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Home » Collapse » Jim Rogers Warns “Bernanke Has Set The Stage For The Fed’s Collapse” | Zero Hedge

Jim Rogers Warns “Bernanke Has Set The Stage For The Fed’s Collapse” | Zero Hedge


Jim Rogers Warns “Bernanke Has Set The Stage For The Fed’s Collapse” | Zero Hedge.

With Bernanke’s term due to expire in January, Jim Rogers warns Mineweb that the Fed-head will be remembered as “the guy who set the stage for the demise of the Central Bank in America. We’ve had three central banks in America. The first two disappeared. This one’s going to disappear too in the next decade.” With precious metals, bonds, and stock markets obsessing over Fed actions, Rogers says, in the next 10 years or so, “People will realise that these guys have led us down a terrible path,” and collapse is “not a possibility,” he adds, “it’s a probability.”

Via Mineweb,

100 years ago you could not have named the head of most central banks in the world,” Rogers told Mineweb. “Now they’re all rockstars.” Gold and equity markets have increasingly been locked in Fed-watch mode in 2013, obsessing over when or whether chairman Ben Bernanke would taper the bank’s vast bond buying scheme.

Rogers however, an ardent free-marketeer, says the market’s narrow focus on the Fed reflects the bank’s rising and now extreme interference in global markets, propelling the likes of Bernanke in the US and Mario Draghi in Europe to near household name status.

“Everybody knows them,” he says, “but that’s only a phenomenon of the last 20 years, when central banks have been pumping money into the markets and everybody’s singing hallelujah.”

With Bernanke’s term due to expire in January, Rogers says he will be remembered as “the guy who set the stage for the demise of the Central Bank in America. We’ve had three central banks in America. The first two disappeared. This one’s going to disappear too in the next decade.”

“It’s not a possibility,” he adds, “it’s a probability. People will realise that these guys have led us down a terrible path. The Fed balance sheet has increased by 500 per cent in the last 5 years and a lot of it’s garbage.”

Unlike the wider market, Rogers does not set great store by the Fed’s decision shortly before Christmas to taper its bond buying measures from $85bn per month to $75bn. The announcement put pressure on gold and drove US equities to a new all-time high, in what Rogers views as a relief rally.

“The US went up because people said, ‘Now it’s done, we don’t have to worry anymore.’ But somewhere along the line, markets are going to start suffering. They’ll taper until the markets start hurting and then they’ll panic and loosen up again. They’ve got themselves in a terrible box.”

It’ll turn into a bubble or a very inflated situation, but eventually the markets will say, we’re not going to take your garbage anymore, whether it’s treasury bonds or currency.” Inflation, Rogers says, has only been kept in check in the US by the country’s shale gas discovery, putting a “dampener” on energy prices.

Whist Rogers views mass money printing as untenable, in the short term, he expects equities to turn parabolic, rather than collapse.

“The Japanese Central Bank has said that it will print unlimited amounts of money,” he says. “That’s their word and they’re doing it. When people look back 20 years from now they’ll say that’s what killed Japan, but in the meantime, all the staggering, unlimited amounts of money have got to go somewhere and it’s going to go into Japanese shares.”

Rogers prefers gold over gold mining shares and divisible coins over bullion, but says “there’s nothing in precious metals that I’m tempted to buy at the moment.”Indian import tariffs he views as the single biggest drag on the gold market currently.

“They’ve got a huge balance of trade deficit and the three largest parts are oil, gold and cooking oil. They cannot do anything about oil or cooking oil, so they’re attacking gold, blaming their problems on gold. Gold has not caused their problems, gold is a symptom of their problems, but politicians are pretty simple-minded people and they look for the easy answer.”

For early 2014, Rogers is therefore long inflatable equities and neutral on gold, but longer term, he expects to short junk and government bonds and is ultra bullish on gold. “Gold will become one of the only refuges around,” he says.

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Sat, 01/04/2014 – 21:49 | 4300928new Caveman93
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Anyone have an application they recommend for a one-time-pad cypher they like?

Sat, 01/04/2014 – 21:52 | 4300927new Duc888
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Surely the best news of 2014.  Tomorrow isn’t soon enough.  I wonder what the Powers that Be have in mind now?  Bar codes on the forehead or microchips?

