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Expert investor Jim Rogers has slammed the Federal Reserve for destroying the dollar in order to rescue Wall Street, calling it "outrageous" that Ben Bernanke used $230 billion of taxpayers money to bail out Bear Stearns and other banks last week, and urged people to shift their assets completely out of dollars because the Fed had "given up" on the greenback.
"I find it outrageous that the Federal Reserve is just throwing the dollar out of the window - I happen to be an American citizen and they're signaling to the whole world that they have given up on the dollar," said Rogers during an appearance on Bloomberg, adding that everyone should "get out of the dollar because the Fed has given up."
Rogers himself shifted nearly all of his dollar assets into Chinese yuan in October 2007, citing the fact that it was "The official policy of the central bank and the U.S. to debase the currency."
Originally posted by forestlady
With people losing their homes and jobs and becoming homeless, they may well become angry enough that they start riots or even a revolution. THis may well be the tipping point for the average American.