Economic Holocaust. Jim Rogers Explains. Oct. 10

Oct. 10, 2008.
Markets do not trust the governments' plans to keep struggling banks alive and investors will only calm down when the companies with bad assets are allowed to go bankrupt, legendary investor Jim Rogers, CEO of Rogers Holdings, told CNBC on Friday.

"The way to solve this problem is to let people go bankrupt," Rogers said.

"Then you will hit bottom and then you start over. The people who are sound will take over the assets from the people who aren't sound and we will start over. This is the way the world has worked for a few thousand years."

The current rescue plans, which will force governments to issue more debt, print money and flood the markets with liquidity, will flare up inflation after the crisis is over and will create worse problems, Rogers warned.

"We're setting the stage for when we come out of this of a massive inflation holocaust," he said.

Source:
http://www.cnbc.com/id/27097823

Category:

News & Politics

Tags:

• U.S
• BANKRUPT.
• Economic
• Holocaust-
• Jim
• Rogers
• Explains.
• Oct.
• 10
• 2008.
• Inflation
• Dollar
• Ron
• Paul
• McAlvany
• Federal
• Reserve
• Gold
• Silver
• Commodities
• Money
• Investment
• Invest
• precious
• metals

[scwallac]

Great video, but your title is misleading.

[jakoxn]

thought it over a bit, and you are right. edited.

[simplewhimsy]

Rogers has this look on his face: "WHY do I KEEP agreeing to do interviews with IDIOTS?!"

[ksihlangu]

I love how calm and collected Jim Rogers has to deal with these so called pundits who confidently speak lies

[Ricksmooth1947]

This Jim Rogers prick said with total assurance that the year 2009 would be a TOTAL YEAR OF DECLINE!!!!!

Isn't he embarrassed by making a comment when equity grew more in 2009 than almost any other year?????

[00587649]

Jeff is a very stupid person,totally off-base. From the way he speaks,you can understand.

[johan404]

Well, he has children so I think he's used to it.

[johan404]

I think they should be arrested, tried in court, hopefully executed and their property auctioned.

[nathands]

They are cock sure of themselves as they spew lies. Could you imagine being that much of an asshole, as to speak with such an air of confidence when you are uncertain of what you speak. It astounds me how many people have the balls do this. I don't even speak that confidently when I DO know what I am talking about! This is exactly what is wrong with things right now. An air of confidence is more respected than true knowledge.

[dave777blaster]

The American people have no power America is owned by the Throne

the fed bleeds them and the IRS makes sure they get the blood money out of Americans.

Americans are like 12 year old kids when it comes to understanding USA and it's place in the world and that is because of the

propaganda they have had to endure.

[votethirdpartynow]

the American people need to kick these guys out and take back their country - these CEOs should not be allowed to control a Kiosk in a mall. All the houses lost should be aquired by the state - rented fairly to Americans who after 5 years apply 1/2 of what they have paid towards a down payment with a 30 year fixed rate at 8%. A fair avaerage standard applies to the equaity of the home with sales locked into the future. IF situation's change accomendate. You only get what you put into it.

[tmv77]

Jim knows it.