Jim Rogers on CNBC 05 May 08: China, Nam, US Dollar, Yen, Swiss Frank, Medals and Abolish the FED
Jim Rogers and George Soros founded the Quantum Fund. During the following 10 years the fund gained 4200% while the S&P advanced about 47% (963.99/800.36). It was one of the first truly international funds.
Jim Rogers on CNBC 05 May 08:
Jim Rogers: 'Abolish the Fed'
"Asked what he would do if he were in Bernanke's shoes, Rogers, who slammed the Fed for pouring liquidity in the system and accepting mortgage-backed securities as guarantees, said: "I would abolish the Federal Reserve and I would resign."
If this happened, "we don't have anybody printing money, we don't have inflation in the land, we don't have a collapsing U.S. dollar," he told "Squawk Box Europe."