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Jim Rogers - Market Should Replace Central Banks

Jim Rogers - Bloomberg, 1/25/10

Jim Rogers says that the world would be better off without central banks and that the market should replace central banks.


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Thanks for sharing!

Thanks, this is very interesting


Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.

SteveMT's picture

Jim Rogers also said today that stocks are due for a correction.

Jim Rogers: global stock markets are due a correction
Global stock markets are in line for a "correction", according to the investor Jim Rogers, as governments around the world move closer to withdrawing stimulus packages
8:50AM GMT 25 Jan 2010

Mr Rogers, who co-founded the Quantum Hedge Fund with George Soros, told Bloomberg that "we're overdue for a correction. Stock markets around the world have been going up for the past 10 months."

Stock markets have rallied thanks to the scale of the stimulus measures unleashed by governments. The MSCI World Index - a measure of world stock markets - has jumped 67pc from the lows it reached in March.

Stock markets are also beginning to anticipate higher interest rates, according to Mr Rogers. “I don’t think anybody has tightened enough. I think everybody should tighten more,” he told Bloomberg.

“We have huge amounts of money printed throughout the world. It’s going to cause currency instability. It’s going to cause more inflation. It’s going to cause higher interest rates.”



I am getting sick of the false dichotomy offered by Fed apologists who imply the only option aside from vast Fed power and secrecy is to put the printing press in the hands of congress.

How about neither?


Freedom - Peace - Prosperity

Sick of the false dichotomy? Tell Ron Paul.

Stephen Zarlenga writes:

Infrastructure repair would provide quality employment throughout the nation. There is a pretense that government must either borrow or tax to get the money for such projects. But it is a well enough known, that the government can directly create the money needed and spend it into circulation for such projects, without inflationary results.

First, incorporate the Federal Reserve System into the U.S. Treasury.

Second, halt the banks privilege to create money by ending the fractional reserve system.

Third, spend new money into circulation on infrastructure, including education and healthcare.

Richard C. Cook writes:

I worked with Steve [Zarlenga] on his first draft of the American Monetary Act. The time came when Steve and I began to meet with Congressman Dennis Kucinich, briefing him and others in Washington on monetary ideas.

So much has happened since then. So many more people have become aware of the evils of the debt-based monetary system. We have seen Congressman Ron Paul ignite a national wave of revulsion against the Federal Reserve System. There is now even hope that the American Monetary Act might be introduced on the floor of Congress.

Ron Paul writes:

While a gold standard would be a wonderful thing, we shouldn’t wait for one before we end the Fed… An end to the money-creating power and a transfer of remaining oversight authority from the Fed to the Treasury would be marvelous steps in the right direction.

So we see that Ron Paul’s proposal is essentially the same as that of Stephen Zarlenga and his man in Congress, Dennis Kucinich. Like Paul, Zarlenga also believes that a gold standard is a wonderful thing, provided that it does not have to actually be implemented. Since Paul has no concrete plans for implementing a gold standard, he and Zarlenga are united in their desire to incorporate the Federal Reserve System into the U.S. Treasury as quickly as possible.


Shaka, you so crazy! www.axiomaticeconomics.com