Wednesday, February 17, 2016

Central Banks: "It is going to be a disaster in the end!"

The function of central banks when they were setup were to keep a stable currency and to be the lender of last resort. The idea that they would be supposed to make stock markets go higher, keep financial markets safe and keep stock brokers solvent so that they can keep their Lamborghinis is absolutely outrageous!

You have a bunch of bureaucrats and academics that do not have a clue of what they are doing. You know, they tried QE, QE2, QE3 none of that worked and they keep trying the same old thing. Now we have problems in the financial markets and they are already riding in. But none of this has worked, but they still try it. It is going to be a disaster in the end!

Jim Rogers is a legendary investor that co-founded the Quantum Fund and retired at age thirty-seven. He is the author of several investing books and also a renowned financial commentator worldwide famous for his contrarian views on financial markets.