Jim Rogers agrees with Ron Paul: “Abolish the Fed”

Jim Rogers, legendary investor extraordinaire, not only says we will have a recession anyway in spite of the Federal Reserve’s huge rate cut and buying garbage mortgages from troubled banks, but that they are doing more harm to America’s 300 million citizens than good.

Ron Paul said it in the video I posted the other day, Jim Rogers is saying it too. It may seem helpful in the short run, but dollar weakness and inflation will result in the long run.

Recessions are a healthy way to eliminate excesses, trying to prevent one will just make it more painful in the end.

See the video here.

Interestingly enough, Jim Rogers recommends in the video some of the very same ways of profiting in this malaise as Doug Casey of Casey Research.

Do yourself a favor and check out the International Speculator.