Dr. Marc Faber joins Bernie Lo on CNBC Aprill 22, 2010 to discuss the coming “doom.”
As you know, I’m ultra bearish about the world. I think we’re all doomed because the governments are taking over and they will all bankrupt us and expropriate us, but it may not happen tomorrow. So, they’ll give us something to play with until the whole system breaks down and that is a bull market – they’ll just print money and more money.
…
I think before we all are doomed, the markets can go much much higher because of the stimulus that the government has brought about. The stimulus packages that would eventually bankrupt the sovereign states.
…
The market, if you print money like in Zimbabwe, can go up very substantially, but the purchasing power of money goes down and the standards of living go down. And, eventually you have either civil war, and by the way, in the US the mood has turned very very negative among certain groups of society.
[Bernie Lo interrupts and Faber doesn’t finish his second point]
We can only guess what scenario, other than civil war, may occur as an end result.
But remember, the situation Doc Faber is describing here is the end result of massive debt, which is essentially sovereign default or currency collapse.
Thus, one possible outcome could be a situation as described in James Rawles book Patriots in which the United States experiences a hyper-inflationary currency collapse, leading to a complete grid-down situation – the cities burn, millions die from starvation and violence, and only those who prepared in advance have any chance of survival.
Another outcome, along the lines of the civil war scenario, is discussed in John Galt’s free online e-book The Day the Dollar Died, in which the government, on the brink of societal collapse, declares martial law within the United States and implements a new form of government and currency system.
We’d recommend both books as a primer on currency collapse scenarios.
Marc Faber on CNBC April 22, 2010 (Part 1 of 2):
Marc Faber on CNBC April 22, 2010 (Part 2 of 2):
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The whole Civil War talk has been very Jungian like lately, I think the universe is trying to tell us something. As I stated on another recent article discussion here, you all should read “Civil War II” by Thomas Chittum. I have thought a civil war was possible in the near future for a few years now, after reading this book over the last few days, I am convinced it is our destiny.
and Mac, you have to also read, then recommend “The Modern Survival Manual: Surviving the Economic Collapse” by Fernando Aguirre.   He lived thru the 2001 crash of Argentina, the info is invaluable as it is realistic, what really happened and what worked to survive a currency collapse. Its the dose of reality that can be missing from the worse case scenario books like “Patriots” (although loaded with great info for a TEOTWAWKI situation.
http://www.amazon.com/Modern-Survival-Manual-Surviving-Economic/dp/9870563457/ref=sr_1_1?ie=UTF8&s=books&qid=1272137967&sr=1-1-spell
Willie, thanks for the recos. I will definitely be ordering Aguirre’s book shortly, and I might as well throw Chittum’s book in the cart as well.
You won’t regret it. Chittums book is so “scary” its like reading a nightmare that is in the process of happening now, problem is there is no relief from waking up.
Faber is no fool and does not play the politics for anyone. He could give a damn what the media or the political hacks in D.C. think of him.  Good man.Â
He is right, civil war in the United States is inevitable and being hastened by actions of the U.S. government and the Federal Reserve.   My neighbors and co-workers are furious with the government. People I know who voted for Obama even think he’s a liar now.   I know of kids that grew up in our neighborhood who are now U.S. soldiers and have stated they will resist the government and support the citizens if civil war comes.  This is heartening. We need the military on the side of the U.S. Constitution, and fighting those political forces that seek to undermine and destroy our U.S. Constitution.  You traitors know who you are, and so do we.Â
The patriot movement is growing and it’s my guess the U.S. government will try to regain support of the citizens by way of a false flag event on U.S. soil. Â
Obama likes to think he can discredit the patriot movements -or- use his rhetoric to decieve the masses but the average citizen is on to his game and not buying his articulate B.S. He’s in trouble and he knows it and on the go forward will increase government efforts to undermine those who would expose the anti-Constitutional activities that he is undertaking.         Â
I read Chittums book,even though it got some racial cogitations, it is telling the truth of the future of America when we have a debt collapse. Cities with population over 300,000 will be war zones. This civil war is not government vs patriotic constitutional militas with military  . It will be a multi ethical mess. The elites will divide America. This war will be the paramilitary forces of the govt with some elements of the military vs the military along good patriotic militias who are heavily equipped vs radical militias(Black panther party,KKK,Aryan brotherhood,Chicano Neo Marxist militias)vs heavily armed gangs vs drug cartels vs biker gangs vs neighbor hood militias. This will be a mess of epic proportions. America would become a warlord state and never recover from a endless bloody war like this. This civil war will be multi factional and we could even be balkanized into different nations,warlord states.
