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Politics, Astrophysics, Missing

Money & Finance > Rogers: Fed Has Given Up on the Dollar
 

Rogers: Fed Has Given Up on the Dollar

Rogers: Fed Has "Given Up" On The Dollar<

Paul Joseph Watson
Prison Planet
Wednesday, March 19, 2008



Expert investor Jim Rogers has slammed the Federal Reserve for destroying the dollar in order to rescue Wall Street, calling it "outrageous" that Ben Bernanke used $230 billion of taxpayers money to bail out Bear Stearns and other banks last week, and urged people to shift their assets completely out of dollars because the Fed had "given up" on the greenback.

"I find it outrageous that the Federal Reserve is just throwing the dollar out of the window - I happen to be an American citizen and they're signaling to the whole world that they have given up on the dollar," said Rogers during an appearance on Bloomberg, adding that everyone should "get out of the dollar because the Fed has given up."

Rogers himself shifted nearly all of his dollar assets into Chinese yuan in October 2007, citing the fact that it was "The official policy of the central bank and the U.S. to debase the currency."

Rogers dismissed rhetoric that the U.S. supported a strong dollar, asking the host, "do you even still report that?" adding that the best place to be was in real assets like gold and currencies like the Swiss Franc and the Chinese Renminbi.

Watch the video.



"I own gold, I own oil, I own all this stuff and I'm not selling it," said Rogers.

Rogers slammed Fed chairman Ben Bernanke for approving last week $230 billion in financial assistance to banks, including $30 billion to ailing investment bank Bear Stearns.

"I don't know where he gets the audacity to spend $230 billion dollars of our money to bail out a few friends on Wall Street, it's totally outrageous, who gave him the authority to do that? To destroy our dollar, to destroy our currency, to essentially destroy the American economy and nobody ever voted for the man - it's just mind-boggling to me," said Rogers, adding that Bear Stearns was bailed out so company executives could avoid declaring bankruptcy and keep billions of dollars in bonuses.



Rogers' aggressive condemnation of the Fed has heated in recent weeks. His latest comments follow an appearance on CNBC last Wednesday in which he called for the Federal Reserve to be abolished outright (watch above).

Rogers said that between them, the policies of Greenspan and Bernanke would cause the eventual failure of the central bank.


Prison Planet.com

posted on Mar 19, 2008 12:55 PM ()

Comments:

excellent video, sorry, took me a bit to check it, but I was coming...LOL
comment by ekyprogressive on Mar 24, 2008 9:18 PM ()
lol
comment by daremeonce on Mar 19, 2008 7:51 PM ()
It’s a good thing that I leaned humor and the sense to apply it years ago. I’ve become a fan of humor lol… Now I can be called things like, Victoria, Slicky, Vicky, and the like and come through with a great big smile… LOL, I’m currently working on becoming a man of Renown.

Anywho it’s been nice chatting with you Chester lol…..

Signed

Daremeonce

Post Grip: I did your digs…..
comment by daremeonce on Mar 19, 2008 7:06 PM ()
Ok Randy, I'm sort busy but I'll jump right on it lol.....
comment by daremeonce on Mar 19, 2008 5:23 PM ()
Yep...certainly seen that coming...
comment by strider333 on Mar 19, 2008 4:20 PM ()
this is so right on the money
So to speak and really pi ssed of on all of this.
comment by fredo on Mar 19, 2008 1:46 PM ()

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