Saturday, March 22, 2008

More scathing critique of the FED

This is Marc Faber, funds manager and author of the Boom Gloom & Doom Report in a recent interview. Concerning the FED and specifically its current chairman his criticism couldn't be more devastating:

"Had I been the professor who would have judged his thesis for his Phd I would not have let him pass. I would have told him actually, Mr Bernanke, I give you one condition under which i let you pass, and this is that you never join a central bank, because you are a destroyer of money's store of value function... The only central bank that I would allow you to go to is the one under Mr Mugabe in Simbabwe... Mr Bernanke with his monetary policies, he will destroy the dollar."

Here is the full interview:

-- Johannes

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