“The following crisis is likely to be in sovereign debt, because interest payments on government debts could reach between 35% and 50% of government revenue in 10 years. In my opinion it’s beyond repair. If the US were a corporation and had proper accounting, they would be "Triple C", nobody would buy their bonds.
Having said that, in the near term I think the dollar could rally because the others are no better, the others are worse. I think that the dollar will rally now against the euro and against the pound sterling and probably against the yen.”
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world. Dr. Doom also trades currencies and commodity futures like Gold and Oil.
