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The Fed is going to go bankrupt & Rogers: Dollar is Doomed



June 14, 2011 – Comments (4)

"It's certainly a daring prediction from Jim Rogers. I very much like how he points out that the Federal Reserve is the THIRD central bank in the United States. Central banks are neither omnipotent nor eternal, they are merely financial parasites on the nation, and like any other parasite, they have a finite lifespan. One merely hopes that like the previous two, the current central bank will not outlive its host."

Rogers: Dollar is Doomed

Mon Jun 13, 9:18AM PT - Breakout 6:26 | 179 views

Jim Rogers

4 Comments – Post Your Own

#1) On June 14, 2011 at 11:49 PM, TheDumbMoney (79.22) wrote:

At least based on your quote, there are so many things wrong with this it's hard to know where to begin.  First of all, the first and second banks of the United States were killed by the executive and legislative branches -- their charters were revoked and/or allowed to expire.  They did not go "bankrupt" while they were the central bank.  Duh, central banks are not immortal, they are created and killed by acts of Congress.  The present one was created in about 1910-1915ish, in response to multiple decades-worth of financial crises.

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#2) On June 15, 2011 at 1:37 AM, awallejr (33.35) wrote:

Jim Rogers also predicted in 2009 that the US would be experiencing hyperinflation by now.

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#3) On June 15, 2011 at 11:38 AM, chk999 (99.96) wrote:

I bet the Fed outlives us all.

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#4) On June 15, 2011 at 12:32 PM, GNUBEE (< 20) wrote:

I stopped listening to Jim when he said something along the lines of "foreign countries are going to say enough, and stop loaning to the US"

Does he really view it as simple as that?

"loaning" is in reality just a consumption subsidy from top exporters. (So their people can work)

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