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Take immediate steps to protect your wealth . . . NOW!
Pss... why would I do that? I have very little wealth anyway…
Topic: Economist Caution: Prepare For 'Massive Wealth Destruction' - page 2. (Read 5148 times)
Pss... why would I do that? I have very little wealth anyway…
Good news for BTC, but sorry to see so much suffering ahead.
Is it really? Presumably if there's less wealth, then the value of each Bitcoin would be less as well.unless that less wealth transfer to bitcoin and it's scarcity takes the value upwards
That's a transfer of wealth, not a destruction of wealth.
Well the people holding US stocks/bonds or dollars may have their wealth destroyed. Completely separate from that, bitcoin could increase in price, which would create wealth with people that own bitcoins.
Good news for BTC, but sorry to see so much suffering ahead.
Is it really? Presumably if there's less wealth, then the value of each Bitcoin would be less as well.unless that less wealth transfer to bitcoin and it's scarcity takes the value upwards
That's a transfer of wealth, not a destruction of wealth.
Good news for BTC, but sorry to see so much suffering ahead.
Is it really? Presumably if there's less wealth, then the value of each Bitcoin would be less as well.unless that less wealth transfer to bitcoin and it's scarcity takes the value upwards
Good news for BTC, but sorry to see so much suffering ahead.
Is it really? Presumably if there's less wealth, then the value of each Bitcoin would be less as well.
They're just a bunch of alarmists trying to make money by selling their video. Salesmen. Look their chart comparing the DJIA with the stock graph just before the crash the Great Depression. If the DJIA is following the same pattern (as they claim), then it should have crashed by now, but it hasn't.
Saw Marc Faber talking on CNBC awhile back, I quite liked this guy, he's definitely not a neo-keynesian and very realistic.
For the record, he talked about how he was actually benefiting from all the money printing because of how much it caused his assets to rise but explained that it screwed over everybody else because it made everything more expensive.
http://www.youtube.com/watch?v=Mkq384oxH1w
For the record, he talked about how he was actually benefiting from all the money printing because of how much it caused his assets to rise but explained that it screwed over everybody else because it made everything more expensive.
http://www.youtube.com/watch?v=Mkq384oxH1w
Marc Faber is known as Doctor Doom. He is always mega-bearish. Sometimes he's right of course. But he is often a bit like a broken grammophone record saying that everything is going to hell. Finance TV shows love him as he's always available to make gloomy comments which generate catchy headlines and he looks and sounds like a James Bond villain.
I thought that was Roubini's title. I guess spouting off FUD in any sense gets your name in the paper. Some of what he says is valid but overall you're correct, he's prominent because he brings ratings.
Take immediate steps to protect your wealth . . . NOW!
...Marc Faber, the noted Swiss economist and investor, has voiced his concerns for the U.S. economy numerous times during recent media appearances, stating, “I think somewhere down the line we will have a massive wealth destruction. I would say that well-to-do people may lose up to 50 percent of their total wealth.”
When he was asked what sort of odds he put on a global recession happening, the economist famous for his ominous predictions quickly answered . . . “100 percent.”
http://www.moneynews.com/MKTNews/Massive-wealth-destruction-economy/2013/06/20/id/511043/
Good news for BTC, but sorry to see so much suffering ahead.
...Marc Faber, the noted Swiss economist and investor, has voiced his concerns for the U.S. economy numerous times during recent media appearances, stating, “I think somewhere down the line we will have a massive wealth destruction. I would say that well-to-do people may lose up to 50 percent of their total wealth.”
When he was asked what sort of odds he put on a global recession happening, the economist famous for his ominous predictions quickly answered . . . “100 percent.”
http://www.moneynews.com/MKTNews/Massive-wealth-destruction-economy/2013/06/20/id/511043/
Good news for BTC, but sorry to see so much suffering ahead.
that whole article is a sales pitch for aftershock (which moneynews and newsmax are famous for)
Regardless i don't deny we are in huge trouble, it will all come down, but i don't see the USD mega hyper inflating to 50% anytime soon. There are just way too many factors keeping this afloat and kicking the can down the road.
The 50% of wealth destruction is probably referring to a stock market correction in 2014-2015 which seems to be highly likely. Along with Massive housing bubbles crashing in some countries like CHina, India, Australia & Brazil
Bitcoin, Litecoin, Gold & Silver are all good investments right now.
I completely agree with bitcoin and litecoin being good investments. The cautions I would have with gold and silver are 3 fold.
