Marc Faber: “I Can Already Smell QE3”

Marc Faber: “I Can Already Smell QE3”

On Thursday night (here in the US), while Asia was melting down once again, Bloomberg Asia got Marc Faber on the horn – at God knows what time for him in Zurich – to give his take on the current market meltdown.

Faber thought the markets were “extremely oversold”, expecting a potential snapback rally that could go 40-50 pts up on the S&P, though he thinks the highs for the year have been made.

Best part of his interview – one of my all-time favs from Faber – is towards the end, where he says he can “already smell QE3”, and that next few weeks will be important as we’ll see “whether Bernanke is a true money printer, or just an amateur money printer” – ha!

Full interview: Marc Faber tells Bloomberg markets are “extremely oversold”