"If you print money like in Zimbabwe... the purchasing power of money goes down, and the standards of living go down, and eventually, you have a civil war"
- Marc Faber
About this Quote
This quote by Marc Faber is referring to the effects of a government printing excessive cash. When a federal government prints excessive cash, it causes inflation, which is when the buying power of money decreases. This indicates that individuals can no longer buy as much with the very same amount of cash, and the expense of living goes up. This can lead to civil discontent, as people become significantly disappointed with their financial scenario. This is what took place in Zimbabwe, where the federal government printed too much cash, resulting in run-away inflation and eventually a civil war. This quote functions as an alerting to other governments to be mindful with their cash printing policies, as it can have severe consequences.
This quote is written / told by Marc Faber somewhere between February 28, 1946 and today. He/she was a famous Businessman from USA.
The author also have 1 other quotes.
"Given the choice, children who don't want for anything will not save... We have an obligation as parents to give our children what they need. What they want we can give them as a special gift, or they can save their money for it"