Abolish the Federal Reserve?

Economy 101 with Jim Rogers: Stop bailing out the investment banks. Let them go bankrupt.



Copying the text in full:

Somebody at CNBC, billed as "America's business channel," made a mistake. They allowed Jim Rogers, investor and buddy to George Soros, to get on and slam the Federal Reserve.
Not only slam the Fed, but call for it to be abolished.
Somebody at CNBC was asleep at the switch, or the kill button anyway. Because you never hear such talk over the corporate media, an entity owned by the same banking and financial interests that prop op the Fed and the funny money system.
"How much money does the Federal Reserve have?" Rogers asks. "I know they can run their printing presses forever, but that is not good for the world, inflation is not good for the world, a collapsing currency is not good for the world. It means worse recession in the end."
Of course, recession — or, depending where you are situated in the funny money system, depression — will be a good deal for the bankers, as it will wipe the board clean and allow them to consolidate and at the same time destroy the once heralded middle class, a necessary task as our rulers move toward their plan to impose serfdom on the masses, or that is to say those who are not already serfs and peons, working for a dollar or two per day.
"I will ask you this," one of CNBC's talking heads asks Mr. Rogers, "what would be the first two things you would do if you were in Mr. Bernanke's seat tomorrow morning?"
"I would abolish the Federal Reserve," avers Rogers, "and I would resign," a response that brings nervous laughter all around at the CNBC studios.