The government is going broke... and to delay the inevitable, the Federal Reserve will likely start buying Treasuries. If the Federal Reserve steps in - which Marc Faber says is a certainty - it will add liquidity to the government bond market, keep yields low (allowing the government to continue funding worthless bailout projects), and eventually cause massive inflation.

"Yields have already backed up pretty substantially and I tell you, I think the US government bond market is a disaster waiting to happen for the simple reason that the requirements of the government to cover its fiscal deficit will be very, very high," says Faber.

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