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Title: Jim Rogers: Fed Will 'Save the Market' One Last Time
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URL Source: http://www.newsmax.com/Finance/Stre ... 09012015&s=al&dkt_nbr=pxaopxia
Published: Sep 1, 2015
Author: FJ McGuire
Post Date: 2015-09-01 16:34:16 by BTP Holdings
Keywords: None
Views: 191
Comments: 4
Jim Rogers: Fed Will 'Save the Market' One Last Time Image: Jim Rogers: Fed Will 'Save the Market' One Last Time Jim Rogers (AP photo) By FJ McGuire | Tuesday, 01 Sep 2015 08:47 AM The Federal Reserve will probably "save the market one more time" by artificially printing money, but the next big rally will be the last before an economic day of reckoning arrives, international investor Jim Rogers told Newsmax TV. The nation’s central bank will "buy more bonds, they'll do something and then we'll have another big rally but that's going to be the last rally," the chairman of Rogers Holdings told "Newsmax Prime." "Maybe they can save the market one more time, but the world is starting to give up on all this artificial money printing," he said. Story continues below video. "It's happening in Japan, Europe, Britain and America. It's never happened before in recorded history that all the major central banks are printing a lot of money," he said. "Printing money" (quantitative easing) is the term used to describe a central bank creating money and then injecting that into the economy. Six major central banks have openly printed money in the last decade: the United States, European, Switzerland, British, Japanese and Chinese central banks, explained Craig Harewood, investment director at OurInterest Inc. "That's what happened back in 2008. The Federal Reserve came running to the rescue, bailed out the banks and now we're all going to have to pay the price," Rogers said. "They don't know what they're doing down there. They're academics and bureaucrats," he said. "They think they're smarter than the rest of us. They're not and we're going to pay the price." Rogers spoke as Wall Street ended lower on Monday and wrapped up its worst month since 2012. In August, the S&P lost 6.3 percent, the Dow fell 6.6 percent and the Nasdaq declined 6.9 percent. He said another economic downturn is inevitable – history proves another is coming. "This is not going to end well. You should be prepared, you should be knowledgeable and you should be worried," he said. "We've had economic slowdowns every four to seven years. We're going to have them again. It's been six years since the last time. So start getting worried," he said. "Maybe it'll be seven, maybe it'll be eight years this time but it's going to come," he said. "In America, we're destroying the people who save and invest for the future. Interest rates at zero. A lot of people save their money, worked hard all their lives, and now they're getting nothing to show for it," he said. "First of all, you got to stop destroying the people who save and invest for their future, you got to let the market take its course and you need to cut spending," he said. "If you do that, then you could cut taxes. We would all have a lot more money in our pockets and the economy will get better," he said. Regardless, he says you can’t blame China. "I hate to see politicians start looking for scapegoats and you know this always happens when things go wrong. They blame foreigners. America is the largest economy in the world. How can you blame this on China? The American stock market has been going up for six years based on artificial money printing and the Federal Reserve." He said the blame can be found right in Washington, D.C. "Those guys have been printing staggering amounts of money and running up huge amounts of debt." Read Latest Breaking News from http://Newsmax.com www.newsmax.com/Finance/S.../id/672878/#ixzz3kWMqDZma
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#1. To: BTP Holdings (#0)
I'm sure that isn't the first time they said it. John Howard says: There are 4 schools of economics: Exodus to Europe: Who’s to Blame?One Last Time
Marxism: steal everything
Keynesianism: steal by counterfeiting whenever needed
Chicago school (Milton Friedman): steal by counterfeiting at a steady, predictable rate
Austrians: don't steal
'Wiped off the Map' – The Rumor of the Century
#2. To: BTP Holdings (#0)
Way, way, past time for the world to tell the ziobankers, "We repudiate your fiat debt." We'll print our own currency; you can take your obscene profits and go to hell.
“The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken
#3. To: Lod (#2)
All the financial news services say August's tumble is China'a fault. September starts out like this: Also in correction territory: the S&P 500 Index (SPX - 1,913.85) and Nasdaq Composite (COMP - 4,636.10). The SPX gave up 58.3 points, or 3%, while the COMP dropped 140.4 points, or 2.9%. A weak August is almost always followed by an ugly September. Who are they going to blame for the dive expected the next couple of weeks? The Dow Jones Industrial Average (DJIA - 16,058.35) was down nearly 550 points at its session low -- briefly breaching the round-number 16,000 level -- and settled on a loss of almost 470 points, or 2.8%, putting it in correction territory, and marking its third worst drop of 2015. Not one of the Dow's 30 blue chips eked out a win, with Apple suffering the steepest drop, down 4.5%.
"If ignorance is truly bliss, then why do so many Americans need Prozac?" - Dave McGowan
#4. To: PnbC (#1)
They HAVE said it before. Not sure just where, but it does ring a bell. ;) I'm sure that isn't the first time they said it.
"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke
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