1. Gold/Silver ETF's may actually be a "fractional reserve" situation with the people that claim to actually hold the gold and if this is ever proven to be true they will crash
2. Physical gold/silver is very hard to trade with. One would need to go back to carrying around satchels of gold dust for everyday purchases and gold bars of varying weight for larger purchases or transfer of funds
3. When you buy physical gold/silver you would have to go through rigorus testing to insure that it is actually made of the stated material. There have been a lot of fakes on the market recently that are doing an excellent job at density matching and plating the false material with the correct metal for surface testing....which would make the consumers have to break the bars in half and then test the cores of the gold/silver blocks in order to verify it is real....which is not practical for daily purposes nor long term storage of value imo
Marc Faber is known as Doctor Doom. He is always mega-bearish. Sometimes he's right of course. But he is often a bit like a broken grammophone record saying that everything is going to hell. Finance TV shows love him as he's always available to make gloomy comments which generate catchy headlines and he looks and sounds like a James Bond villain.
Take immediate steps to protect your wealth . . . NOW!
...Marc Faber, the noted Swiss economist and investor, has voiced his concerns for the U.S. economy numerous times during recent media appearances, stating, “I think somewhere down the line we will have a massive wealth destruction. I would say that well-to-do people may lose up to 50 percent of their total wealth.”
When he was asked what sort of odds he put on a global recession happening, the economist famous for his ominous predictions quickly answered . . . “100 percent.”
http://www.moneynews.com/MKTNews/Massive-wealth-destruction-economy/2013/06/20/id/511043/
Good news for BTC, but sorry to see so much suffering ahead.
...Marc Faber, the noted Swiss economist and investor, has voiced his concerns for the U.S. economy numerous times during recent media appearances, stating, “I think somewhere down the line we will have a massive wealth destruction. I would say that well-to-do people may lose up to 50 percent of their total wealth.”
When he was asked what sort of odds he put on a global recession happening, the economist famous for his ominous predictions quickly answered . . . “100 percent.”
http://www.moneynews.com/MKTNews/Massive-wealth-destruction-economy/2013/06/20/id/511043/
Good news for BTC, but sorry to see so much suffering ahead.
that whole article is a sales pitch for aftershock (which moneynews and newsmax are famous for)
Regardless i don't deny we are in huge trouble, it will all come down, but i don't see the USD mega hyper inflating to 50% anytime soon. There are just way too many factors keeping this afloat and kicking the can down the road.
The 50% of wealth destruction is probably referring to a stock market correction in 2014-2015 which seems to be highly likely. Along with Massive housing bubbles crashing in some countries like CHina, India, Australia & Brazil
Bitcoin, Litecoin, Gold & Silver are all good investments right now.
Take immediate steps to protect your wealth . . . NOW!
...Marc Faber, the noted Swiss economist and investor, has voiced his concerns for the U.S. economy numerous times during recent media appearances, stating, “I think somewhere down the line we will have a massive wealth destruction. I would say that well-to-do people may lose up to 50 percent of their total wealth.”
When he was asked what sort of odds he put on a global recession happening, the economist famous for his ominous predictions quickly answered . . . “100 percent.”
http://www.moneynews.com/MKTNews/Massive-wealth-destruction-economy/2013/06/20/id/511043/
Good news for BTC, but sorry to see so much suffering ahead.
...Marc Faber, the noted Swiss economist and investor, has voiced his concerns for the U.S. economy numerous times during recent media appearances, stating, “I think somewhere down the line we will have a massive wealth destruction. I would say that well-to-do people may lose up to 50 percent of their total wealth.”
When he was asked what sort of odds he put on a global recession happening, the economist famous for his ominous predictions quickly answered . . . “100 percent.”
http://www.moneynews.com/MKTNews/Massive-wealth-destruction-economy/2013/06/20/id/511043/
Good news for BTC, but sorry to see so much suffering ahead.
Supposedly he had a video interview where he discusses good financial investment alternatives, would you happen to know where I can find it? I've found interviews with him but not one that summarizes his aftershock investment book
In other words, don't think of it as "investing in bitcoin", rather think of it as "dumping US Dollars."
Take immediate steps to protect your wealth . . . NOW!
...Marc Faber, the noted Swiss economist and investor, has voiced his concerns for the U.S. economy numerous times during recent media appearances, stating, “I think somewhere down the line we will have a massive wealth destruction. I would say that well-to-do people may lose up to 50 percent of their total wealth.”
When he was asked what sort of odds he put on a global recession happening, the economist famous for his ominous predictions quickly answered . . . “100 percent.”
http://www.moneynews.com/MKTNews/Massive-wealth-destruction-economy/2013/06/20/id/511043/
Good news for BTC, but sorry to see so much suffering ahead.
...Marc Faber, the noted Swiss economist and investor, has voiced his concerns for the U.S. economy numerous times during recent media appearances, stating, “I think somewhere down the line we will have a massive wealth destruction. I would say that well-to-do people may lose up to 50 percent of their total wealth.”
When he was asked what sort of odds he put on a global recession happening, the economist famous for his ominous predictions quickly answered . . . “100 percent.”
http://www.moneynews.com/MKTNews/Massive-wealth-destruction-economy/2013/06/20/id/511043/
Good news for BTC, but sorry to see so much suffering ahead.
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