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Monday, September 5, 2011

Money as a store of value is no longer existent

Marc Faber : ...well I think everybody knows money has different functions one of them is obviously to facilitate the exchange of goods and services the other one is to be a store of value and the third one is a unit of account , and I think that with zero interest rates and cost on living increasing in the order of 5 to 10 percent for most families in the United States , Money as a store of value is no longer existent and that's what I mean with Honest and Dishonest Money , and if look at the monetary base how it's grown since the mid 1980s and especially if you look at M1 that recently has reached the growth rate that is the highest in 35 years then you will ask yourself what will ultimately the value of paper money be - in Bloomberg Radio Interview

Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

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