Happy Days Are Not Here Again: Legendary Investor Jim Rogers’s Straight Talk about the Fed

For several decades, Jim Rogers, currently chairman of Beeland Interests, has been one of Wall Street’s most astute investors. When he has something to say, I certainly pay attention. Tuesday, just before the Fed’s rate cut, Rogers gave an extraordinary 20 minute interview on Bloomberg News in which he was contemptuous of Fed policy. Although I would not necessarily follow his investment advice, the interview is a must view.

Rogers argues that the Fed policy of both rapidly increasing the money supply and lowering interest rates will have disastrous consequences for the future of the dollar. Why, Rogers asks, should the Fed come to the aid of hedge funds and Wall Street bankers? He calls the Fed’s bailout policy outrageous and warns that the U.S. economy will pay the price for this folly.

Rogers points out that for years the hedge fund managers and Wall Street bankers were making astronomical salaries and proclaiming themselves geniuses. Why, Rogers asks, should they not now bear the consequences of their investment folly?

Rogers pulls no punches; and if you are concerned about America’s future, you will want to budget 20 minutes of your time to watch this interview by clicking here.

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