Marc Faber

Marc Faber: Japan's Bond-Buying Program is a Ponzi Scheme

Marc Faber, editor and publisher of "The Gloom, Boom & Doom Report", spoke with Bloomberg TV's Trish Regan today. He commented on Bill Gross' remarks about deflation and explained why he thinks Japan is engaged in a Ponzi Scheme. He also spoke on oil prices and the midterm elections.

Faber said that Japan is "engaged in a Ponzi scheme in the sense that all the government bonds that the Treasury issues are being bought by the Bank of Japan."

On oil prices, Faber said: "The oil price decline is not necessarily very good for the United States. It helps . . .

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