Jim Rogers on Yahoo Breakout: Fed Is “Ruining an Entire Class of Investors”

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Dec 07, 2011
Famous legendary investor Jim Rogers was on Yahoo Breakout to discuss QE3 and how the Fed pumping more money into the system is not good for investors. Jim believes that QE3 is already happening with the Fed pumping money into the system in the last six months.


No matter what you've heard to the contrary, "There is QE3, the Fed is pumping money into the system," says legendary investor Jim Rogers, disregarding most every Federal Reserve statement over the last six months. In the attached video Rogers explains his lack of trust (read: contempt) for the Federal Reserve and Fed Chairman Ben Bernanke.


Rogers has been a critic of the Fed's quantitative easing programs and artificially low interest rates, pointing to the latter as something akin to QE3 in drag.


"They're lying to us," he says of the Fed. "One reason the markets are holding up so well is that they are printing money as fast as they can."


As asserted on Breakout regularly, the Federal Reserve is operating in an almost complete leadership void due to an unprecedented level of gridlock among the the elected politicians charged with setting fiscal policy. Unless and until the public acts on their many vows to "throw the bums out" of D.C. the Fed will be free, indeed forced, to act alone in regards to doing something to change our economic condition.


In a Pyrrhic victory for America, Rogers believes things will eventually get so bad that Americans will finally vote for real change and economic progress. Alas, the measures he feels are needed to cure our economy are so harsh that those same officials will also get tossed out when voters realize just how harsh the road back to prosperity is.


Follow the link below to read the transcript of the discussion as well as access the video:


http://finance.yahoo.com/blogs/breakout/fed-ruining-entire-class-investors-says-jim-rogers-153315477.html