Sat, 01/04/2014 – 21:46 | 4300915new NIHILIST CIPHER
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adventure   Lost count how many times I have sung the praises of the Indian people for owning gold. Not long ago I had a business meeting with a fellow from India, he lamented stories of how families will sell their gold when tough times arise and went into detail about the workings of their system. Banks hate not holding your money ALL of the time……..makes them scheme all the more. If Amerikans would sniff the coffee and store wealth in gold, we could tell the banksters to fuck off.

Sat, 01/04/2014 – 21:38 | 4300863new adventure007
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My mother taught me the importance of gold in times of crisis in India, when she had to mortage her jewelery for an important family need. The banks wouldnt take our home as a guarantee when all we wanted was 2k USD – but took my mothers gold. Thank you Zerohedge community for sharing so many amazing educational essays / artciles and the comments from the community to make people aware of the REALITY.

Jim Cramer – 2007

http://www.youtube.com/watch?v=SWksEJQEYVU&feature=youtu.be

 

Sat, 01/04/2014 – 21:19 | 4300855new spinone
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Credit creation is not a substitute for declining employment and resources.  This is going to be a long trend.

Sat, 01/04/2014 – 21:14 | 4300843new q99x2
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“Everybody knows them,”

Everybody hates them and wants to see them do prison time for their crimes.

I like Jim Rogers for running on a tread mill.

I’m back up to over 8 miles non-stop at the beach. Thanks to my pre-Obamacare medical treatment. Got that taken care of just in the nick of time.

Lots of pilot whales out there today.

Sat, 01/04/2014 – 21:00 | 4300811new NIHILIST CIPHER
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Question:    Is the Fed operating illegally without a charter? How far would we get trying to operate a bank here in the USSA without a charter?

Sat, 01/04/2014 – 21:36 | 4300892new satoshi101
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Why do you guys always talk about “LEGAL”,

The MILITARY is exempt from all CIVILIAN LAW, they have their own courts, the NSA has been off-budget running a black-budget for years, and post 1970’s they too, got unlimited FIAT (USD).

LEGAL don’t have a fucking to do with anything post 1970’s.

Might makes Right, the USA is backed by  a GUN (nuke), that’s all you need to rule the world is FEAR.

***

Mr Rogers offers the world a sanitized feel-good, bring back the old day grandpa approach to viewing reality, perhaps this is why MSM brings Mr. Magoo to the BOOB-TUBE?

Sat, 01/04/2014 – 21:18 | 4300858new NoDebt
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The major banking families wrote the Fed’s charter in 1913.

Sat, 01/04/2014 – 21:36 | 4300893newNIHILIST CIPHER
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Nodebt   I know the history. The charter ended in December, so is it illegal for them to operate past that time?

Sat, 01/04/2014 – 21:45 | 4300913newNoDebt
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Be careful with the word ‘illegal’.  If you can substitute the word ‘unconstitutional’ you’re on firmer footing.  And in that respect, I’m not sure if it EVER was.  So why would the expiration of a charter make it more or less so?

Sat, 01/04/2014 – 20:56 | 4300797new satoshi101
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Rogers has been saying this daily since the 1970’s and it hasn’t happened ( death of FED ), someday of course Rogers will be right, but Rogers will be long dead.

Here’s what is going to happen next.

The NSA is going to admit there was a COUP back in 1950, that the USA has been operating by special Military Power ever since Eisenhower.

That the NSA will now take over the FED’s job of creating FIAT, aka USD.

The FED will remain, but it will be just a bunch of friendly faces (Yellen in a Thong ), but the real USD, and the real budgets in the USA will be decided by the NSA (MIL).

 

The USA will continue too, but only as a dog and pony show, and the courts, they can fuck the civilians to death, as MIL has their own courts.

This is the new world order, and yep you’ll get Hillary Clinton president, and she can fuck with the civilians all she wants, and the MIL don’t give a shit, as long as they can control the world.

 

Sat, 01/04/2014 – 21:23 | 4300870new satoshi101
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Wow all the RED, I love Rogers, … so it can’t be that, … I said the USA is operating under SPECIAL MILITARY Powers, .. yep going back to JFK years, I thought everybody knew this?

So why  the RED?

The NSA has been unbridled for 70 years, and now rules the world, is this news to you? Not to me I was there all along for the ride.

 

Truth hurts? You have to deal with reality, and if you want to be ‘free’ get the fuck out of the USA. Pure and Fucking Simple.

