Marc Faber - The Coming Pension Crisis And Its Subsequent Fallout
Returning SBTV guest Marc Faber, editor and publisher of "The Gloom, Boom & Doom Report", warns about the under-funding in public and private pensions. Will there be pitchforks when pensioners realize there is no money available for their retirement?
Discussed in this interview:01:31 State and public pensions are a disaster05:11 When pensioners realize their pensions are not there10:48 Western governments are bankrupt15:30 Government gold confiscation and expropriation is coming18:37 Jurisdictions safe to store gold and silver20:55 The longest economic expansion cycle in history is artificial24:09 Each incremental quantitative easing has lesser impact32:47 Buying his first bitcoin
Dr. Marc Faber was born in Zurich, Switzerland and obtained a PhD in Economics at the University of Zurich. Between 1970 and 1978, Dr. Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In 1990, he set up his own business, Marc Faber Limited which acts as an investment advisor and fund manager. Dr. Faber publishes a widely read monthly investment newsletter, "The Gloom Boom & Doom Report," which highlights unusual investment opportunities, and is the author of several books including Tomorrow's Gold: Asia's age of discovery