Jim Rogers - "Ben Bernanke Does not understand economics"

Cassandra Syndrome

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Right on Jimbo boy. Tell it as it is. Reminds me of the Hayek V Keynes brawl of the 1930s. Austrian school economist and renowned investor and social economic commentator states that the out of control neo Keynesian Ben Bernanke is only good for printing money.

Federal Reserve Chairman Ben S. Bernanke’s decision to pump a further $600 billion into the economy shows his grasp of economics is weak, said investor Jim Rogers, chairman of Rogers Holdings.

“Dr. Bernanke unfortunately does not understand economics, he does not understand currencies, he does not understand finance,” Rogers, 68, said in a lecture at Oxford University’s Balliol College yesterday. “All he understands is printing money.”

“His whole intellectual career has been based on the study of printing money,” he said. “Give the guy a printing press, he’s going to run it as fast as he can.”

The Fed said Nov. 3 it will buy an additional $600 billion of Treasuries through June, in a bid to reduce unemployment and avert deflation. While Bernanke’s near-zero rates and $1.7 trillion in asset purchases helped end the recession, the Fed said progress has been “disappointingly slow” in bringing down joblessness that is close to a 26-year high.

“Debasing your currency has never worked,” Rogers said.
Fed

Other top weights such as Marc Faber hopefully will speak out about this madness and try and bring about some change.

Bernanke now has a weekly meeting on TV against his arch nemisis, Ron Paul.

Deadly.
 


Cassandra Syndrome

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From Zerohedge.

Following up on Time's unbelievable success with picking the 2009 person of the year, we have managed to intercept the winner of the 2010 edition.

For your advance viewing pleasure.
 

MPB

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In all fairness Bernanke has just hastened the collapse of the current financial system, so he might turn out to be an accidental hero.
 

Cassandra Syndrome

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In all fairness Bernanke has just hastened the collapse of the current financial system, so he might turn out to be an accidental hero.
True!
 

kerdasi amaq

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I'd say Ben Bernanke fully understands what he's doing.

Anyway, he's only a factotum for the London Banking houses.
 
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I think Marc Faber has been speaking out against this type of thing daily for quite some while.

Marc Faber Blog

The main thing he always tries to remind us of is that

"You're all going to die" :eek:

He's very interesting though. :D
 


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