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IPFS News Link • Federal Reserve

Jim Rogers: Federal Reserve is Making the Depression Worse

“What would be the first two things you would do if you were in Mr Ben Bernanke’s seat?” Jim Rogers: “I would Abolish the Federal Reserve and Resign.”

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Comment by Anonymous
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     This guy Jim Rogers is still talking nonsense since he started life as a peanut-bottle selling scavenger and became a Wall Street millionaire. His rants are full of inconsistencies. In this video [], his delirium annoys me. He is an embarrassment to the Austrian school of economics.

       America is too good for him and he lived a life of royalty in this country, and yet he said that it is not smart for anyone to live in America so he moved to Singapore.

       He said if he is Bernanke, he would abolish the Federal Reserve and resign. Bernanke is chairman of the Fed, and he could not abolish the Fed even if he wanted to. That’s the problem when bike riders like Rogers leave this country of milk and honey and park their motorcycles for life in a country of pepper, salt and vinegar a.k.a. Singapore where primitive justice is served by public flogging. Having been so far away for so long now, they thought that the U.S. Congress, the only constitutional authority that can abolish the Fed, is now named Bernanke!

      Bernanke is despicable for subsidizing 27-29 year-old young rich spoiled brats of Wall Streets that ride their expensive sports cars everyday at least in Rogers’ eyes, but at that age, he also owned and was driving a flashy "yellow Mercedes Benz" of the young rich and famous. Has Alzheimer caught up that bad that he could no longer remember?

     This guy Rogers also wished the United States has no Central Bank. At the same time, listen to how he praised to high heavens the central banks of Australia and China among others, for their excellent role in combating recession.

      He blamed inflation for America’s recession. That is not Austrian economics that is taught in school. That’s bullcrap. In a recession, just enough amount of inflation is required to pump up the economy. We haven’t a killer inflation since Adams. What inflation is he talking about?

       That’s not the way Libertarians should criticize Bernanke and the Fed. This foolish way of attack only proves that disgruntled Libertarians are nitwits the public shouldn’t listen to.

       What is he – a libertarian mole?


Comment by Lucky Red
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 No shit!  And not that they helped create it either or anything like that

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