Tracking Dr. Marc Faber of The Gloom Boom and Doom report , Marc Faber nicknamed Doctor Doom , a world class investor and a regular speaker at various investment seminars, Dr Marc Faber is well known for his "contrarian" investment approach.
Marc Faber : .....one way to control China is to control the oil in the Middle East. And if they control the oil in the Middle East, they can switch on the tab or close the tab to China. Because China, Japan, Taiwan, Laos, Korea, Hong Kong, they get ninety five percent of the oil from the Middle East. That is not the case for the US. The largest supplier of oil to the US is Canada and a large supplier is also Mexico and Venezuela and East Africa, Angola, Nigeria. The Chinese are a hundred percent on Middle Eastern oil. And the US and western powers, they will go and destabilize the Middle East and then try to control it. Well, obviously, they can only go this far because first of all, it will take a lot of money. They now, they are engaged in Libya, they’re engaged in Iraq, they’re engaged in Afghanistan. Next station, they have to be engaged in Pakistan, which is gradually shifting its alliance to China away from the US. Now, when the US went into World War II, debt to GDP was a hundred forty percent and they didn’t have unfunded liability for Medicare, Medicaid and Medicare. Now they have the unfunded liabilities and they have debt to GDP of three hundred seventy nine percent officially. But with the unfunded liability something like eight hundred percent. They’re not in a position to finance the war unless they print money. And so I think the geopolitical picture will eventually lead, in my opinion, to much higher inflation rates than what we’re seeing now.
And by the way, I think the inflation in the US is already much higher than what is being published by the media. And we know now about the media since Mr. Murdock is the largest media machinate. And since he, for sure, because I know some people who used to be in leading positions at News Corp in Asia -- he calls them every day. He checks everything that they do. He knew about the hacking in Britain for sure. And he sanctioned it.But this big business. Big business is dirty. But why is it dirty? Because it’s been made dirty by the government.
. - in Financial Sense News Hour
Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.