Is The Federal Reserve On The Way Out?
In an interview, Jim Rogers, CEO of Rogers Holdings, an investment guru, tells an investment newsletter that the Federal Reserve is <a href="intentionally'>http://www.agorafinancial.com/afrude/2008/04/16/bernanke-gets-an-ffrom-jim-rogers/">intentionally debasing the dollar</a>. This means they are printing money with abandon, increasing the money supply and inviting inflation. Historically, when other central banks have done this, the currency becomes worthless. If the currency fails, the Federal Reserve will be a failed institution. This is an inevitable result of a fiat currency and an economy driven by debt.
Watch this interview on CNBC where he elaborates on the problem.
<embed style="width:400px; height:326px;" id="VideoPlayback" type="application/x-shockwave-flash" src="http://video.google.com/googleplayer.swf?docId=-6046520409389956642&hl=en" flashvars=""> </embed>
Funny. They say you can use HTML when you post on the reader blog, but you can see how it turned out on my post. There is no way to go back and edit. There is also no way to preview it so that you can test the HTML to see if it is accepted. A few bugs need to be worked out.
April 16, 2008 10:01 PM | Reply | Permalink
To view the video, it is embeded in my blog at http://www.thetruthaboutcredit.com
April 16, 2008 10:02 PM | Reply | Permalink