Jim Rogers : Let the Fannie and Freddie go bancrupt

[davepamn]

Helping freddie mae makes the dollar more vulnerable and increases inflation. The fed takes on risky real estate assets.

[UltraDuperSuper]

These videos keep being unavailable.

[69vmac]

Great video. This is not a left or right issue. This is a BANKING & GOVERNMENT ELITES vs AMERICAN PEOPLE issue. Because of our debt-based monetary system, all public and private debts result in large interest profits for central and private banks. And, when banks or GSEs like Fannie/Freddie take too much risk, the politicians bail them out with taxpayer money. Check out "Why We Are In So Much Debt" on YouTube to see who profits from all our debt.

[tickyul]

The best idea is to DISMANTLE both Fannie and Freddie. The idea of both of these companies is to inject liquidity into the mortgage markets, by freeing banks capital which would otherwise be tied up in the loans if it were not for F&F buying. The problem is when F&F get burned, the government gets burned. Also, I am sure banks are a lot less careful doing their underwriting due to the fact that F&F are going to soon be taking the stinky paper off thier hands, Will F&F ever die, oink oink, never.

[Luigi84289]

It's like if you have to keep giving your buddy money because he can't manage it. Eventually you are going to run out of money to give him. What we are doing is far worse because the money they use for the bailouts comes from us. (inflation) People don't put 2 and 2 together. The reason prices go up is because the Federal Reserve is taking your money. They just do it in a sly sneeky way. Charging somebody consistently more and more for X is stealing. Inflation without an up in wages is stealing.

[rockandroller1318]

1 cover u mouth wit u hand

2 make a wish into it

3close ur hand[make it into a fist]

4 holdur hand[the fist] to ur heart for 5 sec

5 send diz to 3 more videos

6 tomorrow will be ur best day of ur life

[jrwripit]

So who in the hell made You Tube take this off line? Hmm....Can you smell that? This country is really starting to stink badly!

[crossbar6]

woot

[bvonmoss]

They don't like what he's saying, and are ready to scold him, but they keep inviting him back. How about Betty Liu? She's upset when he's praising China. That woman's boss is just pressuring this lady and Betty Liu. Looks just like Ron Paul at those debates exposing the industrial military complex business.

[dopeskies]

thats it im moving to south america

[basiclifej]

he is the only rich man that i really admire!!!

[Lingerfoot]

What about Marc Faber and Robert Kiyosaki?

[jengacrock]

Jim Rogers is right on target. We can't bail out the world! Whats so damn bad about bankruptcy? Let the banks go to Consumer Credit Counseling, work out some payment plans and let them get back on their feet. If the damn banks and mortgage companies would work out something with the customers instead of foreclosing...something is better than nothing...this will work it's way out to where everyone wins. But the bailout only helps the crooks.

[ytkingster]

And the "crooks" are the ones who make the rules. They are the judge, jury, and executioner and most shameful of all, they are your Government.

[Luigi84289]

yup the Federal Reserve owns it completely. That's why you can't win a presidential election unless you are their buddies and are a dem or rep. We have to tear it down.

[kraskata2012]

The dollar is dead. Bernanke is hyperinflationary idiot.

[KhmerD0g]

agreed. withdraw all your money. stock up canned foods, gun, ammo, water, gasoline, etc. for the next 3 years. we will have inflationary depression.

just today oct. 12, 2008 report came out that the Fed will print UNLIMITED amount of money to insure all financial institutions. damn. that will kill the dollar. the dollar will be worthless.

[killergames187]

Your 100% right!!

[JLKAJFLKDFKSDKJF]

i love rogers, he always gets mad at these cnbc cowards because they're smoke screening the biggest crime of the century. someday these ladies will realize their treason and hang themselves. rogers if you read this just call it like it is next time and say the fed and british royalty needs to be arrested, you're understating whats happening.

[mesler1]

Applied Austrian economics = win.

[dollarbear1]

here is what i think of the election

watch?v=9AvSQuqQb5c

[dollarbear1]

The USA is more communist than China. We here in China believe this.

[otherworldz]

i thought communism meant sharing resources amongst your population. all we americans seem to share is pollution and debt. if there is a profit made in america it's clung to desperately and counted in a closet in the middle of the night.

