Showing posts from September, 2012

Marc Faber: "The Monetary Policies of the United States Will Destroy the World"

Marc Faber, publisher of the Gloom, Boom & Doom report, talks on September 14, 2012, about Federal Reserve policy and his investment strategy. Faber, speaking with Betty Liu on Bloomberg Television's "In the Loop," also discusses gold prices and the property market. (Source: Bloomberg)

Selected Quotes:

"Even if Romeny wins the election, the next Fed chairman will be a money printer. And so it will go on. The Europeans will print money. The Chinese will print money. Everybody will print money and the purchasing power of paper money will go down. And I don't like bonds. I don't particularly like equities, but I think equities are a better space to be in than bonds.”


"I own corporate bonds. I bought some bonds from Kazakhstan because Kazakhstan economically is a much sounder country than the United States or any European country."


"The fallacy in the United States is to think that this will go to the man on the street. It won't. It…

Marc Faber: Bernanke Should Resign

Marc Faber is interviewed on CNBC at 5:30 am on September 14, 2012

Isaac: Dodd-Frank Is Killing Small Banks, Lending to Small Business, and Creating More Big Banks

Former FDIC Chairman Bill Isaac is interviewed on CNBC's Squawk Box September 12, 2012:

The following transcript has not been checked for accuracy.

all week long we've been looking at the future of the banking industry of another industry leader joining us now, bill isaac, a global head of financial institutions for fdi consulting and the former chairman of fdic. you didn't have to move to cincinnati to be chairman, did you? no, i didn't. it doesn't matter. you are anyway. they can say, you know who our chairman is? and they'll say bill isaac, and that gives them a lot of credit. have you been able to hear what mr. kovacevich has been saying today? i've heard some of it. do you guys agree? what do you agree on? and what do you disagree on with what he said? or is it shades of gray? oh, there i go. not fifty shades. how many shades of gray? we'll take any opportunity to take this right in the toilet. but -- what are you reading? no, i'm not. but i d…

Kovacevich: "If We Did Not Have Fannie and Freddie, This Crisis Would Never Have Occured"

Wells Fargo's ceo Dick Kovacevich talks about the causes of the financial crisis on CNBC's Squawk Box, September 12, 2012

The following transcript has not been checked for accuracy.

right now, though, more from our guest host today, dick kovacevich who is the former chairman and ceo of wells fargo. when we were talking a little bit ago, you were talking about how the financial crisis was caused, in your view, this was eight banks, 12 s & loans, citi, you could go back to those and go to the heads of those at that time. you think there were real problems happening. yeah, 11 and 12 s & ls, and one commercial bank, the rest were commercial banks. i think it was greed. they had to know that this stuff was not good. we went from -- there's always been subprime mortgages. we went from about 10% of the mortgage market to at the peak to 50% of the mortgage market being subprime lending. and this is no doc, low doc stated income, an open invitation for fraud. we know that …

Jim Rogers: Politicians' Green Light to ECB Sovereign Bond Purchases "Same Old Garbage"

Jim Rogers is interviewed on CNBC in London. Rogers dismisses recent developments in Europe where Germany's Chancellor Angela Merkel has agreed to some monetization of the debt via European Central Bank purchases of sovereign bonds from highly-indebted countries. This is not a game-changer and will make things worse because it will lead eventually to more debasement of the currency, high inflation and higher commodity costs. "These guys have been saying the same old garbage for a long time," he tells CNBC.