Jim Rogers : Let the Fannie and Freddie go bancrupt

Uploaded by: peacespeech
Video Description:
Jim Rogers in interview with Bloomberg said that government has no authority to buy Fannie and Freddie stocks and should have allowed them to go under. He said also that Paulson and Bernanke hear only Wall Street but don't care about inflation and the rest of Americans.
full interview: http://www.bloomberg.com/avp/avp.htm?clipSRC=mms://media2.bloomberg.com/cache/vIQvD7yNni2I.asf
.

Tags for this video: Ben Bernanke dollar FED gold Henry Jim Paul Paulson Rogers Ron

Find more videos in the "News" category
See more videos uploaded by peacespeech

Related Videos

CNBC: Ron Paul's question makes Ben Bernake's voice quiver	Jim Rogers: Fannie and Freddie ... let the patient pass away	Jim Rogers on Bloomberg 2008.07.14 (part 2)

Commodity Guru Jim Rogers	"Bernanke is an idiot" - Jim Rogers on Bloomberg 2008.01.18	Jim Rogers: `Welfare for the Rich'

Share This Video:

Comments for this video: Show || Hide

Comments for this video on YouTube

it's funny how he ... ( 2 months ago by andreaus8669)

it's funny how he tells them the truth and the reporters keep trying to convince him that the dollar is up and everybody is going to be ok

We're making it ... ( 2 months ago by doford)

We're making it worse by moving the debt around. All the government has done is move the debt to tax payers. This means inflation or tax will go up causing a huge loss on sales. Business will go under and and the people will still loss there jobs.
They're moving the problem from bankers to the people. You and I are paying for banks poor investments. Why?

Everything you say ... ( 2 months ago by WhackAWingnut)

Everything you say is true, but take into consideration the counter-factual -- if we didn't bail out these institutions, the repercussions would be much worse. Like you, I am not happy in the least about the bailout. But we must consider what will happen if we didn't bail out these institutions -- meltdown of our economy which would would make the 1929 depression seem like a cakewalk.

You're living in a ... ( 2 months ago by doford)

You're living in a fantasy world. At some point we are going to have to pay the debt. The longer we wait the worse it will be so we have to stop or mass reduce the cause, which is the selling of debt.
The 2nd problem is the banks are too big, if one goes under alot of problems occure. What we can do is split the banks up so if one goes bust it doesn't hurt the economy to much.
Bailing out the banks doesn't solve the problem, it reduces the economy and allows banks to continue creating debt

Yes, but you aren't ... ( 2 months ago by WhackAWingnut)

Yes, but you aren't addressing the problem immediately. What do you propose be done today versus a year down the road? Do you let the entire infrastructure collapse? Listen, I am not living in a fantasy world. I have studied economics and political science at a university that has been rated in the top 10 world-wide. I have firm history, facts and statistics that back up what I am saying. So I ask again, what do you propose we do today versus one year from now?

We shouldn't do ... ( 2 months ago by doford)

We shouldn't do anything. Let the rubbish banks collapse. Trying to bail them out will only add to the debt. We're in a no win situation. Bailing them out will only make it worse. This is a no win, win situation.
Can you explain to me how moving the debt to tax payers will make anything better?
You are simply moving the problem onto someone else, not solving it.

The short-term debt ... ( 2 months ago by WhackAWingnut)

The short-term debt incurred is far cheaper than facing the collapse of a major stock-market sector. We're talking a several TRILLION dollar disaster without the bailout. Anyone who advocates for the collapse of a major American market sector as some sort of solution, or "payback" to the Wall St. fat-cats is short-sighted and demonstrates a misunderstanding of national economies and their histories. The taxpayers are going to pay no matter what -- the question is, less now or more later?

How am i been short ... ( 2 months ago by doford)

How am i been short sited? By pushing the debt onto the tax payer we are allowing a failing system (selling of debt) to continue. The longer we move the debt onto other people the larger the debt will become, therefore the longer we wait the worse it will be.
I know you think you are solving the problem but you are only making it worse.
I would prefer a huge collapse of the market now than a gigantic collapse in 5 years time.

The USA is more ... ( 2 months ago by dollarbear1)

The USA is more communist than China. We here in China believe this.