[dollarbear1]

That is an interesting reply. The truth is that that the word communism and capitalism are just words to control people. If communism=socialism then yes the US is more communist. USA incarcerates more of its own citizens, more welfare, and more govt. control. I am not on a political rant..most people here in China are pro socialism so good/bad is really according to your perception but the truth is the truth. I think the forms of govt. are nearly identical. I have been short USD for 4 years.

[otherworldz]

yes. socialism seems to work best when the administration is by/among a fairly homogonous population. that way all segments of society identify with each other and exploitation of "others" is reduced. i'm not sure that us prisons are in any way social, since they don't rehabilitate, but rather facilitate worse anti-social behaviour. as far as i can tell the wealthy in the usa are colluding with bureaucracy to destroy the middle class, or rather, have become the bureacracy (gwb) for control.

[KLguy133]

Yes indeed communism and capitalism are just words to control people and CCP and USA are run by the same bunch of grubby scum bankers.

[andreaus8669]

it's funny how he tells them the truth and the reporters keep trying to convince him that the dollar is up and everybody is going to be ok

[madcatzy]

I love this guy! cold hard truth

[Pacmaniacone]

fuck the federal reserve we work this country with our hard-working jobs only to pay them? To help them buy more shit that only hurts us and makes them richer? we are slaves!

[pasatio]

God I hate these testosterone pumped wall street media BITCHES.....go home, have some kids and make them some cookies you immasculinated bitches, haha!

[elizasibanda]

this is all leading to the amero, its clear as day light when you understand that a one world currency is in on its way, the dollars been screwed since the 60s really

[bnfox]

I love seeing media super models duking it out with an educated economist...really inspired...

[rosewood223]

the reporter is a fucker.

[OctoBox]

LOL

[rosewood223]

wait a minute buddy,

there is some line which u dont cross...

this lady is not fit to be the reporter. She being a reporter is the end of United States.

[OctoCuba]

hey bucko -- *making hand gesture* this line right here *making hand gesture* this line right here is "THE LINE" you cross if you want to enter the dangerzone -- *making hand gesture* "THIS LINE"

MY "LOL" was meant in agreement with you - by-the-by.

Octobox

[bmwstox]

To the US taxpayer! SPREAD YOUR CHEEKS! Secretary Paulson should be thrown in jail. Let's reward the criminals by giving them $200 billion and we'll also cover the $5 TRILLION that Fannie & Freddie owe! The American public should be outraged. Only Senator Jim Bunning of KY had the guts to tell it like it is. This is a joke.

[garyowen4ever]

fannie and freddie chief executives should be in prison for life.

[marco114]

and anyone in the government who approved this.

[HrNb]

I bet Chaves is laughing so hard Bush can hear him all the way to Washington..

[OctoCuba]

Chavez needs a colonoscopy -- a high colonic using the Patriot Act sprinkled with Castros wiskers as a pipe cleaner!

Chavez, Bush, Iranian Prez, the Actor they used to fake Sadams hanging, Osama bin Laden, McCain, and Obomba are brothers in Neoconservatism (NWO).

Trotsky was a Lenin Communist and Kristol was one of his most famous students. Kristol was the founder of the Neoconservative movement!

[jman1863]

Can you say "AMERO?" This is the beginning of the end of the U.S. dollar in my humble opinion. As we all sit around waiting like sheep into the slaughter house we are going to get screwed over by the all powerful Federal Reserve and the Central Bank. Let us all say goodbye to our country as we know it today. Our only hope is to band together and get our asses off of our couches and let these elitist bankers know that "WE" are not going down without a fight!

[CurtHowland]

Exactly. The "Amero" will be presented as the answer as the dollar melts down, exactly the way the "new" Mark was presented to replace the devalued Deuch Mark in 1933.

What none of the pundants and government apologists will say, of course, is that replacing one fiat currency with another fiat currency doesn't solve anything.

[drunkenboxer1985]

What the fuck is going on? This country is goin further and further down the drain. The value of the dollar has already gone down 98% since we instituted the federal reserve and dropped the gold standard. Were fucked

[bfurness80]

these people are stealing our future, the media, the dollar, the troops.

damn zionists.

[mczerone]

"The Dollar is a terribly flawed currency."

[Hawks9718]

He called it again! News today says Fed expected to nationalize Fannie and Freddie this week.  WAKE UP PEOPLE! We are being FUCKED on a level unprecedented in human history.

