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Dr. Marc Faber: "The US Government will go bankrupt."

I've been following Dr. Faber for many years. This guy is smart. His closing words to this interview: "The U.S. Government will go bankrupt. It is just a question of time."

http://www.youtube.com/wa...




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another Faber gem

http://www.youtube.com/watch?v=r4YMtE3uWac&feature=related

Doesn't mince words here:
Bernanke's thesis gets an F from Prof. Faber and is banished to work for the central bank of Zimbabwe - love it!

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"The essence of freedom is the proper limitation of government". ~ Founding Fathers

i've been reading up a little on Marc Faber and he's an

intriguing character.

He's written many books - some are on amazon - one book of his - "Riding the Millennial Storm: Marc Faber's Path to Profit in the Financial Markets" (Hardcover) is selling for $498!!!
another book of his "The Great Money Illusion; The Confusion Of The Confusions" you can acquire for $222.97!

Safe to say Marc is very hot right now!

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"The essence of freedom is the proper limitation of government". ~ Founding Fathers

WHO IS THE CREDITOR? Read this.

"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin
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http://www.dailypaul.com/node/69917

government of the people, by the people, for the people
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Didn't Roosevelt declare bankruptcy in 1933?

It has gone BANKRUPT! Off the GOLD standard off the SILVER standard. Why does everyone leave this out of the picture? Show me a time after Roosevelt declared bankruptcy that the Creditos have given back the control of the government that was transferred to them from 1933 to 1962(U.C.C. was enacted) and then from 1965 to 1971 when we finally went off the silver standard?

The Federal Government is bankrupt and the creditors like it that way. The problem is the creditors are now losing control of the debit hole they created and it seems to have a life of its own.
However, I wouldn't put it past them to be using the "Hegelian Principle" to further their agenda( thesis, antithesis, synthesis) create the problem so they can offer the solution that the people would not normally except.

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You're all bankrupt corporate trusts under the S.S.N. and because the bankrupt government created corporations they, the banksters(receivers) have the RIGHT to control you. Go back to your private Christian names or natural names, if you will, and live in the REPUBLIC.

JonQ.Publik

Live Free or Die, because if you're not FREE you're dead already!

JonQ.Publik

Resistance is not futile, what's futile is non-resistance.

Live Free or Die! Because if you are not free you’re dead already!

When we gave the FED a charter we were officially

bankrupt.

We give them our ridiculous bonds.

They give us their "currency."

We spend more than we collect....duh.

We are functionally bankrupt.

Dr. Paul has built his career on this fact.

Who cares what Faber thinks. We've been bankrupt since we gave the fed a charter.

Of course we aren't really bankrupt...we are being TOLD we are by the people who control us.

This way we can become part of the one world government...it is how they will save us from bankruptcy.

Unify

Please Digg -- Dr. Paul warned us

http://digg.com/business_finance/Ron_Paul_in_1999_on_the_Cur...

I'm not around often, and apologies if this is in the wrong place, but it's very important to Digg this story to the front page ASAP. There have been many stories lately trying to blame us "powerful" libertarians for this mess, and they're bullcrap.

(I just make sarcastic comments about how happy I am they spent so much of my tax money going-after 100% backed things like e-gold & the Liberty Dollar, while carefully ignoring hyperleveraged Wall Street *criminality*! This has the beneficial effect of pissing-off everyone who isn't too dumb to get it.) Anyway, please Digg if you can. And if you're in/near the east-central part of FL on Nov. 8th, please PM me.
JMR

I live in Orlando. On Nov.8,

I live in Orlando. On Nov.8, what does "PM me" mean? Oh I will go Digg now.

"Every generation needs a new r3VOLution"- Thomas Jefferson

And when it is digg-ed to the front page

then what happens? I've never figured it out. Is that where the news gets its stories from or something?
My 9-year old niece is all into digg, I heard adults don't really spend much time there. What's the deal?

The deal is

People see it, lots more of 'em. And not just 9 year olds. It's a popular site with a variety of ages.
JMR

Digg is a very high traffic

Digg is a very high traffic site. Links to news stories that hit the front page of Digg often end up getting so many visitors that it crashes their servers. So the first benefit is getting the news out to this initial batch of people.

Then, many Digg users are also bloggers and use these stories to give them something to post about on their blogs. This helps to amplify the effect.

Overall, it's just another way to help spread the message to many more people.

...

