"I'd rather have the Europeans running the U.S. central bank than the people running the U.S. central bank, least they know how to try to build for the future," Rogers told CNBC Monday.
“In America, Bernanke just says we'll print more money, we'll spend more money, even though the United States is now the largest debtor nation in the history of the world."
Rogers reiterated that economies in trouble should be allowed to go under, like bad companies.
"The things that have worked in the past... will be you go bankrupt then you re-organize and you start over. You have a painful period for awhile, and then you start over. This has been done in the past 3 or 4 thousand years, and that's the way you do it," said Rogers.
"Trying to push the problem out to the future, and printing money, we just had another example here in the U.S., it didn't work and it's not going to work."
Rogers said that with central banks "flooding the world with money", the only place to invest right now is in real assets, whether it's in "silver, or rice or natural gas".
"Paper money is not going to do it for you," he added.
Lemme translate for you.
Who benefits if the US economy is forced to sell off real assets like failed, bankrupt businesses at fire-sale prices?
Who benefits if there's a rush from cash to commodities like "silver, or rice or natural gas"?
Who benefits if the major problem becomes a serious lack of liquidity and having the bulk of your real wealth tied up in, say, your mortgage?
Why, that would be the guys with heavy investments in commodities and lots of liquidity to spare because they are a billionaire investment guru, like, oh I dunno, this Jim Rogers fellow.
Just sayin'.
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8 comments:
Or it could be your closed minded view wont let you see any solution beyond anything the all mighty Paul Krugman says. Just sayin'.
Remember folks, I'm the closed-minded individual because Waffles disagrees with me.
Or it could be because you only reflect view points given by one man.
No it must be because I disagree with you.
Fail troll is fail
astonishing. and in your demented mind you win this exchange? yikes.
Well was I proven wrong? In dealing with facts and reality (something you should try to do more often) something either is true or false.
Pay attention
You know what's even more repulsive than an arrogant fat cat who wants even more money and doesn't care who gets trampled on his way to the additional loot? A fat cat of that description who thinks he's a sexy, rellious macho man.
Do the world a favor and do a James Dean, Jim.
how long did that take you? and even if it didn't take long, why on earth would you waste time doing it anyway? what a freaking loser you are.
of course, there's no libertarian economic guru whose every word is gold to you. why, that's just silly even though every single thing you have to say on economics can be found on the reason website!
you are truly insane.
How long did it take me? 20 seconds, if that?
1. Go to LMGTFY.com
2. Type in search
3. Click Go
Remove your head from the lib sites or where ever it may be stuck and you'll see that there is a whole other world out there on the interwebz.
No rebuttal still? Fail Harder Hypocrite
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