[jb2134]

I love Jim's interviews, but some of what he says becomes eerie, almost as if you know what's going to happen in 3 years..

"But let me tell you how it's going to work out. It's going to mean the debt of the United States is going to be downgraded over the next few years. It means that US government bonds are now going to become suspect down the line."

Scary and precident from a guy that's called commodities, the dollar, collapse in financials, etc.

[rawismore]

You Americans need to take matters into hand.

You have a few non-selected monsters running you like cattle. Not that EU is much better ;)

[Utka9]

agree with keithg1! We need more Jim Rogers these days. Thks for posting this.

[keithg1]

Honest Jim. not a lying bone in his body.

God bless him. Also, he takes very complicated market forces and distills it into simple terms and concepts. Bravo.

[bennyman5]

if fannie and freddie go down, the ripple effects will be extremely detrimental to the entire economy

[gizmosells]

Fannie and Freddie needs left to fail this is not fair to taxpayer. Predator Captalism 101 both parties Republicans and Democarts are guilty here. The only reason they bailing out Cruddy Mac is to prevent a financial meltdown but when the economy recovers Freddie and Fannie needs to be abolished.

[dan020350]

Jim . come back to the states and save us/

[COUNTCARDULAR]

the amero will not help if there is anyone, there after rfid chips as cashless society.. with 500 million ideal world population.. looking 5 yeas into the future could be a bit optimistic if we are not careful adn dont act soon.

[garyowen4ever]

if you are new to JR, his comments on fannie and freddie here and elswhere say it all, he gives you his credo and gospel on the whole debacle of USA wealth class welfare and its ramifciations on mainstreet. i have listened to him for 9 years and he calls em like he sees em, believe it or dont.

[alichoturko]

privatized profit, socialized loss. What a scam the US econ is.

[mikwid]

Amen to that!

[dyersev]

i second that

[Redskin350]

hes smart listen to this man ^_^

[Civsuccess2]

Please make those rich people get out of their house!!!

[russwhiskey]

youve been printin a few DOLLARS for a long time now.

[mgilbo1]

I love how she quickly cuts in after Jim calls for Fannie execs to go to jail. Jims fired up today.

[xavster]

HI HI, we are fed reserve, we take all your dollars and half their value cuz we ultra capitalizticism kthxbye!!

[Yourdeadmeat69]

Fannie & Freddie have 1/2 US's mortgage paper. US and foreign investor confidence must be preserved even if some losers, who don't deserve bailout, are saved with the system. The good of the many outweighs the few losers that might skate.

It will take 18 months to work through bad paper, and housing sale gluts that fill the marketplace. For many, what you have to sell, will sink in proportion to where you're buying, so it's all moot. Those foreclosed, will work thru the system in 18 mos.

[rseveran]

You've got it exactly backwards.

The few are being bailed out at the expense of the many. This is not capitalism. This is socialism.

Sounds like the Fed has trained you well.

[TastyBananaFatch]

Good comment... what many don't understand is that the government doesn't have much of an alternative when it comes to bailing out these companies. They are far too important to be allowed to fail. The main reason being confidence in our stock markets.  If confidence is lost, then the repercussions could be 10X worse because NO-ONE will have confidence in the U.S. stock market, and EVERYONE will pull out their money. Trust me, we don't want to go there. That would be a truly massive disaster.

[doford]

We're making it worse by moving the debt around. All the government has done is move the debt to tax payers. This means inflation or tax will go up causing a huge loss on sales. Business will go under and and the people will still loss there jobs.

They're moving the problem from bankers to the people. You and I are paying for banks poor investments. Why?

[WhackAWingnut]

Everything you say is true, but take into consideration the counter-factual -- if we didn't bail out these institutions, the repercussions would be much worse. Like you, I am not happy in the least about the bailout. But we must consider what will happen if we didn't bail out these institutions -- meltdown of our economy which would would make the 1929 depression seem like a cakewalk.

[doford]

You're living in a fantasy world. At some point we are going to have to pay the debt. The longer we wait the worse it will be so we have to stop or mass reduce the cause, which is the selling of debt.

The 2nd problem is the banks are too big, if one goes under alot of problems occure. What we can do is split the banks up so if one goes bust it doesn't hurt the economy to much.

