Jim Rogers to Bernanke: Stop The Printing Press!

Having a lot of money can open a lot of doors, especially when you crawl under the circus tent known as main stream media. For Jim Rogers, having a lot of money regularly opens the door to having a bully pulpit from which to rail against the central banks for their repeated failure to do anything beneficial for their respective economies.

In a recent interview on CNBC, Rogers enumerates the myriad ways in which the US Fed Chair, Bernanke has proven incapable of doing anything effective.

But I say, ‘Wait! Cut him some slack, Jim. After all, no one has ever done anything truly effective from that position.”

I take that back, there is one industry flourishing under his reign: the paper industry!

Which brings up an even better idea: since Benny is responsible for the destruction of so many trees, can’t we get the EPA to come out against him? And now that we’ve determined that the Fed is an environmental hazard: quick, somebody call Al Gore…and the polar bears.

Learn more about Jim Roger’s tirade below.

Jim Rogers to Bernanke: Stop The Printing Press!

Billionaire investor Jim Rogers, chairman of Rogers Holdings, says he doesn’t understand how monetizing even more debt can solve a problem caused by too much debt.  According to Rogers, Fed Chairman Ben Bernanke has failed in spurring economic growth as a result of the massive increase in the money supply brought about by the Federal Reserve’s loose monetary policy. Rogers suggests the U.S. must stop printing money and take on austerity measures like the Europeans did to let the economy recover.

“I’d rather have the Europeans running the U.S. central bank than the people running the U.S. central bank, least they know how to try to build for the future,” Rogers told CNBC Monday.

“In America, Bernanke just says we’ll print more money, we’ll spend more money, even though the United States is now the largest debtor nation in the history of the world.”

Rogers pointed out that economies in trouble should be allowed to fail, like bad companies.

“The things that have worked in the past…..will be you go bankrupt then you re-organize and you start over. You have a painful period for awhile, and then you start over. This has been done in the past 3 or 4 thousand years, and that’s the way you do it,” said Rogers.

Click here to read this article and/or see the video of Mr. Rogers on CNBC