"$USD to zero"... won't be any time soon, but will weaken hugely... to the point of being [nearly] Monopoly Money. The WIPEOUT of the $USD could take 50 years. However, it could lose 75% of its current value quickly from here. That wouldn't make the $USD "worthless", but would be damaging enough to crush the retirement hopes of the Boomers, and more. Why? Because the US government is too ARROGANT, COWARDLY, SELF-SERVING, GREEDY AND STUPID TO DO ANYTHING ELSE.
I like Faber and think he is a sharp guy, but obviously, he gets a kick out of making these outrageous comments.
Dollar to zero :-} As much as I would like to see that, comments like these just add to uncertainty and fear which in return adds to volatility. Therefore I am advocate for such outlandish/ridiculous comments :}
Roubini, Schiff, Celente, Rogers, and Faber have become fame whores. At one point they made sense. Now they are talking out their asses with their future forecasts.
They have precedent on their side.. throughout history... whenever the dominant regime got too big for its britches and spent money they didn't have willy-nilly, it eventually lead to their destruction and disappearace. Same is likely to happen to the USA at the rate we're going. And Obama is likely to be remembered as "the man who destroyed America"... won't be 100% correct, but close enough.
The destruction began with the third rate actor Reagan. His ballooning of the military while cutting revenue collection meant he had to borrow from foreign nations. To borrow money, he had to make sure they had money, so he exported all the jobs. Not only did the third rate actor start the process of economic destruction, Reagan and Bush Sr. created OBL and the Taliban. OBL was a CIA operative funded by the CIA to fight the Russians. Reagan started the entire process of flooding the country with illegals with his amnesty programs and allowing family members to immigrate here. The power structure tried to get rid of Reagan and bring Bush Sr. into office to accelerate the process and failed. Then he lost on re-election and Clinton hood winked the power structure and actually set them back by balancing the budget and re-working welfare. Bush Jr. accelerated the destruction and Obama is putting the nails into the coffin. However the real problem is not the politician. It's the voter. The voter is too busy eating Twinkies and watching fag shows like dancing with stars to give a sh*t.
u and others probably said the same remarks years ago when they made their forecasts which became eventually. true.