Marc Faber: Let the crisis burn itself out – I Agree

September 23, 2008 by · Leave a Comment
Filed under: Economic News, Videos 

Marc Faber made a very astute observation about this current economic crisis. I believe letting the market takes its course and de-leverage to a reasonable level is the best thing we can do right now. The will also help reform the currency and bring the price level down to something more balanced with wages. We really do need to look at how we issue and manage our currency.

The boom bust cycle that comes with the fractional reserve banking system and adjustments in the interest rate to try and control the availability of credit is not very healthy for the country long term and tends to transfer real wealth to the people who get their hands on the new creation of money through credit expansion and then have the ability to make investments in the market that are almost a sure bet when you know that the increase in the monetary base is going to increase prices across the board.

Marc Faber: Let the crisis burn itself out

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