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Author Topic: Existing dollars called in and replaced with new currency?  (Read 1595 times)

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Existing dollars called in and replaced with new currency?
« on: February 27, 2012, 03:11:06 PM »
Quote from: Julie Crawshaw
When capitalism collapses, there will be currency reform, Faber says, in which existing dollars are called in and government will issue a new currency.

“The dollar has already lost 95 percent of its value since the inception of the Federal Reserve [in 1913],” he says.

Economist Marc Faber says the Western standard of living won't recover, let alone rise.

“Government debt is rising everywhere,” Faber tells Yahoo Finance. “We have stimulus packages, we have central banks that will print money (because) there is no other option to keep the system going,” he said.

“The stimulus today is a fiscal deficit of around $2 trillion. It will go up, in my opinion.”

Faber is convinced there will “an economic Armageddon.”

“That is a high confidence prediction,” he says. “The total collapse will come.”

One day, says Faber, people will notice that their standards of living won’t rise, and then, to divert attention, governments will go to war.

“We have already two wars,” says Faber. “And Afghanistan is a barrel without a bottom.” 


http://www.moneynews.com/StreetTalk/Faber-Living-Economic-Armageddon/2012/02/24/id/430483

The mark of the beast is getting closer.  :o
« Last Edit: February 27, 2012, 04:19:12 PM by me again »
"So then, stand firm and hold to the traditions :o which you were taught by us, either by word of mouth or by letter" (2 Thessalonians 2:15).

 

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