people to deal with so much "cash", and usually when people say they paid "cash" for a house, or car, they mean writing a check.

[yoyuepz]

If you want to believe your fairy tells then believe them, but they do ask questions. And for your 40000usd pls upload a receipt from the bank in flv format so that we can all see it is realt, we wont want any photoshop edit now do we? And a recording, otherwise means you talk BS. For my evidence just pick a bank from GZ china and see it for yourself. The ATM is just an example of the amount of bureaucracy in the western nations compared to countries which understand what business is all about

[luvcheney1]

I withdrew about $40K around time Lehman went down, from Wells Fargo CD`s. I was asked NO questions as to why. I wouldnt want anyone thinking my ATM card was good for huge withdrawels, this is a recipe for kidnapping and theft. Want a lot of money, go in the bank branch. You MAY be asked to order cash, if it isnt there. Banks, as all businesses, compete for customers. Stealing isnt actually conducive to attracting business. NO WAY all depositors can EVER get all their money out. ANYWHERE.

[yoyuepz]

The max withdrawl is not to protect the customer, banks do not care about customers, they steal from customers, what planet are you on? It is to protect the banks and give them excuses for them to keep the money, which happened in greece 'a run on the banks'. And whom are the people who lobby for this introduction? They do report it to the IRS and they do ask questions, however in china I saw one guy take out 100000usd no questions asked, you telling me the US banks will not ask a question.

[luvcheney1]

The max withdrawels from ATM is to protect consumers, from extortion. It is bank policy, not Federal. You can withdraw what you want, inside. I have withdrawn far more than $10,000 (cash), and they say NOTHING. Be advised, they do report that to IRS. Same if you go into a dealership, and pay $20,000 cash for a car, it will be reported. It relates to taxes, isnt illegal to do it, and no worries, unless you have drug money, or something illegal going on.

[YouKnowThatIKnowYou]

She's hot and has a brain.... C'mon guys ... Win/win..seriously.

[Dreama40]

This woman likes to hear her own voice, just ask the question a shut the fuck up, hes the expert not you bitch.

[FreeSilverBars]

people in general need to master that basic skill!!! And yes to John below, we are genuinely giving away FREE Silver Rhino Bars....

[gunsngold]

As an American whom is very proud of what I thought we were and of the conservative values that we are now in search of, I can say to RT lay off of the sexy stuff. I appreciate a good looking women, but I am no sex fiend, nor do I want to perpetuate an immoral lifestyle for the future of the orthodoxical beleif system. Their are plenty of us whom have admiration for Russian due to the orthodoxy christian beleifs that remain predominant there, so don't try to apeal to us in the wrong way.