The FED will do QE3 but not right away says Marc Faber

Marc Faber in an interview with Bloomberg today March 31 2011 : " For sure there will be QE3 but not right away , I think the FED believes that the economy is recovering and some sectors of the economy are actually doing quite well overseas we have strong growth in particular in emerging economies like here in Mexico the economy is doing very well at present time , so I think they will do QE3 , and my view is they will do QE3 , QE4 QE5 until QE26 until the whole system breaks down , and obviously the question is how fast they will do and to what extent the stock market has already expected this QE3 or the end of QE2 , as is QE2 is now fully discounted I do not think that the market will go up significantly , in fact I think that the FED would like to see stocks correcting somewhat ahd then have an excuse if stocks are down 20 percent that we need QE3 ..."

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