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Marc Faber: If I Were Bernanke, I Would Resign
CNBC ^ | 91412 | Shai Ahmed

Posted on 09/14/2012 10:08:45 AM PDT by Fred

Central bankers are “counterfeit money printers” and Federal Reserve Chairman Ben Bernanke should resign for messing up the U.S. economy so badly, Marc Faber, author of the Gloom, Doom and Boom, told CNBC on Friday.

He said Bernanke was one of the main proponents of an ultra-expansionist economic monetary policy that was to blame for the latest financial crisis.

“If I had messed up as badly as Bernanke I would for sure resign. The mandate of the Fed to boost asset prices and thereby create wealth is ludicrous — it doesn’t work that way. It’s a temporary boost followed by a crash,” Faber said.


TOPICS: Politics/Elections
KEYWORDS: bernanke; clinton; deflation; glasstegal; grahamn; greenspan; inflation; lugar; moneyprinters; obama; rubin

1 posted on 09/14/2012 10:08:47 AM PDT by Fred
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To: Fred
They are just following the orders of their world globalist handlers. The world banks and other thieves are making trillions of dollars off us through Obama.
2 posted on 09/14/2012 10:11:44 AM PDT by mountainlion (Live well for those that did not make it back.)
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To: Fred
"The mandate of the Fed to boost asset prices and thereby create wealth is ludicrous — it doesn’t work that way."

He's lying about the Fed's mandate. Here's the Fed's mandate...

12 USC Sec. 225a "The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall maintain long run growth of the monetary and credit aggregates commensurate with the economy's long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates."

Do we have an unemployment problem? Yes. Is the FED required to implement policies to address it? Yes.

But the FED can only do so much. Congress needs to reverse the trade policies and raise import tariffs and put a sensible energy policy in place that helps insulate us from oil price shocks.

3 posted on 09/14/2012 10:13:17 AM PDT by DannyTN
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To: Fred

I wonder if Marc Faber is related to the guy I remember watching on CNBC years ago named David Faber.


4 posted on 09/14/2012 10:13:29 AM PDT by Blue Highway
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To: Fred

I say raise the taxes on just Bernanke!


5 posted on 09/14/2012 10:13:47 AM PDT by Beowulf9
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To: mountainlion

QE3 this dummy is crasy in Obama’s term


6 posted on 09/14/2012 10:13:52 AM PDT by scooby321 (AMS)
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To: mountainlion

http://thebubblefilm.com/


7 posted on 09/14/2012 10:15:19 AM PDT by Fred (http://thebubblefilm.com/)
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To: mountainlion

Don’t worry they are working on QE4. You can just print money on your iPhone.


8 posted on 09/14/2012 10:16:48 AM PDT by sheana
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To: scooby321

“If we have an economic crisis in the Western world it’s because the government makes up 50 percent or more of the economy. This is a cancer that is taking away people’s freedom.”

— Marc Fabar, Published: Friday, 14 Sep 2012, 7:04 AM ET, CNBC


9 posted on 09/14/2012 10:20:09 AM PDT by qwertyz
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To: Fred

Ba ba but it’s Bernanke and the “Federal Reserve” making these decisions and that should make us tingly and warm and cozy.

What should make us angry is that they are creating asset bubbles again and inflation, redistributing the wealth of the nation to Wall St, and to other countries. They badly need audited, more transparency and reigned in because it would keep the heat on them to do minimal instead of maximal manipulation and damage.

Since Wall St owns both Parties and the Fed works on their behalf, I don’t see much happening except words while a Senate vote is stymied as part of a deal with Harry Reid.


10 posted on 09/14/2012 10:20:13 AM PDT by apoliticalone (Honest govt. that operates in the interest of US sovereignty and the people, not global $$$)
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To: Fred

Mitt needs to deep six Bernanke immediately after the inaugeration ceremony.


11 posted on 09/14/2012 10:20:48 AM PDT by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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To: sheana

Since they are buying everything one must wonder if they are buying back the IPO stock of those who bought Suckerbergs Facebook stock?


12 posted on 09/14/2012 10:24:22 AM PDT by apoliticalone (Honest govt. that operates in the interest of US sovereignty and the people, not global $$$)
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To: Fred

If Bernanke managed his own checkbook as he has the Fed’s, he would be bankrupt and/or in prison. He, like so many in high places, is unfit for his post.


13 posted on 09/14/2012 10:32:52 AM PDT by txrefugee
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To: Fred

Just proves there are puppet masters pulling obama’s strings. They want this country destroyed and they found someone to be president who agrees with them.


14 posted on 09/14/2012 10:40:23 AM PDT by Terry Mross
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To: Fred

Gov. Palin for Fed chmn!!!!


15 posted on 09/14/2012 10:41:57 AM PDT by Elsiejay
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To: Fred

QE3 is stimulating the stock market right now and making everything look hunky-dory, but have they thought what happens when the roller coaster starts back down the hill? This has the potential to cause a catastrophic drop in the market right before the election. What goes up must come down. Put some ice on it, Zero.


16 posted on 09/14/2012 10:54:52 AM PDT by ez (When you're a hammer, everything looks like a nail.)
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To: ez
This has the potential to cause a catastrophic drop in the market right before the election.

There's going to be a bad October crash. Only question is, which week will it occur? Will it be October 19th? (Just a wild guess, not a question of if, just when.) Things are going to get much worse.

17 posted on 09/14/2012 11:11:29 AM PDT by roadcat
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To: Elsiejay
Gov. Palin for Fed chmn!!!!

I'm a big Palin supprter, but she's more at home with Energy or pres.

I'm afraid she can be snowed on some of this stuff like she was on LOST (Law of the Sea Treaty).
18 posted on 09/14/2012 11:30:06 AM PDT by Dr. Sivana ("I have a new zest for life!"--Calvin from Las Vegas)
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To: Fred
Marc Faber: If I Were Bernanke, I Would Resign

If I was president I would have Bernanke strapped in leg irons and march him down the middle of Pennsylvania Avenue and off to prison.


19 posted on 09/14/2012 12:47:35 PM PDT by Iron Munro ("In any compromise between good and evil, it is only evil that can profit." - Ayn Rand)
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To: Fred


20 posted on 09/14/2012 12:50:02 PM PDT by Iron Munro ("In any compromise between good and evil, it is only evil that can profit." - Ayn Rand)
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To: Blue Highway

No, but I think he is related to Uria Faber.


21 posted on 09/14/2012 1:28:04 PM PDT by Texas Songwriter (<)
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