Marc Faber: Why Not Restrict the Fed’s Risk Taking

January 24, 2010

In response to President Obama’s latest bully pulpit attack on the Wall Street Banking giants, Marc Faber suggests that we may want to look at restricting the risk taking by the Federal Reserve.

He says the fed is “a highly leveraged organization, they take huge positions and they take speculative positions and manipulate markets”.

Asked where did it go wrong for the Federal Reserve. His answer” The Fiat Currency…

Gloom & Doom Marc Faber Illuminates at Mises

Tagged as: CNBC Squawk Box, federal reserve money, fiat currency, Marc Faber

CrisisMaven
The unbelievable truth is, as Faber describes, the Fed is the greatest speculator of all, but the least regulated ... and has no risk, as it prints the money whose currency etc. risk others have at least to consider while speculating.
What’s wrong with Economics?
Joe Robertson
Yeah... Faber properly framed the reality of the situation. And your comment makes me think of that Garfield quote: "He who controls the money supply of a nation controls the nation."
CrisisMaven
no more fat cats soon? ;-)