Thursday, December 10, 2009

Jim Rogers: The Fed Should Be Audited and... Abolished

Jim Rogers is on a roll with more public appearances lately than Roubini. Yahoo interview:

Everybody is audited, the church is audited, the Red Cross is audited...

"It's incomprehensible to me these people are saying they have no reason to be audited -- they must have done something wrong, must have something to hide."

"We don't need the Fed. The Fed is making our lives miserable," the famed financier says. "The Fed is printing huge amounts of money, which we'll have to pay for sometime. The Fed is borrowing gigantic amounts of money on their balance sheet...the numbers are so staggering that this is going to have ramifications before too much longer."

"The Fed is going to abolish itself," he predicts. "Between Bernanke and Greenspan they've made so many mistakes [that] within the next few years the Fed will disappear."

Watch video.

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1 comment:

Bad Credit Whiz said...

Very shocking news the american best investors abolished due their audit check.

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