Sat, 01/04/2014 – 21:24 | 4300865newtherevolutionwas
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“…Rogers will be long dead.”  You assume he will soon die.  And you assume Zero Hedgers and their kindered spirits will do nothing.  You are full of shit.

Sat, 01/04/2014 – 21:31 | 4300880newsatoshi101
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Rogers is over 70, he is NOT immortal, unlike you.

I have already said,… the US army delta force was murdered when they stood up and objected ( 1990’s post WACO), and in recent years the Navy Seals (2012+) were murdered when they spoke up.

Now you tell me that the virtual keyboard army aka ZH is going to accomplish what DELTA&SEAL failed? To restore America?

I think not.

***

The USA is the BOILED-FROG the MIL took over in the 1950’s, its now 60+ years complete, there is no returning to a civilian government in the USA.

Denial, or imagining uptopia will never help you, nor will BTC.

The world is full of benevolent country’s that have said FUCK-YOU to the USA HEGEMONY, find one and enjoy life.

 

Sat, 01/04/2014 – 21:12 | 4300836new Soul Glow
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I like how the most common argument against collapse is that “people have been thinking this for 40 years”.  Well, some people are ahead of their time.

Also, I am not sure Rogers has been one of those until lately.

Sat, 01/04/2014 – 21:22 | 4300859newsatoshi101
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Soul Glow, I have been reading your stuff, you are one of the few humans here, not a bot, and not a troll.

***

Please define ‘collapse’,

IMHO the collapse happened in the 1970’s, when they took the USD off of gold, after that the USA went full retard MILITARY, and the rest is history. ‘Collapse’ in all of history is slow motion, civilization to ghost-town,

The USD started its decline in the 1980’s, and then for 30 years everything that could be stolen ( tangibles ) were stolen, now nothing is left to steal in the USA.

Rogers is invited to come on TV and he likes to talk, and ‘collapse’ sadly sell’s, is it probable FUCK-NO, but it all depends what ‘collapse’ means to you.

***

I’ll define collapse, If my family has no food to eat, the world has collapsed, if my neighbor has no food, then ALARM bells go off.

All human suffering is relative, even during the great depression while +20% were hungry, the other 80% were fat and happy.

COLLAPSE is situational, in no way will everyone suffer, the only people who will suffer is those in the USA that are not prepared,

If you are a student of Rogers or Faber, then you would know they both advocate leaving the civil war, before the shooting starts.

***

NOW your turn, define ‘collapse’.

 

Sat, 01/04/2014 – 21:00 | 4300803new Tinky
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Presumably you are posting from Colorado.

Sat, 01/04/2014 – 21:12 | 4300831newOwnSilverPlayMusic
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You got a problem with Colorado comrade??

Sat, 01/04/2014 – 21:07 | 4300818new Ralph Spoilsport
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He said he left the country in a post above this one, so…yeah.

Sat, 01/04/2014 – 21:13 | 4300830new Tinky
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Apparently nuance isn’t your strong suit.

Sat, 01/04/2014 – 21:40 | 4300907newRaceToTheBottom
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reefer madness dude……

Sat, 01/04/2014 – 21:17 | 4300851newRalph Spoilsport
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Boulder and Aspen don’t count as being in the country.

Sat, 01/04/2014 – 20:53 | 4300795new Atomizer
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It’s time to re-coin our own fiat currency. Let the multi-national bag holders drown in their own debt obligations.

Sat, 01/04/2014 – 20:55 | 4300792new 1C3-N1N3
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Absolutely not. It’s .gov that’s going under the bus, not the Fed. Hell, the Fed even has their own troops now and regional offices all over the country. They ain’t going anywhere.

Sat, 01/04/2014 – 21:03 | 4300810new satoshi101
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Funny you guys LOVE Rogers, but he lives in Singapore, and never sets foot in the USA.

You guy’s say that people who have left the USA should shut their mouth, but you worship every word from Rogers?

What gives?

I love Rogers, he like myself voted with our feet long ago, and Rogers say’s “LEARN TO SPEAK CHINESE”, … I taught myself Chinese some 30+ years ago,

Everything Rogers says is true, but if anybody else but Rogers say’s it, h is an idiot. Why is that?

***

This article is Bullshit, the NSA/CIA rules the world, and they control the FIAT-USD and always have created all they want, that’s why there were able to dump ‘containers’ of $100 bills in IRAQ to BUY friends,

The US-MIL (NSA) run’s America.

The civilian government gets to FUCK the people, and me and Rogers don’t like to be fucked, so we left the USA.

