Marc Faber

Over my career, somewhere, somehow I must've made some right calls. Otherwise, I wouldn't be in business.

The reason I am so negative about the Federal Reserve's policies is that they only target core inflation and argue that they can't identify bubbles, but when each bubble bursts, they flood the system with liquidity that brings about unintended consequences.

The entire political elite has mismanaged the Indian economy for the last 50 years. You cannot solve a crisis that is borne as a symptom of mismanagement in just five minutes or in a week. It will involve significant sacrifices and pain, and I doubt that in India there is the political will to face the music.

I'm an economist. I'm not a political servant.

If we have an economic crisis in the Western world it's because the government makes up 50 percent or more of the economy. This is a cancer that is taking away people's freedom.

Each money-printing exercise brings about unintended consequences. These unintended consequences are higher inflation rates than had no money been printed.

It's pointless to talk to Fed members about economics because they are academics who believe in money-printing. Some of them believe they didn't print enough, and so with these kinds of people, it is like running to the pope. What do you want to tell them?

The fallacy of monetary policy in the U.S. is to believe this money will go to the man on the street. It won't. It goes to the Mayfair economy of the well-to-do people and boosts asset prices of Warhols... Very happy. Very good for the Fed. Congratulations, Mr. Bernanke.

My worst investment decision so far is to lend money to friends. So far, it has all come to zero.

When it comes to money, the best investments were probably the ones I did not make.

When you print money, the money does not flow evenly into the economic system. It stays essentially in the financial service industry and among people that have access to these funds, mostly well-to-do people. It does not go to the worker.

Buy a $100 U.S. bond and frame it to teach your children about inflation by watching the U.S. bond value diminish to almost nothing over the next 20 years.