Central banks around the globe are pursuing strategies that will put all financial assets into government hands, perma-bear Marc Faber, told CNBC’s Squawk Box. He also took the opportunity to endorse Donald Trump’s bid for the U.S. presidency.
Faber said central bank policies are essentially monetizing debt, particularly in Japan, where he claims the Bank of Japan (BOJ) is buying all the government bonds the treasury is issuing.
He expects that asset buying by global central banks will only increase, even though he believes those policies aren’t working to stimulate the economy.
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