If any of you were smart, you would do the same.

Sat, 01/04/2014 – 21:19 | 4300850new NoDebt
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No thanks.  I’d rather fight the battle on my home turf.  All those American-friendly places may prove to be decidedly less so if the dollar collapses, and the world economy along with it.  Here’s hoping you’ve laid roots deep enough where you are now to make it though a situation like that.

All major “developed” economies are in roughly the same predicament.  When it gets time for the dollar to take an ass-whipping, they all will.  ALL of them.

Sat, 01/04/2014 – 20:49 | 4300782new Donewidit
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Paradigm shift to true value is what’s occuring.

Sat, 01/04/2014 – 21:11 | 4300841new satoshi101
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BTC real value? I have a virtual bridge to sell you.

Perhaps in Asia people have always respected only GOLD in the hand, nobody on in ASIA buy’s paper-gold (ETF/ETN), but the USA is clearly heading into a virtual 24/7, …

I would say just the opposite, that the USA has permanently left the tangibile to the intangible.

 

Sat, 01/04/2014 – 21:09 | 4300822new Ralph Spoilsport
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Agreed. Ace Hardware is losing paradigms like a bitch.

Sat, 01/04/2014 – 20:50 | 4300780new Racer
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YES, oh  YES

Oh Brilliant Yes, oh …..

 

Oh ……

Sat, 01/04/2014 – 21:16 | 4300779new Millivanilli
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It is not the responsibility of the Federal Reserve – nor would it be appropriate – to protect lenders and investors from the consequences of their financial decisions.”

Ben shalom bernank

 

Can we have a revolution now, I’m getting sleepy.

Sat, 01/04/2014 – 20:47 | 4300778newDoChenRollingBearing
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Gold, fishez!

Sat, 01/04/2014 – 21:26 | 4300879new Atomizer
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my translation above.

Agreed. They have lost control. Too bad, this is the best country on the globe.

Sat, 01/04/2014 – 20:48 | 4300775new bearish1
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GOOD!!

Sat, 01/04/2014 – 20:46 | 4300776new Jannn
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Unprecedented Total Chinese Gold Demand 2013

Over 2500 tons!!!

 

http://www.ingoldwetrust.ch/unprecedented-total-chinese-gold-demand-2013

Sat, 01/04/2014 – 21:09 | 4300834newDoChenRollingBearing
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58579 55195 66517 85251 31629 80649 7355 4534 72302 74504 75324 27474 72418 12004 67076 93764 8567 4037 89362 67106 90403 29322 53954 9516 35602 95115 30523 74772 42842 24024 12293 54435 92544 73332 74618 66121 58115 26171 54272 48043 1562 39763 31240 96242 45193 98740 3122 20348 89430 78604 52528 74011 38930 89514 80026 73627 28187 4988 34666 50471 53045 23413 11808 27691 16317 56145 68542 42731 76872 65946 94391 30076 56688 10638 27713 60975 97658 39042 60162 31115 95430 49336 74791 83874 37476 772 21734 64311 26061 75900 41938 83573 91615 63292 59295 70689 54300 1997 81024 83847 65481 20791 89007 69637 14154 7504 99722 27094 27919 22886 32823 94455 98319 7706 50617 49235 37123 33975 70114 89279 22862 20811 23686 56668 24673 61703 11964 28637 84625 40708 27700 57487 53102 75674 39222 61129 71861 6881 23072 75754 76478 78418 67563 75621 64437 89024 62017 17087 3644 27 69270 377 78212 58847 39424 40167 13979 60581 23170 59804 82667 95394 75879 52289 25224 23080 68364 42383 3358 50695 55906 8352 25174 4494 8419 97399 36828 7025 66060 94639 83784 35953 90669 76122 99664 31996 84224 60383 4558 90650 65712 57722 50956 62580 9307 19965 19284 5511 57412 18373 17955 94343 20560 92229 72124 98969 27250 16907 40684 26445 54122 35409 94105 39918 22645 90846 47992 24410 67714 51516 51005 36774 63541 28206 49925 49418 14335 54208 49286 79429 8884 13062 5 88124 88955 74957 95226 30956 44661 16662 97359 11251 37573 98831 38215 68712 20180 42863 38697 17865 86271 5064 96894 63253 35922 88575 58655 11023 33269 37868 23524 90882 91469 17667 92376 71817 70782 21040 33805 61508 67206 97968 35406 79559 44412 71510 95092 59828 22916 44394 46431 11164 43644 64285 31105 59370 19863 49107 45315 64490 62297 53769 70690 85702 67382 81086 85676 26397 50383 30916

Sat, 01/04/2014 – 21:39 | 4300901newRaceToTheBottom
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Are those your serial numbers of your gold/silver bullion?

