CNBC Anchors Freak Out After Marc Faber Says US Will Default

Started by CrackSmokeRepublican, February 11, 2010, 01:13:54 AM

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CrackSmokeRepublican

February 11, 2010, 01:13:54 AM
CNBC Anchors Freak Out After Marc Faber Says US Will Default
Joe Weisenthal | Feb. 10, 2010, 4:57 PM | 6,256 | comment 39


It's hard for Marc Faber to top himself, since he maintains such a cataclysmic outlook.

Still, in today's discussion about Greece and general sovereign risks, we were very entertained by the reaction of the Power Lunch crew when Faber delivered the bad news that the US will one day, just like the others, default on its debt. Listen right at the 2:15 mark.


http://www.businessinsider.com/cnbc-anc ... ult-2010-2


http://plus.cnbc.com/rssvideosearch/action/player/id/1409986641/code/cnbcplayershare
After the Revolution of 1905, the Czar had prudently prepared for further outbreaks by transferring some $400 million in cash to the New York banks, Chase, National City, Guaranty Trust, J.P.Morgan Co., and Hanover Trust. In 1914, these same banks bought the controlling number of shares in the newly organized Federal Reserve Bank of New York, paying for the stock with the Czar\'s sequestered funds. In November 1917,  Red Guards drove a truck to the Imperial Bank and removed the Romanoff gold and jewels. The gold was later shipped directly to Kuhn, Loeb Co. in New York.-- Curse of Canaan
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