- No country has succeeded in the world by debasing its currency.
- Increasing the money supply devalues the currency.
- Inflation is not good for the world – money supply increases causes price of goods and services to rise.
- Raising interest rates increases the cost of borrowing and slows business activity and expansion.
- The FED policy of manipulating interest rates and the currency has been an ongoing mandate since it was legislatively created December 22, 1913.
- Government bailing out troubled businesses is not capitalism but socialism for the rich.
Solve the problem by abolishing the FED and restoring a free market discipline to the banking and credit markets.
In this CNBC interview Jim Rogers unequivocally calls for the FED to be abolished and for the resignation of Ben Bernanke.