Dr. Doom covers himself in case the market continues to move higher, but if it were to crash on Monday, he would say “See, I told you so!”
Comments…..MA. Your assessment of the situation is very accurate, when economic collapse takes place and the government falls, the army also falls apart and is dispersed into all the different groups that you mentioned. Civil wars usually bring with them famine , disease, combined with natural disasters that are already happening on a regular basis. These kind of wars are by far the worst kind, you never know who the enemy is , and when you’re going to die.
I was 10 years old when war broke out, fortunately we lived in a small village, the first thing that goes is the grid, no more water and electricity, lucky for us there was a natural water spring where we would take small jugs to fill by hand and carry home, this was a full time job for me and my older brother. I remember people would fight, and there would be shoving and pushing in the line ups, there was no problems with food  because most people grew their own and were still very primitive that way. Big city dwellers suffered the most.
I guess what I’m trying to say is the more you’re life depends in technology, the more you will suffer.
In a small village we all knew each other, people remained somewhat civil, but the big cities it was an all out battle, it started with two main religious factions and spread like wildfire to all the different groups , the army fell apart, the soldiers joined all the different militia, the government collapsed and the local currency went to shit. I guess you  could say in time of peace big cities are peaceful prisons, when war starts they turn into a cement jungle, with the worst kind of animal.
Once these wars start they take a long time to finish, the survival rate is low, and recovery takes a while , and the scars remain for ever.Preparing to become self sufficient and moving away from big populated cities is the only hope.Â
Comments…..Was this even broadcast in the US?
Me thinks not.
I mean, come on, CNBC Asia.
America was born in blood. America suckled on blood. America gorged on blood and grew
into a giant, and America will drown in blood.
into a giant, and America will drown in blood.
There are too much division in America. It doesnt matter where you live there will be violence. In the south there is movement of Neo Chicano Marxist militias that will battle the good patriotic militias,white supremacist militas and black gangs. When the collapse comes America will dissolve into chaos. America has not faced violence against its borders or in its borders since the Civil war. Every power that we know it today faced violence internally the past 110 yrs(China, France,Germany,Korea,Russia, Israel,Spain,Mexico,Great Britain,Pakistan,India,Iran,Italy,Eastern Europe,much of South America  and many more). We have had no external invasion nor internal chaos. And the day is coming we will have the latter. America is a bomb waiting to explode. When you have so much distrust between races,against govt,and anger then you add all the races and factions have guns you have a multi etnical tribal civil war. The geography of our nation will make it perfect for an endless civil war. prepare for the worst hope for the best. It will get very ugly.
Mardochee…I also thought  at first I had mistakenly bought a white supremicist propaganda rag. A few times in the beginning pages (and again a few more times throughout) he makes observations that could be taken as having subtle, velvety “white supremacy” undertones, but he never comes out and says he is a proponent of such an ideology. The soldier holding the confderate flag on the cover was also a little suspect.  I kept reading though and came to the conclusion (maybe naively) he is not part of said movement.
If you read thoroughly, he in fact makes a number of contrary comments such as the last paragraph of the book (paraphrased as I do not remember word for word) ” I do not want America to be a nation where races are fighting each other, neighbor fighting neighbor, I want peace amongst all”. He then went on to say “People should be judged by their character, not the color of their skin”
He also said things like “blacks should be aware of and not be manipulated by the racist rhetoric as that is an elitists tool of control.Â
He also rebukes David Duke, the KKK, and a few other hot button issues considered white racism.
These could be CYA comments to hide his true affiliation but I think (my opinion) he was just being honest throughout the book (in his opinion) that if races are too culturally different, a multicultural nation cannot continue forever in peace. Those revelations can be misconstrued as “racist” coming from a white man in this all too sensitive PC culutre we are mired in.
The progressives preach diversity but when it is embraced by whites i.e. preserving their European heritage/culture (not a discussion in this book) or when a white man envisions racially segregated nations via civil war, etc, they are labeled racist.Â
For me, this is one of those books you will remember forever as in hindsight, this book was very prophetic. Lets hope the ultimate premise does not become reality.
Comments…..Hope doesn’t get you any where the reality is the future already happened, man must prepare for it’s outcome, if man’s design conflicts with the will of God, disaster in imminent.
