0 votes

BIG TIME economist on CNBC LIVE - says "Abolish the Fed"! This is GOOD!

This video was shown 'LIVE" on CNBC Europe. Jim Rogers, who is a world respected investor and economist, comes right out and says we need to "Abolish the Fed". Believe me, hearing this live ON CNBC was a SHOCKER!

He also has some other things to say that sound just like RP. This guy could be a big time voice for RP economics.

http://video.google.com/videoplay?docid=-6046520409389956642



Trending on the Web

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

Couple things.... 1. Jim

Couple things....

1. Jim Rogers is a "professional investor" not an economist. He also could be considered a CTA (commodity trading adviser).

2. He's been saying this stuff for years. Too bad nobody listens....

3. Lastly, this is quite old--he's got more recent videos that are always great for a good laugh--he really gives it to the MSM.

Yeah...

Jim Rogers for Secretary of the Treaasury!

Three cheers for Jim Rogers!

At 3 minutes, 10 seconds into the video:

Interviewer: I take issue with one statement you are making because the Fed's move isn't really adding any cash into the market, it's adding Treasuries, which has a very different effect. But I will ask you this: What would be the first two things you would do if you were in Mr. Bernanke's seat tomorrow morning?

Rogers: I would abolish the Fed and I would resign. Step one is abolish the Fed and step two is resign.

Three cheers for Jim Rogers! I want to abolish the Fed too.

However, Mr. Rogers did not directly address the point that "the Fed's move isn't really adding any cash into the market."

This is the principle point of my paper, Is the collapse of the dollar inevitable? www.axiomaticeconomics.com/golden_calf.php

The Fed's polluting their portfolio by buying crap does not cause inflation any more than buying T-Bills does; any purchase made with cash created out of thin air causes inflation. What buying crap does is make withdrawing cash from the economy more difficult in the event that inflation should ever threaten to become hyperinflation.

Causing inflation and setting up a situation in which hyperinflation is difficult to check are not the same thing. This is a rather fine point, but one which many economists (including, I suspect, Jim Rogers) overlook.

____________________________________

Shaka, you so crazy! www.axiomaticeconomics.com

Republicae's picture

The good thing is that

The good thing is that sooner or later, more and more people will come around to "our" way of thinking, circumstance will force many people to think much differently than they currently do in this country. You ain't seen nothing yet!

“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.

http://militantjeffersonian.com

"We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun

look

at the interviewers faces

they have no idea what he is saying.... no comprendo..

Great Article

How bail out is to help foreign bankers. US investors wiped out.

http://www.iht.com/articles/2008/09/07/business/fannie.php?p...

"Its easier to fool people than to convince them that they have been fooled."
Mark Twain

ahhh come on guys we need

ahhh come on guys we need George Soros! JZ NEFF WORSHIPS at his feet! he is the only one who is the know it all economist!

as for me and my home, we shall worship the LORD

please shut the f**k up

please shut the f**k up already with your antagonizing posts sierra. We all have different opinions and just because Jzneff isn't sucking golden sperm out of Jim Sinclair's felonious phallace doesn't mean you should take pot shots at him every chance you get. It's childish and will cause people to dislike you and your viewpoint even more. We want debate here. Not controlled, dictatorial views pushed on us by a small group of individuals that know how to do nothing more than copy/paste another person's thoughts on a daily basis.

Why isn't he?

Same with Martin Weiss, although he does mention him from time to time. Probably against policy.

Jim Rogers has been saying

Jim Rogers has been saying this for a long time. Not a new stance for him, but it's always nice to see him getting his opinion out there.

..................
"The main thing that I learned about conspiracy theory is that conspiracy theorists actually believe in a conspiracy because that is more comforting. The truth of the world is that it is chaotic..." —Alan Moore

ralphwaldo

I caught this interview live, when I use to watch CNBC/msm Thanks thou for the video.

I bet a lot of people where shocked when he said this AND

I bet he caught some major flack after the interview.

You don't know Jim Rogers

You don't know Jim Rogers very well. He's said the very same thing every interview with Maria Bartiromo I've ever seen.

..................
"The main thing that I learned about conspiracy theory is that conspiracy theorists actually believe in a conspiracy because that is more comforting. The truth of the world is that it is chaotic..." —Alan Moore

Republicae's picture

Jim is rich and hard-headed

Jim is rich and hard-headed enough to thumb his nose at any critics!

“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.

http://militantjeffersonian.com

"We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun

EDIT

Edit