Ron Paul: The US is Broke and Already Over Fiscal Cliff

Ron Paul is interviewed on Bloomberg about the US presidential elections.

He explains that the US is broke, it already passed the fiscal cliff, and we reached a point of no return. I completely agree with this statement, and this has nothing to do with politics, it's just Maths, which most voters in the US and other "developed" economics do not seem very good at. That's actually frightening that only 1% of US voters seem to get it.

He carries on to say the problem is with the people, who just want more bailouts (and that's true both for poor, the middle class and the richest 1% of the US population). He gave the auto industry bailout as an example, and said the people in the Midwest did not vote for Mitt Romney because he had opposed the government bailout of General Motors and Chrysler. In that respect, the US is just the same as Greece as people do not wan  to cut anything, yet Greece is criticized and laughed at in the US.

Marc Faber Warns of Major Financial Catastrophe

Marc Faber is interviewed live from Hong Kong by Fox Business on the 21st of September 2011.

Marc Faber says he can't predict when the crash will happen but the stock market is going down because it's discounting a very bad event. However he does not know what the event is yet.

Amazingly he also praised Bernanke. But that was because he did not expand the balance sheet.

Faber says government intervention has gone so far that reducing intervention and lowering the deficit will cause temporary pain. He predicts President Obama will do anything to get the votes including providing handouts.

Marc Faber: Obama Irrelevant, Accumulate Gold

Marc Faber was on CNBC-TV18 (India) on the 9th of September 2011.

When asked about the Obama Job plan, he said it was mostly irrelevant as it is more of the same and the public deficit won't decrease.

He also gave his take on Bernanke and QE3 and said that quantitative easing was unlikely at the moment because the money supply (M1 I suppose) was growing very rapidly at the moment.

He would avoid industrial commodities at the moment and recommend Gold.

He expects the market to correct further around 1000 or below (S&P 500) even tough the current rally may last a bit further. Emerging markets would also fall as the US market corrects. So if he was heavily invested, he would lighten his positions if the rally goes further.

Since the interview was in India, he also talks about the Indian Stock market and that investors will a long time horizon (5 years and more) should invest in the Indian stock market, but that they should not expect 20% yearly return and that 5 to 8 percents per year would be more likely..

The last question was about currencies and he explained that the US dollar is probably better than the Euro at the current time, but that all paper currencies are not desirable before of negative interest rates and recommend to accumulate Gold as he could make the case that Gold is cheaper than when it was at 300 USD based on the increase in debt and monetary base.

If you want to invest in the Indian Stock market you could do so with iShares S&P India Nifty 50 Index (INDY) in the US among other or iShares BSE SENSEX India Index ETF (2836.HK) in Hong Kong

Marc Faber: Fire half of the US government including the president

Marc Faber discusses about the US government, China, commodities, emerging markets and his view on the gold price on CNBC on the 2nd of August 2011.

He says a China's slowdown is a more serious risk to the global economy than a slowdown or recession in the US as the US is no longer a major commodities buyer. His views on Gold is that is we compare the level of government debt in the 90s and now, they have increase by 10 times, but the price of gold has not increase that much during the period.