Tuesday, February 3, 2015

What is a Legitimate Government

“What is a legitimate government?” Today we have a government, basically in the Western world, that has more voters who receive something from the state then people that actually pay for it. And so I think that democracy is an untested system. We had, maybe, 7000 years of history of civilization, and democracy is precisely, roughly maximum 100 years old, maximum, because in many countries, full democracy was only introduced less than 100 years ago.

- Marc Faber via Sprott Money