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Experts: Fed’s QE Unlimited Will Lead to “Total Collapse”

posted Sep 20, 2013, 4:26 AM by Prep Experts
Americans to suffer through higher food, gas & energy prices 

By Paul Joseph Watson
September 19, 2013 

Financial experts have slammed the Federal Reserve’s decision to proceed with “QE unlimited” by refusing to taper its money printing madness, with famed investor Mark Faber predicting the move will lead to a “total collapse” of the economic system.

Despite expectations amongst many that the Fed would scale back its $85 billion a month bond purchase plan, the central bank announced yesterday that it would prolong the policy. 

Investment guru Mark Faber reacted by telling Bloomberg that the decision not to taper was all about protecting the financial interests of the elite while ordinary Americans will suffer the consequences through higher gas, food and energy prices. 

“My view was that they would taper by about $10 billion to $15 billion, but I’m not surprised that they don’t do it for the simple reason that I think we are in QE unlimited. The people at the Fed are professors, academics. They never worked a single life in the business of ordinary people. And they don’t understand that if you print money, it benefits basically a handful of people maybe–not even 5% of the population, 3% of the population,” he said. 

“And when you look today at the market action, OK, stocks are up 1%. Silver is up more than 6%, gold up more than 4%, copper 2.9%, crude oil 2.68%, and so forth. Crude oil, gasoline are things people need, ordinary people buy everyday. Thank you very much, the Fed boosts these items that people need to go to their work, to heat their homes, and so forth and at the same time, asset prices go up, but the majority of people do not own stocks. Only 11% of Americans own directly shares,” added Faber.