Jim Rogers : "What they are doing in Europe is saving the day, not saving the system," said Rogers. "Just pumping up and bailing out another bank is not the solution, we need to let the banks fail."
"Yes you can rate test banks. You can get all of them together in a room and say you are going to fail, you are going to survive and we will work with you to make sure everyone's cheques still clear and deposits are good. Yes, help stockholders, but why bail out bondholders? Let them fail," - in CNBC
Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.
Jim Rogers "the 19th century was the century of the UK , the 20th century was the century of the US , the 21 st century is going to be the century of China "