"and that I guarantee you.

"and that I guarantee you. The U.S. government will go bankrupt. Is only a question of time. Sooner or later..."

So how do we prepare for something like that?

...

Food, gold, guns,

Food, gold, guns, ammunition, foreign currency, learn to speak Canadian....

how's that? eh?

I have no idea what you're talking aboot.

Notice how the background is

Notice how the background is similar to when Jim Rogers does his commentary from Singapore? These 2 gentleman were smart--probably figured it out a long time ago together. They ran to the money and are going to sit back and watch the implosion....

I for one, certainly hope

I for one, certainly hope he's right. The sooner the better.

bump

Faber is a good dude! I

Faber is a good dude! I like him too!

"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson

I am more concerned about the return of my money than the return on my money. --Mark Twain

I exchanged a few emails with him before. He's a nice guy.

"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin
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government of the people, by the people, for the people
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It already is bankrupt.

It already is bankrupt. What will happen if we keep printing and spending is that the government will become insolvent because the dollar will be undermined and eventually destroyed.

ecorob's picture

but don't the elite globalists want this to happen...

i mean, if the current fiat monetary systems of the world collapse who would be in a better position to come out ahead than those who have all the gold, land, food, etc...the items of real value

isn't this exactly what happened in 1929 when the "rich" gobbled up everything that failed and preserved it for their grandchildren...and beyond?

many people say that this global catastophic failure would be too great, what is 100% of nothing, they say...didn't we have the very same thing in the depression?

i just think this is all their great big plan...am i wrong?

O Captain, My Captain, rise up and hear the bells!

its 'cos I owe ya, my young friend...
Rockin' the FREE world in Tennessee since 1957!
9/11 Truth.

Republicae's picture

Remember, there are some

Remember, there are some very extreme differences between now and the 1930, the major thing was that our money was still backed by gold at that time, even after 1933 the money was only debased by around 50%. Today, the money is backed by debt, it is a liability on each side of the accounting book.

http://www.1776solution.blogspot.com

http://militantjeffersonian.com

"We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun

wow.....

In loom of all that, what will happen to us if our government goes bankrupt, what happens to our "personal" debt?
__________________________________________________________
"The real terrorist's are in this country and they are not planning to blow us up, but rather, take our money, our freedom, and our country."

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"The real terrorist's are in this country. They are not planning to blow us up,......... but rather, take our money, our freedom, and our country."

I would imagine that prior

I would imagine that prior to the U.S. government going bankrupt the politicians will do whatever they could to avoid it. That might mean confiscating everything and anything they can, jacking up taxes, etc, etc. All of that will be futile, but I still do not expect the gov to go down without a major fight.

The big thing, though, and directly related to your question about debts, is the printing press. The U.S. will most certainly print, print and print some more. The government will print whatever it needs in order to pay bills even to the point of completely destroying the dollar.

Once the dollar is destroyed, via hyperinflation, you will be able to sell the smallest item and pay off probably every penny of your debt. There are stories from back during the Weimar Republic about farmers paying off all their debts by selling a single egg....

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I love the way he laughs

quite heartily at the beginning of the interview in response to the just plain silly statement of the blond talking head. There is a part of me--with respect to our inevitable bankruptcy--that can't wait to say, "I told you so!" Does that make me evil? ;)

LOL!

No, just righteous, because I feel the same way!
__________________________________________________________
"The real terrorist's are in this country and they are not planning to blow us up, but rather, take our money, our freedom, and our country."

__________________________________________________________
"The real terrorist's are in this country. They are not planning to blow us up,......... but rather, take our money, our freedom, and our country."

It already did.

The United States has been bankrupt since Nixon reneged on the promise to redeem dollars for gold. We've been running on credit ever since.

-jcr

"The problem with trying to child-proof the world, is that it makes people neglect the far more important task of world-proofing the child." -- Hugh Daniel

Michael Nystrom's picture

That s right!

The US declared bankruptcy in 1971. The MSM simply says we "went off the gold standard," or "closed the gold window." Not true. We changed the rules, because under the old rules, we were bust.

Like Dr. Faber says, it is only a matter of time.

All art is only done by the individual. The individual is all you ever have, and all schools only serve to classify their members as failures. E.H.

That probably at least

That probably at least partly explains Fort Knox not being audited for so long. They don't want us to know that all the gold is gone...

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Thanks Michael

for the informed Facts. :)