If they don't agree by the 17th, I think what can happen is that the Fed will actually finance the Treasury independently so the interest payments are being met. Because if the interest payments are not met, I think it will cause quite a big disruption to the financial markets. So I'm not so concerned about that.
Marc Faber Thinks the Fed Will Finance Treasury Interest Payments Independently if Congress Doesn't Raise the Debt Ceiling By October 17 (Video)
10/14/2013 03:41:00 PM | via @Dvolatility |
Here are Marc Faber's views on the debt ceiling and threat of default on October 17, 2013 (Bloomberg video after the jump). He also talked about gold, the S&P, Treasuries, inflation and the lack of safe haven assets.
Posted by D Volatility