Jim Rogers: "Pay The Bankers And Regulators In Toxic Waste And Make Them Trade In Their Lamborghinis For Taxis" (VIDEO)
CNBC Video: Jimmy Rogers and Vince Farrell -- Flashback to Sep. 2009
A classic clip from last year in honor of today's appearance from Lehman's criminal gorilla, Dick Fuld.
Rogers goes off. Geithner gets pounded. You celebrate with an adult beverage. Jimbo gets rolling in the first 60 seconds:
- "First of all this whole problem was not caused by Lehman Brothers or Lehman Brothers' failure. Lehman didn't cause AIG to fail, or Fannie & Freddie to fail, or Iceland to fail. Lehman was an effect not a cause. The real problem over the past 10 or 15 years has been that the regulators have not let anybody fail. They have pulled in crony capitalism. Every time someone got in trouble, they would call up Mr. Greenspan or Mr. Bernanke and say "save me!" Had they let people fail, we would have solved this problem long ago. They refused to let the market do what the market is supposed to do. They've propped everybody up. There has been a huge failure of regulation. I don't know why they're not in jail."
And that's the slow part.
Because really, he hasn't even called Geithner a punk yet.
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Sep 1, 2010 at 10:13 PM
Reader Comments (19)
http://dailybail.com/home/bailout-news-video-gentle-jim-rogers-brings-the-asian-pain-i.html
http://online.wsj.com/article/SB10001424052970204488304574429070364650290.html
http://www.nytimes.com/2009/09/20/opinion/20rich.html?partner=rss&emc=rss
We are kidding ourselves if we think it’s only about bigotry, or health care, or even Obama. The growing minority that feels disenfranchised by Washington can’t be so easily ghettoized and dismissed.
Many of those Americans may hate Obama, but they don’t love the Republican establishment either. Michael Steele, who was declared persona non grata at one of the mad “tea parties” in April, was not invited to that right-wing 9/12 March on Washington last weekend. There were no public encomiums for McCain or Bush. No Senate leader spoke to the gathering,
http://www.huffingtonpost.com/2009/09/22/whoops-anti-acorn-bill-ro_n_294949.html
We can only hope.
http://www.salon.com/opinion/greenwald/2009/09/22/beck/index.html
Posted this at Whitehouse.gov
DO you all have balls to post your rants on Government Websites?
Federal Reserve’s Cloak of Secrecy Should Be Exposed
http://www.newsmax.com/metcalf/federal_reserve_bernanke/2009/09/23/263920.html
"Banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale."
— Thomas Jefferson
The Federal Reserve is not federal and it is not reserve. It is a coalition of independent banks and is not subordinate to the federal government. That is an annoying axiomatic fact. It may not be right, fair, or even reasonable, but hey, that is the way it was specifically crafted at Jekyll Island in 1913.
The tragedy of modern day central banking, a franchise in total failure, has been the hidden destruction of capital with their full blessing. The central bankers cheered the dispatch of US factories to China so as to exploit cheaper labor, labeling ‘Low Cost Solutions’ as the myth chapter. Debt replaced income. They cheered the raid of equity from US homes after urging a housing bubble creation. Foreclosures resulted. They justified the absurd legitimacy of a USEconomy structured atop a housing bubble, calling home equity wealth, labeling ‘Asset Economy’ as the myth chapter. Bank system insolvency resulted. They justified the horrendous US trade gaps and current account deficits, recycled back to the US from Asian and OPEC finance of the USTreasurys, labeling ‘Macro Economy’ as the myth chapter. Credit dependence and now monetization dependence resulted. They cheered the ultra-low rates to stimulate an economic rebound that has not occurred, to their frustration. They endorsed the US bank stock rally, aided and abetted by fraudulent bank balance sheet accounting. Lofty stock valuations (amidst a 97% profit decline) and heavy executive insider selling resulted. They cheered the stupid Clunker Car program that used $9 of USGovt funds for every $1 in fuel costs. A Detroit basket case resulted.
The latest shameful disgraces for the USFed are three. 1) The USFed monetizes USTreasurys during auctions by using the primary dealers as temporary holders before permanent open market operations, and by using foreign central bank sales of USAgency Mortgage Bonds in addition to the USDollar Swap Facility. 2) The USFed just admitted publicly that it had consistently been hiding its Gold Swap Agreements, thus rendering Greenspan a perjury perpetrator and the institution in violation of its contract. 3) New York Fed president Jan Hatzius (another GSax plant) expects the USFed balance sheet to expand by over $1 trillion more. The transgressions of the USFed ensure gold will hit $2000.
http://www.marketoracle.co.uk/Article13701.html
The idiots in the room are central bankers. They hold invisible wrecking balls and vats of acid.
Lighten up Francis. You really need to enroll in an Ashtanga class.
Sgt. Hulka
Another reason often touted to explain their huge salaries: they would go else where if they weren't! Um! Good.
It reminds me of a surgeon, operates appallingly, cuts off the wrong leg! Now would you really want that same surgeon to operate on you again?
Do me a favour? Vote for this painting of bankers: http://www.saatchi-gallery.co.uk/showdown/index/233180
Perhaps the greatest utopia would be if we could all realize that no utopia is possible; no place to run, no place to hide, just take care of business here and now. Jack Carroll
Free Speech, Free Gobias!!!
DailyBail, edit what you want…you seem to know what good propaganda is and what bad propaganda is. Why is the truth hostile and damaging when I say it? Is it because this is your site and that makes you its Minister of Enlightenment? That’s a rhetorical question.
Deflation will be a hard beast to stop...and the Fed knows it.
Bloomberg today...The central bank has purchased $694 billion of mortgage- backed securities since January and plans to spend $556 billion more by April 2010 to keep interest rates down. The debt-buying is the biggest program in the Fed’s arsenal
Efforts like that have a big impact on inflation. The government and people like Bernanke keep reminding us that the Federal Reserve is not a profit-making institution which is complete crap. There is no such thing as open-market operations.
Bloomberg...“Inflation is going to stay low for a while; the real concern about inflation is a long-run issue” Mickey Levy, chief economist at Bank of America Corp. in New York, said before the announcement. “The issue is will the Fed be able to drain and offset the huge increase in the monetary base before it reignites excess demand or inflationary expectations.”
Liquidity is keeping the economy afloat for now but the Fed will fail in its attempt to mop up liquidity and raise interest rates when the time comes. Bernanke, "the criminal" will fail because of how he and the Fed decided to pump cash into the failing economy. Think about it, they failed to prevent the big bonuses and they will fail to claw back the liquidity from the same villains that took his insane handouts.
The United States is now up shit creek without a paddle. Obama's culture of corruption is only going to make things worse.
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Obama Economic Team Weighing New Wave Of Tax Cuts, Infrastructure Spending: WSJ
http://online.wsj.com/article/SB10001424052748704421104575464012356644550.html?mod=rss_US_News
SEC charges Wharton buddies...
http://online.wsj.com/article/SB10001424052748703882304575465692923410292.html?mod=WSJ_newsreel_business
Good photos from today's event...Jobs is looking scarier than ever...he needs to drink chocolate milk...whole milk...1700 calories per half gallon...and then eat his normal meals...and yes i know he's mising part of his pancreas, so weight gain is difficult...