Bailing out the banks doesn't solve the problem, it reduces the economy and allows banks to continue creating debt

[WhackAWingnut]

Yes, but you aren't addressing the problem immediately. What do you propose be done today versus a year down the road? Do you let the entire infrastructure collapse? Listen, I am not living in a fantasy world. I have studied economics and political science at a university that has been rated in the top 10 world-wide.  I have firm history, facts and statistics that back up what I am saying. So I ask again, what do you propose we do today versus one year from now?

[doford]

We shouldn't do anything. Let the rubbish banks collapse. Trying to bail them out will only add to the debt. We're in a no win situation. Bailing them out will only make it worse. This is a no win, win situation.

Can you explain to me how moving the debt to tax payers will make anything better?

You are simply moving the problem onto someone else, not solving it.

[WhackAWingnut]

The short-term debt incurred is far cheaper than facing the collapse of a major stock-market sector. We're talking a several TRILLION dollar disaster without the bailout. Anyone who advocates for the collapse of a major American market sector as some sort of solution, or "payback" to the Wall St. fat-cats is short-sighted and demonstrates a misunderstanding of national economies and their histories. The taxpayers are going to pay no matter what -- the question is, less now or more later?

[doford]

How am i been short sited? By pushing the debt onto the tax payer we are allowing a failing system (selling of debt) to continue. The longer we move the debt onto other people the larger the debt will become, therefore the longer we wait the worse it will be.

I know you think you are solving the problem but you are only making it worse.

I would prefer a huge collapse of the market now than a gigantic collapse in 5 years time.

[WhackAWingnut]

I have posted several links but this site is not displaying my messages. Let me just say this... go to the N Y T imes and read how many economists, including highly accredited faculty from top universities, are advocating this bailout. This forum limits response lengths, so it is difficult to offer support for my arguments. Maybe this article will enlighten you some. You aren't totally wrong, but you aren't as right as you think. Peace. Out.

[WhackAWingnut]

By the way, one excellent objective article is written by Peter S. Goodman. Look for, "A Bailout Plan, but Will It Work?" This article explains much of what I am trying to say. It is located in the business section of the N Y T imes under analysis, on their web site.

[doford]

I read the article but the writer doesn't seem to mention anything about the problem of trying to sustain economic growth by increasing debt.

We need to go into a reccession / depression to sort out the debt. Confidence in the market will go sooner or later and all this would have been pointless. They should just increase interest rates and pay the debt off. If not the investors will continue mal-investment and things will get worse.

[WhackAWingnut]

doford, here's where you are misunderstanding me. I have only been addressing what to do in the immediate; that is, pour cash into the market for the sake of preventing a stock market collapse. You went from that issue to long terms solutions. I never said a word about the long term other than it would be worse to wait -- which is supported by the referenced article. One more thing, Jim Rogers has shorted many of these companies; he speaks with a biased tongue. Remember that, ok? Peace.

[doford]

Well that's the problem with socialism. It's always changing the little things while destroying the big picture.

Sure Jim rogers is biased, he believes free markets are better for people. He isn't just saying this because hes shorted. He's believed in this kind of thing for a long time.

[cubachang]

it will be alot worse when these bailouts collapse the dollar completely..

[itillbeme]

These reporters are clueless.

[nitsu19]

Good video. Jim Rogers Makes good sense.

[alritedarlin]

I like this guy and what he says

[garyowen4ever]

LOVE THE JIM ROGERS,,,,,,,,,his leaving the usa should tell you to be aware.

[CoconutsandBananas]

freddie and fannie people should be treated exactly how the enron folks were treated.... they should be in jail.

[charliemctruth]

Pity the clip ended just as he was about mention Lehman Bros....etc.

[joel1923]

The UK government is one of the governments that usually lie...

[rodneykingman]

Rogers; "The dollar is a TERRIBLY flawed currency Carol..."

[rodneykingman]

I love it; Interviewer: "You don't think we're getting to the end of This Mess?"

Long, long pause...

Rogers (while cracking up hysterically inside) "Well...."

[rodneykingman]

Jim Rogers IS da Man.

[georgedonnelly]

WOW, I love Jim Rogers!

[cherokkee1]

Way to go Jimmy boy!!

[thetimman00]

This guy is spot on. How dare our government try to spend its way out, to our demise. Smaller government, more individual liberty. Markets work by themselves so stop f*ckin' with 'em.

[piratesport]

Jim Rogers for President!

