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Markets could rebound after Thursday's global market sell-off, but investors should see any bounce as a selling opportunity, as the world economy rolls towards total collapse, Mark Faber, editor and publisher of the Boom, Doom and Gloom Report, told CNBC Friday....
"My view is that the market has experienced everywhere huge technical damage," Faber said. "As of today, all markets are extremely oversold, so a rebound is going to happen (Friday) or on Monday, but the damage technically is so great that the rebound, no matter whether QE3 happens right here, it's unlikely to lift markets above the May 2 high...
"You have a computer. Occasionally the computer will crash and you have to reboot it. That will happen to the global economy. Before this happens there will be much more money printing because basically the central banks are willing to do that," he said. "By printing money, problems are not solved, but they can be postponed, and they become larger....
"The next time we have a global economic crisis, it will be much worse than 2008. Before this happens there will be money printing and there will be war. The whole system will collapse," he said. "That's why I'm advising people that they have to think it through. In a total collapse you don't want to own government bonds and cash."
Originally posted by Vanishr
reply to post by JustBreathe11
If you would feel confortable having to trade your gold and silver for food then i would imagine so, but i think the best thing is 100% long lasting food, then guns and ammo for your own protection, if all the stores are out and you dont have the money to afford to buy anything they have anyway, its definetly best to relinquish yourself of your currency while you still can, before it literally becomes just paper.
Originally posted by TreadUpon
Precious metals will have value once commerce can move forward again. In the event of total collapse brass might be easier to trade.
I'm thinking little house on the prairie days when you had credit at your general store. In this case gold can be used on account. Without some amount of order though, gold could be too valuable to barter with...