Jim Rogers: Let the Banks Fail!

02/11/09

"Mr Geithner's been bombing for 15 years. Mr Geithner caused this problem. Mr Geithner has been head of the New York Fed for several years - that was the office that was supposed to be supervising Wall Street and the banking system."

"He caused the problem."

"Then all last year he came up with TARP. He came up with all these absurd bailouts."

"The way you deal with this is you do what America told Japan to do in the 90's - you let them go bankrupt. You clean out the system. You wipe everybody out who's insolvent and then the solvent people take over and start over."

"You wanna know why they're making it worse? They want to support their friends on Wall Street and the bankers so they can all keep their Maseratis or their Ferraris or whatever they're driving."

"If doesn't do any good to take money from over here - that you either print, borrow, or tax - and put it over here. Of course the guys who get it, love that you're doing all that"

"Look at what's worked in history - South Korea, Russia, Mexico - they all took their pain. It was horrible pain for a year or two, but then they came out of it and every one of those countries became rapidly growing, fast, sound economies for several years."

"The countries that did it our way never came out of it until a long long time later if at ever"

Category:

News & Politics

Tags:

• banks
• Geithner
• stimulus
• bailouts
• jim-rogers
• economy

[venuecam]

Reporter: "There's no bad bank"

Did she seriously say that?

Reporter: "Devil's Advocate... (small) banks will fail"

Of course. Allowing the big banks to buy them up and monopolise more.

This is proof that TV reporters are chosen because of their lobotomised personalities not because they think for themselves.

[elprincipitooooo]

I will correct the man being interviewed and say that in the mid-90's, Mexico did not allow the banks to go under but rather socialized their immense debt, a la United States. There is no "rapidly growing, fast, sound" economy in Mexico, simply a heavily-indebted one.

[MrArjangJameh]

HAHAHAHA, buy gold and silver? We are all sooooo fuked you got no idea!

My solution:

1) Get rid of banks

2) Get rid of politics

3) Get RID OF MONEY!

*Resource Based Economy* Look it up Jacque Fresco Larry King interview

Please people. Our world is coming to the end

[x4changes]

18 months and most Americans are still asleep... buy food and silver ... call your congressman and senators fight bill S510 Monsanto ,,, stop the bailouts QE2...End the Fed

[dynomike1964]

The bankers have skimed the cream and left the sour milk for the taxpayers .

[thorn679]

There's a great video that explains alot of things. It also has a great bit of history. This is the link:

watch?v=D22TlYA8F2E

[Cstrife234]

Yeah, and Greenspan turned around and now he's dealin' with the devil.

[waterse]

Ignorant bitch

[tdrewman]

Bloomberg is a joke, they change stories titles as fast as the price change, if is positive it is one story, 10 mins later the prices drop 2 % and they have a brand new story to explain it, then it goes back up 3% and another story pops up.

[mpapile]

She has to give the opposing views because that gets jim fired up. It is no fun when he is agreeing with the interviewer. What she is saying is the prevailing view, I do not think she personally agrees unlike that idiot on cnbc.