Thread: Jim Rogers: “Abolish the Fed”

Somebody at CNBC, billed as “America’s business channel,” made a mistake. They allowed Jim Rogers, investor and buddy to George Soros, to get on and slam the Federal Reserve.
Not only slam the Fed, but call for it to be abolished.
Somebody at CNBC was asleep at the switch, or the kill button anyway. Because you never hear such talk over the corporate media, an entity owned by the same banking and financial interests that prop op the Fed and the funny money system.
“How much money does the Federal Reserve have?” Rogers asks. “I know they can run their printing presses forever, but that is not good for the world, inflation is not good for the world, a collapsing currency is not good for the world. It means worse recession in the end.”
Of course, recession — or, depending where you are situated in the funny money system, depression — will be a good deal for the bankers, as it will wipe the board clean and allow them to consolidate and at the same time destroy the once heralded middle class, a necessary task as our rulers move toward their plan to impose serfdom on the masses, or that is to say those who are not already serfs and peons, working for a dollar or two per day.
“I will ask you this,” one of CNBC’s talking heads asks Mr. Rogers, “what would be the first two things you would do if you were in Mr. Bernanke’s seat tomorrow morning?”
“I would abolish the Federal Reserve,” avers Rogers, “and I would resign,” a response that brings nervous laughter all around at the CNBC studios.

Video At link

Comment: oppsie LOL

Gold is $2 shy of breaking the $1000K/ounce mark right now. It's up over 50% in just 6 months. That should tell you how much damage the fed has done to our dollar in just that short time. Hell, gold was only $250/ounce when W took office. That's simply insane.

I've decided to stop fighting it. Recession is good for my business, I've said that before. Since no one seems to give a shit, I'm willing to put aside the ideological bullshit and look out for number one. Bring it on.

Originally Posted by Libre

Gold is $2 shy of breaking the $1000K/ounce mark right now. It's up over 50% in just 6 months. That should tell you how much damage the fed has done to our dollar in just that short time. Hell, gold was only $250/ounce when W took office. That's simply insane.

Yep, its not so much gold going up, but our dollar going down.

Originally Posted by Sparta

I've decided to stop fighting it. Recession is good for my business, I've said that before. Since no one seems to give a shit, I'm willing to put aside the ideological bullshit and look out for number one. Bring it on.

Well think the point is not so much Recession, but the purposeful destruction of our dollar. Remember they want us to take on the AMERO!

Originally Posted by Libre

Gold is $2 shy of breaking the $1000K/ounce mark right now. It's up over 50% in just 6 months. That should tell you how much damage the fed has done to our dollar in just that short time. Hell, gold was only $250/ounce when W took office. That's simply insane.

I think a lot of that price increase is due to speculation

Originally Posted by TenGig

I think a lot of that price increase is due to speculation

So, speculation has caused the price to quadruple in 8 years? That's not how it works. Gold was $250 an ounce when Bush took office, now it's $1K. 6 months ago it was $650.

Wake up!

This long increase isn't "speculation," it's dollar devaluation in it's purest form as gold holds the same relative value especially when compared to oil, which our dollar is also tied to (petrodollar):

Meh, whatever. My guess is that the price of gold will fall eventually. Buy some gold if you think it'll continue to grow. IMO, if you do buy, it'll just add to the speculation.

Originally Posted by TenGig

Meh, whatever. My guess is that the price of gold will fall eventually. Buy some gold if you think it'll continue to grow. IMO, if you do buy, it'll just add to the speculation.

I bought it when it was $632 an ounce. The current price is the product of dollar devaluation. I proved that plain as day! This isn't an "invest in gold now thread" that wasn't the point, but if black and white evidence can't sway you that our dollar has been massively devalued, nothing will.

It's really simple, WE'RE SCREWED!!