Jim Rogers: We’re Wiping Out The Savings Class Globally, To Terrible Consequence @ Peak Prosperity
Chris Martenson interviews Jim Rogers, an American investor and author. Rogers is the Chairman of Rogers Holdings and Beeland Interests, Inc. He was the co-founder of the Quantum Fund with George Soros and creator of the Rogers International Commodities Index (RICI). In the interview Jim Rogers draws attention on this unique moment in financial history where most central banks engage in “money printing”, wiping out the western world’s saving class, and creating the foundations for a potentially devastating future.
“For the first time in recorded history, we have nearly every central bank printing money and trying to debase their currency. This has never happened before. How it’s going to work out, I don’t know.”
“Throughout our history – any country’s history – the people who save their money and invest for their future are the ones that you build an economy, a society, and a nation on.”
“In America, many people saved their money, put it aside, and didn’t buy four or five houses with no job and no money down. They did what most people would consider the right thing, and what historically has been the right thing. But now, unfortunately, those people are being wiped out, because they are getting 0% return, or virtually no return, on their savings and their investments. We’re wiping them out at the expense of people who went deeply into debt, people who did what most people would consider the wrong thing at the expense of people who did the right thing. This, long-term, has terrible consequences for any nation, any society, any economy.”
The Yogi Rock 