[LeeKwangEng]

Thats why Singapore predicting that more will immigrate to Singapore in these 2 years.

Currently we have 4.5 million population, in short coming years to be increased to 6 millions.

Something major going to happen and Singapore Government knows about it.

[stalcottsmith]

Move to Singapore... now that sounds intriguing... If I had a child, I'd say go west... WAAAAAY West!

[LeeKwangEng]

I am not suggesting you do so. Singapore is a place for the Rich, and the Filty Rich, as for the middle income group, we are dying species in Singapore, never able to expeect any increment in pay, yet expect to get mor work load, and deal with inflation at the same time. If you are rich, Government welcome you.

[jb2134]

I wish Jim would buy a TV channel and get people educated about their money and about the economy.

Get these shills and flakes off the air.

[cybersphere]

I noticed bloomberg got rid of this video pretty fast. More evidence that this man upsets the establishment, so is probably telling the truth ;-)

[TheLastVenom]

Agreed 100 percent...he was on CNBC today and

they tried to do a hit job on him and he

he shut them up right quick with facts.

These guys the comedy team of bernanke and paulson are out of their damn minds taking

5 trillion in debt off Freddie and Fannie.

A rank injustice to the Citizens of this

country.

[daanman2]

friend, you clearly don't know what you are talking about, the government has not assisted freddy or fannie in anyway yet.

[LeeKwangEng]

get updated dude!

[blx2000]

Everyone is selling us out: the media, the president, congress. They are all just helping out their buddies and that's about it. The media should be savaging Bernake and Paulson! This may be the beginning of the end of our economy right here.

[stafferoony]

Americans are all watching their reality shows and don't know what the hell is going on, pathetic

[nibelungensohn]

How ironic that it seems the purpose of reality shows is to divert people's attention from reality.

[VVi11]

heh. Good point. and they're not all that real anyways.

[cybersphere]

Yup, the Aussie dollar is about to overtake the US Dollar. The US dollar is going down in flames due to the inflationary tactics of the Fed.

[panayiotis55]

Rogers and Faber are the only who are saying the truth about the American economy.

Most people in wall street are desperate to save their jobs and would say anything to succeed. Rogers understands Capital markets 100 times more than Bernanke does

[bigceez4]

Don't forget about Peter Schiff.

[Rustyshackleford08]

Peter is Awesome, I only buy commodities. The dollars are WORTHLESS and its getting worst. I don't see paper being worthwhile again in my life and I am only 31.

[dadada75]

who's peter?

[Rustyshackleford08]

Peter Schiff

[dadada75]

thanks

[mrzack888]

Shaddup Jim Rogers, you're safely snug in Singaporn, and you sold all your dollars, don't pretend to be concerned. What you feign to be still part of America? You left. please...whueva!!

[SwobyJ]

If you could get out of it, wouldn't you? :S

[amsd1231]

lol you obviously have no idea how the law is set up in the US. Even if you have most of your assests outside of the country and are making profits, you still have to report them to the government and pay taxes on them. What he is trying to say is it will ultimately be the average Americans, like him, who are gonna have to pay for this cosmic debt.

[mrzack888]

no, once you paid taxes to the foreign govt (which is lower than the U.S.) you don't have to pay US taxes as long as you don't bring the profits back to the US. YOU have no idea how the law is set up fool.

[amsd1231]

"A U.S. citizen or resident alien is generally subject to U.S. tax on total worldwide income" FOOL! Which means all the earnings u made overseas are counted and calculated to be taxed on top of being taxed from the foreign govt(which is mostly refundable). PLZ, if you have never paid income taxed then STFU and go ask more money from your mommy.

[JackNeedles]

Good to see that there are a few good voices who stand up for the people these days. Jim is great.

[VirginianRebel]

Jim Rogers is my hero.

[quinnipiac32]

i know. i think he's hilarious.

thanks man.

[slopyjalopi]

This guy should get his own tv show. Bernanke and Paulson should be tried for treason.

[quinnipiac32]

the full video is 15.35 minutes in length. Is there any way you can post the rest of the media? btw what software did you use to get this file? I have Orbit but it will not download.

Thanks.

[peacespeech]

SDP downloader is the best software to download mms stream. I could post rest of interview but this part is the best, when JR is really, really pis*ed off..

[dbztiki]

Thanks for posting. When did this interview air?

[peacespeech]

yesterday (2008.07.14)