Sunday, August 7, 2011

Marc Faber on CNBC

The always cheery Marc Faber was on CNBC last week calling from a "sleazy" hotel in Zurich(!), and he saw a short-term bounce based on deeply oversold conditions, but he didn't see the market topping it's prior high.There will be QE3 followed by a rebound in October. He doesn't see March 2009 lows being hit on nominal terms (because of money printing).

Gold at its current level is not expensive compared to the expansion of the monetary base and the level of debts. He sees a money printing and war on the horizon followed by a "reboot"

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