Sat, 01/04/2014 – 21:25 | 4300868newAtomizer
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308346357344344343289275327347344364275

347340361344275351354358359275342354353

359357354351289275327354354275341340343

287275359347348358275348358275359347344

275341344358359275342354360353359357364

275354353275359347344275346351354341344

289275256253256253

 

Sat, 01/04/2014 – 21:14 | 4300844new Ralph Spoilsport
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cicada2014 sez: keep wearing that insect shirt

Sat, 01/04/2014 – 21:20 | 4300856newDoChenRollingBearing
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DCRB sez:

38d384f7d075a5dac7d647fefe55c87303545a9af18115bbd46b1d5142272597

900cf14cdd78b1a26104034cc88583671df5d1c82d9f1b3b6a0f129765b044d7

7311c20975005941505ca9bdf405b48252df476a26e1d8049cf24bfb914b2924

1633c1532af2b9afe86e9e56727ac2ad1b252f8d25424f56f12c05c2de3137f1

0841f152872a9facd399009f55e25e428b62666f2df2e7f41685bcb012a374e3

af510c444f79f372079a56a106c5e7836aaf2e8bc61e9e61d951a705cd3421a8

6d6242ee869d462dbcfb4459c6e52f7d0291135905a6e5ba9e22aa03f4e71dff

4203487c399d3e70e5c94b89ae03c1ee71bce206782b2da4ed0938aeaeba3650

8829d63cc18ad0d882a3e29b3b283cdaff0fcac6f9207cd413888a5590776432

9b894228ad9fb06537ee20c2a312fa076f15bb108ce406faba2104abd3ddc6cd

9985e0003d6fbe5a0b5987d16006105262587550adfdab6da2886dc5b68a0f1b

Sat, 01/04/2014 – 21:20 | 4300861new NoDebt
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My hex is a little rusty.  Care to translate?

Sat, 01/04/2014 – 21:27 |4300873new Atomizer
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http://home.paulschou.net/tools/xlate/

Sat, 01/04/2014 – 21:25 |4300869new DoChenRollingBearing
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It is a dialect of Bearingish.

It means: “Hey, NSA, catch that and paint it green!”

Sat, 01/04/2014 – 21:24 |4300872new NoDebt
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OK, super.  Could you now translate your translation?

Sat, 01/04/2014 – 21:32 |4300885new DoChenRollingBearing
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My understanding that quotation came from am American POW held by the Chicoms during the Korean War.  He was being interrogated.  He farted and told them to catch that and paint it green.

OCICBW  !!

***

Actually that latter set comes from here:

http://www.xorbin.com/tools/sha256-hash-calculator

Have fun!

Sat, 01/04/2014 – 21:37 | 4300890new NoDebt
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Never heard that one before.  Hope it’s true.  Worth a chuckle.

Should we expect your future posts to be in hex as well?  (Which would be highly annoying and only slightly badass)

I only ask so I can decide if I need to prepare myself with the appropriate translation tools.

Sat, 01/04/2014 – 21:49 | 4300922newDoChenRollingBearing
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I just heard that years ago, I don’t know if it’s true re the POW and green…

***

Re future posts, naah!  Just having fun.

Short and succint this time    <– Type exactly that

d902a4d70a0515d0cbaaadcbbb40fd326b5646d5346ff70c9e5b4cc09e3a7a0f

^—- is the output

Here: http://www.xorbin.com/tools/sha256-hash-calculator

Just having fun here is all.

Sat, 01/04/2014 – 21:52 |4300930newLetThemEatRand
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You get top bunk at camp for that series of posts.

Sat, 01/04/2014 – 21:07 | 4300826new El Oregonian
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“Gold will become one of the only refuges around,” he says.

Self reliant Family-survival and weaponized multi-strategic, multi-offensive/defensive compounds.

Get Prepared/Stay Prepared

Sat, 01/04/2014 – 21:12 | 4300848newOwnSilverPlayMusic
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Grow your own food, filter your own water and protect what is yours.  That’s all you can do.

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