Jim Rogers: ‘Madman’ Bernanke Leading U.S. To Disaster

Posted In: Crash Prophets, Dollar, Economy, Federal Reserve, Interest Rates, Stocks

On Monday, Bloomberg caught up with legendary commodities investor Jim Rogers in London. Bloomberg’s Sal Giangrasso interviewed George Soros’ former partner, who told listeners that the September interest rate cut was “a mistake” which the Federal Reserve might repeat again on Wednesday. Rogers claims that the Fed does not care about the U.S. dollar and want it to decline. He also notes that despite their actions, long-term interest rates aren’t going down. As a result, Rogers says:

This is a disaster for the United States. I would urge everybody listening to your show to figure out ways to start getting money out of the U.S. dollar. I’m certainly doing it.

The chairman of Beeland Interests also had this to say about Federal Reserve chair Ben Bernanke:

I know that the mandate of the Federal Reserve was to maintain a sound currency. We now have a madman at the head of the Federal Reserve whose main goal, whose whole intellectual career is studying the printing of money. Now America has given him the printing presses and he is running them as fast as he can.

What are we going to do, Sal, when we have real problems in the economy? What are we going to do when the stock market is down 36% instead of down 6%? He’s going to be running those presses until we run out of trees.

Your can access the Bloomberg interview here.

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