It is time to acknowledge reality go bankrupt. and reorganize

Jim Rogers : it's time for people to acknowledge reality and if you're bankrupt go bankrupt. and reorganize. people and countries have been going bankrupt for centuries. there's nothing new about it. it's time for everybody to accept reality. the people who lent the money take losses , I don't see why good honest Austrian taxpayers should bail out Greece or Harlem or anybody else. accept the reality.take your losses go bankrupt. reorganize. start over. many countries have done it and have boomed afterwards.

I didn't say exit. i said go bankrupt and reorganize. in America we've had cities, counties, states go bankrupt.over the past couple of hundred years it didn't end the United States. it didn't end the united states dollar. it just went bankrupt, reorganize. creditors lost money and they started over. that's all that would have to happen. - in CNBC 09 Sept 2011

 
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%.