The NY Times enthusiastically applauds the Dow’s recent rally.
Jim Rogers, respected CEO of Roger’s holdings, comments why the Fed’s artificially-created market rally is good for bankers, but BAD FOR AMERICANS. “It’s certainly good for me. It’s not good for the world, but it’s good for me, and I don’t approve at all.”
“Why is it the end of the world if an investment bank goes bankrupt? Where is it in the federal reserve’s mandate to bail out xyz investment bank. . . If you bail out every investment bank that gets into trouble, that’s not capitalism, it’s socialism for the rich, and why should 300 million Americans suffer so we can bail out two or three investment banks?”
Asked what he would do if he had Fed Chairman Bernanke’s job, he said: “Step one is abolish the Federal Reserve and step two is resign. . . . no country in the world has ever succeeded by debasing its currency.”
See Also:
–Fed Releases Crisis Preparedness Video
–Fed Prints Another $200 Billion Out of Thin Air
–SWAT Team Disperses Crowd of Hundreds Awaiting Housing Applications I think this will become an increasingly common sight, here in the U.S.S.A..