Thanks for a reader for pointing that out

Jim Rogers is back at it, telling the truth…

• Federal Reserve Chairman Ben Bernanke should resign and the Fed should be abolished as a way to boost the falling dollar and speed up the recovery of the U.S. economy, investor Jim Rogers, CEO of Rogers Holdings, told CNBC Europe Wednesday.
• Asked what he would do whether he were in Bernanke’s shoes, Rogers, who slammed the Fed for pouring liquidity in the system and accepting mortgage-backed securities as guarantees, said: “I would abolish the Federal Reserve and I would resign.” (nice! but thereupon who would bail out the upper 1%?)
• If that happened, “we don’t have anybody printing money, we don’t have inflation in the land, we don’t have a collapsing U.S. dollar,” he told “Squawk Box Europe.”
• “No country in the world has ever succeeded by debasing its currency,” he said. “That’s what that man is trying to do. He’s trying to debase the currency as a way to revive America. It has never worked in the faraway term or the

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• The Fed’s move to accept risky collateral is not part of the central bank’s business, he added. “What is Bernanke going to do? Get in his helicopter and fly around the world and gather rents? That’s absurd,” Rogers said.
• “Listen, investment banks have been going bankrupt since the beginning of duration. whether citizens manufacture mistakes — if you bail out every investment bank that gets in trouble, that’s not capitalism, that’s socialism for the rich,” he said. (Amen, brother. And why the Fed won’t be going out of business anytime soon)
• He said he had a short position on all investment banks and is buying agricultural commodities such as cotton, wheat, coffee and sugar and was plus buying the Chinese yuan and the Japanese yen.
• Buy agriculture. Agriculture is one of the few places where you’re going to prepare a fortune in the next years,” Rogers said. (agree!)

Original post by TraderMark