Better start building your boat, you can’t stop the flood of disaster you can only get ready for it. The problem with America today is all the vices that took down previous generations, they are all concentrated into one era of time and one place.
“the cities burn, millions die from starvation and violence, and only those who prepared in advance have any chance of survival.”
Does anybody honestly want to be those people who survive? Â Watch the movie “The Road”. Â I would rather be dead then be alive in that type of situation.
And Henry I agree 100%. Â All these doom and gloom forecasters are full of it. Â I am still waiting for Gerald Celente’s ‘Christmas Crash’. Â You’ll hear him always bringing up past things he got right but I bet you’ll never hear anything about the Christmas Crash again. Â If you do it’ll be full of excuses. Â Like I said before even a broken clock is right twice a day.
Bruno:Â Don’t forget about the “Boobquake” thats coming! You don’t want to miss that! 🙂
the only time we will have a civil war is if they ban guns. Otherwise well will just have civil unrest.
as the economy morphes new things will come out of it. Stay at home “dads” will become a norm. one car families. Back to basics.
people will start to contract spending, default on credit cards to preserve what they have.
if they ban guns and collapse the dollar…civil war is certain.
When? Where? LOL
Bruno: “Google” Boobquake. I’m guessing 5/24. 🙂
the idiots this site gets sometimes…The Road was an imaginary worse case scenario with a chance of likelihood at about.05%.  Real life SHTF scenarios do occur and YES, unless you are a complete douche, you would probably want to live through it as things always get better.
ok genius. i didn’t write this:
“the United States experiences a hyper-inflationary currency collapse, leading to a complete grid-down situation – the cities burn, millions die from starvation and violence, and only those who prepared in advance have any chance of survival.”
What does that sound like to you? cities burn. millions die. doesn’t sound that much different than The Road to me. Again, why don’t you, the genius, explain what type of scenario that quote is talking about?
We had eight years of Bush and Cheney, but now you get mad!
You didn’t get mad when the Supreme Court stopped a legal recount and appointed a President.
You didn’t get mad when Cheney allowed Energy company officials to dictate energy policy.
You didn’t get mad when a covert CIA operative got their cover blown for the political/financial gain of the military/industrial complex.
You didn’t get mad when the Patriot Act got passed..and you got to keep your gun but still lost your rights anyway…
You didn’t get mad when we illegally invaded a country that posed no threat to us. You didn’t get mad when we spent over 600 billion(and counting) on said illegal war.
You didn’t get mad when over 10 billion dollars just disappeared in Iraq.
You didn’t get mad when you found out we were torturing people.
You didn’t get mad when the government was illegally wiretapping Americans.
You didn’t get mad when we didn’t catch Bin Laden.
You didn’t get mad when you saw the horrible conditions at Walter Reed.
You didn’t get mad when we let a major US city drown.
You didn’t get mad when we gave a 900 billion tax break to the rich.
You didn’t get mad when, using reconciliation; a trillion dollars of our tax dollars were redirected to insurance companies for Medicare Advantage which cost over 20 percent more for basically the same services that Medicare provides.
You didn’t get mad when the deficit hit the trillion dollar mark, and our debt hit the thirteen trillion dollar mark.
You finally got mad when the government decided that people in America deserved the right to see a doctor if they are sick.
Yes, illegal wars, lies, corruption, torture, stealing your tax dollars to make the rich richer, are all okay with you, but helping other Americans… oh hell no.
AND NOW YOU’RE MAD
Bush yes was a bad president,and probably the worst ever. He bailed out the banksters and passed the Patriot Act which took away our rights. However Obama is doing the same thing. He is still using the Patriot Act,he is still continuing the illegal wars. He is spending like a drunken sailor. We will have 19 trillion debt by the time Obama’s first term is over. Also healthcare will become an unfunded liability very soon. Both parties have bankrupt America,and we will have nothing. Left wing right wing same bird. Obama is a liar like Bush,and a bankster puppet like Bush.
The “Rawles” depiction is a worst case Civil War”/societal collapse scenario.
“The Road” is a fantastical end of the world, humans are the only source of food scenario, if you can’t discern possible from fantasy then I can’t help you.
Rawles always admits he does not think it will get as bad as he wrote in the book. IT WAS FICTION, just like The Road.
Bruno:
You won’t have to wait ’til Christmas.Â
Broaden your news sources.Â
And try to be civil.Â
Arrr.
Check out the “Cardinal Climax” by Arch Crawford.