Legendary
investor Jim Rogers warned during a CNBC interview this morning that
global central banks are creating the environment for an inflationary
holocaust by their ceaseless overprinting of currency, a measure that
isn’t even successful in stabilizing the stock market.

Rogers
said that the only solution to the market crisis was to let failing
banks and speculators go bankrupt and stop pumping endless amounts of
liquidity into the system, labeling it outrageous that responsible
investors and taxpayers are being made to bail out crooks on Wall
Street.

“The way to solve this problem is to let people go
bankrupt,” Rogers stressed, “All of this pumping money into the system
is not going to save it - see what the market is saying, it’s saying we
don’t buy that, let people go bankrupt,” he added.

“Then you
will hit bottom and then you start over. The people who are sound will
take over the assets from the people who aren’t sound and we will start
over. This is the way the world has worked for a few thousand years,”
said Rogers.


Rogers
warned that the reliance on governments printing money would not aid a
recovery and would only lead to the problem becoming worse in the
future.
“We’re setting the stage for when we come out of this of a massive inflation holocaust,” he said.

Rogers said that excesses of credit and people becoming over-leveraged meant that they would now have to take some pain.

“Never
before in world history were people able to buy houses with no money
down, many people bought four or five houses with no money down and no
job and then they did it with cars and student loans and credit card
loans, you just think we say well that’s too bad we’re gonna start over
nobody loses his job….be realistic,” said Rogers.

Rogers said that the G7 leaders, who are meeting
this weekend, should “go down to the bar, have a beer and leave the
rest of us alone, let the people who are sound succeed and let the
other people fail.”

“What I’m afraid of is they’re gonna keep
doing what they’ve been doing - which the market hates, you can see the
market hates it - because this is going to unleash rampant inflation
around the world, rampant confusion in the currency markets and you’re
gonna have currencies gyrating all over the world,” said Rogers,
repeating that the central bankers were unleashing an “inflationary
holocaust”.

A CNBC expert then expressed his confusion at
Rogers’ argument that overprinting of currency caused hyper inflation,
seemingly displaying less grasp of basic economic cause and effect
principles than a 5-year-old would.

Rogers again made the point, “When you print gigantic amounts of money and you
flood the world with money, throughout history that has led to inflation.”

Watch the clip below.
https://www.prisonpl anet.com/ rogers-global- bankers-have- unleashed- inflationary- holocaust. html