Marc Faber, Sovereign Debt: The Next Crisis

Investment analyst Marc Faber explains in short the implications of sovereign debt for economies and societies worldwide: http://bit.ly/jynblm

“Usually before countries default they’ll print money. Then you’ll have hyperinflation and that destroys essentially the middle class and the working class and benefits, say…I don’t want to pick on Goldman Sachs, but it benefits the financial wizards, the speculators because they can move money in and out of the country very quickly and make huge speculative gains like the FED recently did. Then society deteriorates and then in order to distract the attention of the ordinary people you go to war.”