Editorial comment by Arturo Rosales*: Jim Rogers (read his bio on Wikipedia) criticizes the bail outs of banks in the US and the UK. Begin by understanding that Jim Rogers is a capitalist and a champion of the "free market economy". This background makes his comments all the more interesting. He maintains that bankruptcy is part of the capitalist economic mechanism to clean out and strengthen the system, so that new companies can fill the breach as the old, inefficent and corrupt ones will be replaced.

However, he does not mention that the actions of the Fed and the US Treasury to save the status quo banks, indicate a huge expansion of the money supply which will eventually debase the dollar and therefore the world's reserve and trading currency. This may be a plan to concentrate more wealth in fewer hands, abandon the dollar hence reducing the huge debt of the world's main debtor nation, the US, and bring in the new North American currency (US, Mexico and Canada) the Amero at, for example a rate of US$10 = 1 Amero.  

Rogers talks about major shifts in assets and funds moving to Asia as the huge debts, especially of the US and the UK, gradually eat away at the fiber of these two developed countries. "Printing money has never worked", says Rogers, who is also a well-read economic historian.
 
Rogers offers little comfort in forecasting any sort of "recovery" and this video is food for thought when comparted to the corporate media banging their drums of joy as world markets rally. We would argue that those recent rallies are probably a technical bounce after the across the board losses of the last two weeks.
 
I was hoping that Rogers would mention the Kondratieff Winter but that would probably be too much for the UK viewers of Channel 4 to digest.

Sources: Silver Bear Cafe and Axis of Logic