I have posted ... ( 2 months ago by WhackAWingnut)

I have posted several links but this site is not displaying my messages. Let me just say this... go to the N Y T imes and read how many economists, including highly accredited faculty from top universities, are advocating this bailout. This forum limits response lengths, so it is difficult to offer support for my arguments. Maybe this article will enlighten you some. You aren't totally wrong, but you aren't as right as you think. Peace. Out.

By the way, one ... ( 2 months ago by WhackAWingnut)

By the way, one excellent objective article is written by Peter S. Goodman. Look for, "A Bailout Plan, but Will It Work?" This article explains much of what I am trying to say. It is located in the business section of the N Y T imes under analysis, on their web site.

I read the article ... ( 2 months ago by doford)

I read the article but the writer doesn't seem to mention anything about the problem of trying to sustain economic growth by increasing debt.
We need to go into a reccession / depression to sort out the debt. Confidence in the market will go sooner or later and all this would have been pointless. They should just increase interest rates and pay the debt off. If not the investors will continue mal-investment and things will get worse.

i thought communism ... ( 2 months ago by otherworldz)

i thought communism meant sharing resources amongst your population. all we americans seem to share is pollution and debt. if there is a profit made in america it's clung to desperately and counted in a closet in the middle of the night.

That is an ... ( 2 months ago by dollarbear1)

That is an interesting reply. The truth is that that the word communism and capitalism are just words to control people. If communism=socialism then yes the US is more communist. USA incarcerates more of its own citizens, more welfare, and more govt. control. I am not on a political rant..most people here in China are pro socialism so good/bad is really according to your perception but the truth is the truth. I think the forms of govt. are nearly identical. I have been short USD for 4 years.

here is what i ... ( 2 months ago by dollarbear1)

here is what i think of the election
watch?v=9AvSQuqQb5c

yes. socialism ... ( 2 months ago by otherworldz)

yes. socialism seems to work best when the administration is by/among a fairly homogonous population. that way all segments of society identify with each other and exploitation of "others" is reduced. i'm not sure that us prisons are in any way social, since they don't rehabilitate, but rather facilitate worse anti-social behaviour. as far as i can tell the wealthy in the usa are colluding with bureaucracy to destroy the middle class, or rather, have become the bureacracy (gwb) for control.

it will be alot ... ( 2 months ago by cubachang)

it will be alot worse when these bailouts collapse the dollar completely..

doford, here's ... ( 2 months ago by WhackAWingnut)

doford, here's where you are misunderstanding me. I have only been addressing what to do in the immediate; that is, pour cash into the market for the sake of preventing a stock market collapse. You went from that issue to long terms solutions. I never said a word about the long term other than it would be worse to wait -- which is supported by the referenced article. One more thing, Jim Rogers has shorted many of these companies; he speaks with a biased tongue. Remember that, ok? Peace.

Well that's the ... ( 2 months ago by doford)

Well that's the problem with socialism. It's always changing the little things while destroying the big picture.
Sure Jim rogers is biased, he believes free markets are better for people. He isn't just saying this because hes shorted. He's believed in this kind of thing for a long time.

Yes indeed ... ( 2 months ago by KLguy133)

Yes indeed communism and capitalism are just words to control people and CCP and USA are run by the same bunch of grubby scum bankers.

Applied Austrian ... ( 2 months ago by mesler1)

Applied Austrian economics = win.

i love rogers, he ... ( 1 month ago by JLKAJFLKDFKSDKJF)

i love rogers, he always gets mad at these cnbc cowards because they're smoke screening the biggest crime of the century. someday these ladies will realize their treason and hang themselves. rogers if you read this just call it like it is next time and say the fed and british royalty needs to be arrested, you're understating whats happening.

The dollar is dead. ... ( 1 month ago by kraskata2012)

The dollar is dead. Bernanke is hyperinflationary idiot.

Jim Rogers is right ... ( 1 month ago by jengacrock)

Jim Rogers is right on target. We can't bail out the world! Whats so damn bad about bankruptcy? Let the banks go to Consumer Credit Counseling, work out some payment plans and let them get back on their feet. If the damn banks and mortgage companies would work out something with the customers instead of foreclosing...something is better than nothing...this will work it's way out to where everyone wins. But the bailout only helps the crooks.

Tell a friend:

URL
Embed Code