Jim Rogers

Posted | 23/04/2014 / Views | 2242
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A recent quote from legendary investor Jim Rogers.


"There is no sound currency anymore. There is no paper money in 2014 and 2015 that is going to be worth much of anything.

For the first time in recorded history, we have all major banks and central governments around the world printing huge amounts of money.

This has never happened in world history. So the world is floating on an artificial ocean, of lots and lots of printed money. The debt is going higher and higher.

The money printing is going higher and higher. We have had 50 or 60 years of success in America. You have got to pay the price someday whether you like it or not.

The longer you delay the day of reckoning, the worse the day of reckoning is going to be. This is not going to be fun. Abolish the Federal Reserve.

The world has gotten along quite famously and well without central banks for most of world history. America has had three central banks in our history, the first two disappeared.

This one is going to disappear too because they keep taking on huge amounts of debt. They keep leveraging up the balance sheet. They keep making mistake after mistake.

They are printing money. It is going to self-destruct before it is over. We would be better off with no central bank than this central bank."