Trump-Endorser Marc Faber Warns 'Central Banks Will Create Global Socialism'ZeroHedge
Mar. 14, 2016
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Central banks around the globe are pursuing strategies that will put all financial assets into government hands, Marc Faber explains to CNBC this morning, taking the opportunity to endorse Donald Trump's bid for the U.S. presidency. As CNBC reports, Faber expects that asset buying by global central banks will only increase, even though he believes those policies aren't working to stimulate the economy.
"The central banks aren't interested in what works, they're interested in their own prestige. And they are so deep into it already and it didn't work. They will increase the medicine," said Faber, the publisher of The Gloom, Boom & Doom Report.That's the road to socialism, he ominously concludes.
"I could see a situation where at the end the government owns all the corporations and all the government bonds and then we are back into socialism, into a planning economy,"Faber also took the opportunity to say he wanted Trump to take the White House in the U.S. election later this year, although he noted he's not eligible to vote.
"They basically hate Trump because he's not the party insider," Faber said. "He brings some fresh air into the whole process."Faber explains...