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.
"The central banks aren't interested in what works, they're interested in their own prestige. And they are so deep into it already and it didn't work. They will increase the medicine," said Faber, the publisher of The Gloom, Boom & Doom Report. "Eventually, they'll buy all the government bonds; they'll buy all the corporate bonds, all the shares outstanding. Afterwards the housing market goes down, they'll buy all the homes and then the government will own everything."