Wednesday, April 16, 2008

Is The Federal Reserve Bank On Its Way Out?

In an interview, Jim Rogers, CEO of Rogers Holdings, an investment guru, tells an investment newsletter that the Federal Reserve is intentionally debasing the dollar. This means they are printing money with abandon, increasing the money supply and inviting inflation. Historically, when other central banks have done this, the currency becomes worthless. If the currency fails, the Federal Reserve will be a failed institution. This is an inevitable result of a fiat currency and an economy driven by debt.

Watch this interview on CNBC where he elaborates on the problem.

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