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Faber: 'We are in a massive speculative bubble'
December 1, 2013 • 10:27AM

On Nov. 29, Black Friday, Marc Faber, editor and publisher of The Gloom, Boom & Doom Report, told CNBC he believes a "massive speculative bubble" has encroached on everything from stocks and bonds to bitcoin and farmland. He attributed the vast bubble to "symptoms of excess liquidity."

Faber said the markets, which have reached record highs, could still rise before the bubble bursts, if stimulus programs such as the Federal Reserve's massive monthly bond purchases and super-low interest rates continue. "Now can the market go up another 20% before it tumbles?" Faber said on "Squawk Box". "Yeah, it can go up even more, if you print money."

Faber said he thought a correction in equities was overdue when the S&P 500 index crossed 1,600 points. The benchmark index surpassed 1,808 points this week.

Faber also referred to the rapid rise of bitcoin, the digital currency that crossed $1,200 early Friday, as an area affected by excess liquidity.

"Farmland is up 10 times over the last 10 years," Faber said.

"And bitcoins are up now and who knows what next will go up."


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