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Faber: Brace for a Global 'Reboot' and a War

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posted on Aug, 5 2011 @ 09:19 AM
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Faber: Brace for a Global 'Reboot' and a War


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."


Not sure how people feel about Faber as a source of information regarding financial and economic news, but here he paints a very dire forecast on the global economy, of which many of ATSers share. Granted, he does publish a Boom, Doom and Gloom report so there may be a little bias in his commentaries and assessments. Still I thought this was interesting reading from CNBC given the tone and ominous outlook.




posted on Aug, 5 2011 @ 09:40 AM
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So in a total collapse, would owning gold/silver really matter? Or is it better to have guns and ammo? Or both?



posted on Aug, 5 2011 @ 09:45 AM
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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.



posted on Aug, 5 2011 @ 09:47 AM
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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...



posted on Aug, 5 2011 @ 10:54 AM
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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.


That is what I am afraid of. If my cash becomes paper. Back when the Soviet Union collapsed that is exactly what happened. One day people had 1 million rubles then the next day it was worth 10 rubles. I don't have a million dollars but still makes me worry. I tell people to convert as much of their paper currency into solid gold because at least this way the hit will be far less than if they hang on to their paper currency.

Thanks for the article surrealist. It was a very interesting read.
edit on 5-8-2011 by JustBreathe11 because: (no reason given)

edit on 5-8-2011 by JustBreathe11 because: (no reason given)



posted on Aug, 5 2011 @ 10:59 AM
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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...


I see it this way, if I have guns and ammo I can always take what I need when I needed
. I know its not right to think this way but in a total collapse I would do anything to feed my family and I am sure Im not the only person who will think like this.



posted on Aug, 5 2011 @ 11:38 AM
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In a total Market collapse, food will become the most valuable commodity. Gold and silver would only be of value to someone who had stores of food. Which is not going to be the majority.

I have a family too, and I have no plans to take food at gunpoint. Why? Because after 3 days, once all the supermarkets are emptied, it means then I would have to abandon my morals by stealing another persons food. Would I defend my food supply, yes, but I am hoping to have extra so that I can help another desperate family.



posted on Aug, 5 2011 @ 08:53 PM
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Guns n ammo for me, i plan to survive by eating people mostly so gold and silver are pretty worthless to me.



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