Jim Rogers: Bailout will create inflationary holocaust
Writing by abuhatem on Saturday, 11 of October , 2008 at 1:37 pm
Commodities investor and free marketeer Jim Rogers, who has been calling for the abolition of the Fed for a long time and said a few months ago that “America is more communist than China,” condemned American “socialism for the rich” and supported Ron Paul for president, minced no words talking to CNBC on the bailout:
We’re setting the stage for when we come out of this of a massive inflation holocaust. The way to solve this problem is to let people go bankrupt 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.
Here’s the video:
Also, here is Jim Rogers attacking the Fannie Mae and Freddie Mac bailout two months ago:Category: American Politics
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